The EU General Court finds a Spanish ship finance scheme to be illegal State aid (Spain / Lico Leasing / Pequeños y Medianos Astilleros Sociedad de Reconversión)

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EU General Court, Spain / Lico Leasing / Pequeños y Medianos Astilleros Sociedad de Reconversión, Press release, 23 September 2020

By its renvoi judgement of 23 September 2020, the General Court upheld the 2013 European Commission decision which found that the Spanish tax lease scheme (“the STL system”) allowing shipping companies to benefit from rebates of up to 30% on

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