State aid in financial services

State Aid

The EU General Court dismisses the appeal of financial services companies which wanted to annul a State aid (BPC Lux 2)
College of Europe (Bruges)
Bail-in Is the Responsibility of Member States* Introduction Investors in banks who lost their money have sought compensation both at EU and national level. So far, claims for damages at EU level have been unsuccessful. In some instances, the cases before EU and national courts have been (...)

The EU Commission approves under EU State aid rules Romania’s plans to inject €200 million of capital in a fully state-owned Bank (CEC Bank)
DG COMP (Brussels)
State aid: Commission approves market conform recapitalisation of Romanian CEC Bank* The European Commission has found Romania’s plans to inject €200 million of capital in fully state-owned CEC Bank to be free of any State aid. The Commission found that the recapitalisation will be carried out (...)

The EU Commission finds that Greek plans aimed at supporting the reduction of non-performing loans of Greek banks are in line with EU State aid rules
DG COMP (Brussels)
STATE AID: COMMISSION APPROVES MARKET CONFORM ASSET PROTECTION SCHEME FOR BANKS IN GREECE* The European Commission has found Greek plans aimed at supporting the reduction of non-performing loans of Greek banks to be free of any State aid. The Commission found that, under the asset protection (...)

The EU Commission approves a State aid scheme partly because it didn’t contain aid and partly because it was compatible with the internal market (Primary Residence Protection Scheme)
College of Europe (Bruges)
* Article published on StateAidHub: http://stateaidhub.eu, republished in e-Competitions with the courtesy of the author. The original title of this article appears below the e-Competitions title. Authors are welcome to write an alternative article on this case/text, provided they have no (...)

The EU Court of Justice provides guidance on the assessment of violations of free movement of capital in relation to State aid scheme (A-Fonds)
Van Bael & Bellis (Brussels)
On 2 May 2019, the Court of Justice of the EU (“ECJ”) delivered a judgment on a request for a preliminary ruling by the Dutch Court of Appeal of ’s-Hertogenbosch. The request was made in proceedings between A-Fonds, an investment undertaking governed by German law, and the Dutch tax (...)

The EU Commission plans to extend for two years the seven sets of State aid rules expiring in 2020 and launches an evaluation of those rules
DG COMP (Brussels)
State aid: Commission to prolong EU State aid rules and launch evaluation* The European Commission plans to prolong for two years seven sets of State aid rules, otherwise expiring in 2020. The Commission has also launched today an evaluation of those rules and of other State aid rules to (...)

The EU Commission finds a Cypriot State aid scheme for vulnerable households borrowers to be compatible with the internal market
College of Europe (Bruges)
* Article published on StateAidHub: http://stateaidhub.eu, republished in e-Competitions with the courtesy of the author. The original title of this article appears below the e-Competitions title. Authors are welcome to write an alternative article on this case/text, provided they have no (...)

The EU General Court confirms selectivity of Spanish tax scheme for the amortisation of financial goodwill (Deutsche Telekom / Banco Santander / Sigma Alimentos Exterior / Prosegur Compañia de Seguridad / Duty Free Group / Banco Santander / Santusa)
Van Bael & Bellis (Brussels)
On 15 November 2018, the General court (“GC”) issued several judgments in cases relating to a European Commission decision classifying a Spanish tax scheme for the amortisation of financial goodwill as incompatible state aid (Cases T-207/10, T-227/10, T-239/11, T-405/11, T-406/11, T-219/10 and (...)

The EU Court of Justice holds that State aid selectivity can exist for final and intermediary beneficiary (Spanish tax lease system)
College of Europe (Bruges)
*Article published on StateAidHub: http://stateaidhub.eu, republished in e-Competitions with the courtesy of the author. The original title of this article appears below the e-Competitions title. Authors are welcome to write an alternative article on this case/text, provided they have no (...)

The EU Court of Justice sets aside the General Court’s annulment of the Commission’s decision concerning state aid granted to a Danish bank (FIH)
McDermott Will & Emery (Brussels)
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McDermott Will & Emery (Paris)
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Norton Rose Fulbright (Brussels)
When considering whether a measure constitutes State aid for the purposes of Article 107(1) TFEU and applying the well-established private operator principle, one should take into account both the private creditor test and that of the private investor depending on the nature of the transaction. (...)

The EU Court of Justice annuls a judgment of the General Court, finding that previously granted State aid must be disregarded when it applies the private investor principle (FIH)
College of Europe (Bruges)
* Article published on StateAidHub: http://stateaidhub.eu, republished in e-Competitions with the courtesy of the author. The original title of this article appears below the e-Competitions title. Authors are welcome to write an alternative article on this case/text, provided they have no (...)

The EU Commission finds that German financial instruments supporting the renovation of a congress centre are State aid compatible with the internal market (Revitalisation of the Hamburg Congress Centre)
College of Europe (Bruges)
* Article published on StateAidHub: http://stateaidhub.eu, republished in e-Competitions with the courtesy of the author. The original title of this article appears below the e-Competitions title. Authors are welcome to write an alternative article on this case/text, provided they have no (...)

The EU Commission finds that the sale of part of an Austrian bank is not a state aid according to the market economy operator test (Kommunalkredit Austria)
College of Europe (Bruges)
* Article published on StateAidHub: http://stateaidhub.eu, republished in e-Competitions with the courtesy of the author. The original title of this article appears below the e-Competitions title. Authors are welcome to write an alternative article on this case/text, provided they have no (...)

The EU Commission finds that recapitalisation of a Portuguese bank is not a State aid according to the market economy investor principle (Caixa Geral de Depósitos)
College of Europe (Bruges)
* Article published on StateAidHub: http://stateaidhub.eu, republished in e-Competitions with the courtesy of the author. The original title of this article appears below the e-Competitions title. Authors are welcome to write an alternative article on this case/text, provided they have no (...)

The EU Commission approves State aid granted to Italy’s third largest bank in order to rectify a serious disturbance in the Italian economy (Liquidity support to MPS bank)
College of Europe (Bruges)
* Article published on StateAidHub: http://stateaidhub.eu, republished in e-Competitions with the courtesy of the author. The original title of this article appears below the e-Competitions title. Authors are welcome to write an alternative article on this case/text, provided they have no (...)

The EU Commission finds that a State guarantee on a bond to be issued by a Greek bank to improve its liquidity is aid compatible with the internal market (Attica Bank)
College of Europe (Bruges)
* Article published on StateAidHub: http://stateaidhub.eu, republished in e-Competitions with the courtesy of the author. The original title of this article appears below the e-Competitions title. Authors are welcome to write an alternative article on this case/text, provided they have no (...)

The EU Commission finds that a Croatian scheme to save banks in financial distress is compatible with State aid rules and the Directive on bank recovery and resolution (Resolution scheme for small credit institutions with total assets below EUR 1.5 billion)
College of Europe (Bruges)
* Article published on StateAidHub: http://stateaidhub.eu, republished in e-Competitions with the courtesy of the author. The original title of this article appears below the e-Competitions title. Authors are welcome to write an alternative article on this case/text, provided they have no (...)

The EU General Court finds that the asset transfer between two companies constituted a State aid and is compatible with the internal market on certain condition (FIH)
College of Europe (Bruges)
* Article published on StateAidHub: http://stateaidhub.eu, republished in e-Competitions with the courtesy of the author. The original title of this article appears below the e-Competitions title. Authors are welcome to write an alternative article on this case/text, provided they have no (...)

The EU General Court hands down a controversial judgment expanding market economy investor principle in a financial crisis case (FIH)
University of Bergen
A controversial expansion of the MEIP in a financial crisis case - the GC judgment in Case T-386/14 FIH of 15 September 2016 (under appeal)* Introductory remarks Following such landmark cases as Ryanair, EDF and ING, one may observe a truly impressive expansion and development of the MEIP (...)

The EU Court of Justice considers the compatibility of the bail-in provisions in the 2013 banking communication with the principle of proportionality (Kotnik)
Intesa Sanpaolo (Milan)
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Intesa Sanpaolo (Milan)
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Intesa Sanpaolo (Milan)
Bank rescue in the European Union. From bail-out to bail-in* States have traditionally faced banking crisis through the so-called bail-out tool: public resources have been used for a long time in order to rescue banks, putting the burden on public finance, thus on taxpayers. Actually, this is (...)

The EU Court of Justice confirms the validity of the EU Commission’s 2013 Banking Communication (Kotnik)
Shearman & Sterling (London)
In its judgment of 19 July 2016, the Court of Justice of the European Union confirmed that the European Commission’s 2013 Banking Communication is not contrary to EU law. The Court clarified that the burden-sharing requirements do not apply automatically and that in exceptional cases the (...)

The EU Commission finds that a Greek resolution measure to cover a bank’s funding gap does not constitute State aid (Bank of Peloponnese)
College of Europe (Bruges)
* Article published on StateAidHub: http://stateaidhub.eu, republished in e-Competitions with the courtesy of the author. The original title of this article appears below the e-Competitions title. Authors are welcome to write an alternative article on this case/text, provided they have no (...)

The EU Court of Justice and General Court explain how to determine whether state guarantees constitute State aid and how much aid is involved (Banco Privado Português)
College of Europe (Bruges)
State Guarantees* The amount of State aid in a guarantee that makes possible the granting of a loan to a well-collateralised firm in difficulty is not the difference in premium but the difference in interest rates. Beneficiaries of guarantees not notified to the Commission do not have any (...)

The EU Court of Justice reminds that a new State guarantee must be notified, and when it is not, its beneficiaries do not have remedies under EU Law (OTP Bank Nyrt / Magyar Állam)
European University Institute (Florence)
*Article published on State Aid Hub (click here), republished in e-Competitions with the courtesy of the author(s). The original title of this article appears below the e-Competitions title. Authors are welcome to write an alternative article on this case/text, provided they have no (...)

The EU Commission closes an investigation regarding a State aid scheme and proves that it will pursue ex post monitoring vigorously (Enterprise Capital Funds)
College of Europe (Bruges)
Ex post Monitoring of a Risk Capital Fund* Ex post monitoring will be pursued vigorously by the Commission. Irregularities in the implementation of State aid measures may lead to the opening of the formal investigation procedure. Introduction This article examines Commission decision (...)

The EU Commission clears an acquisition in the baking sector through a division of assets (Catalunya Banc / BBVA)
College of Europe (Bruges)
* Article published on StateAidHub: http://stateaidhub.eu, republished in e-Competitions with the courtesy of the author. The original title of this article appears below the e-Competitions title. Authors are welcome to write an alternative article on this case/text, provided they have no (...)

The EU General Court holds that tax measures are selective when they constitute an exception or deviation from the normal tax system is limited only to certain undertakings (Banco Santander)
College of Europe (Bruges)
* Article published on StateAidHub: http://stateaidhub.eu, republished in e-Competitions with the courtesy of the author. The original title of this article appears below the e-Competitions title. Authors are welcome to write an alternative article on this case/text, provided they have no (...)

The EU General Court upholds the Commission’s decision to approve a restructuring aid given to a financial institution conditional on divestment of public shareholdings (Westfälisch-Lippischer Sparkassen-und Giroverband / Commission)
College of Europe (Bruges)
* Article published on StateAidHub: http://stateaidhub.eu, republished in e-Competitions with the courtesy of the author. The original title of this article appears below the e-Competitions title. Authors are welcome to write an alternative article on this case/text, provided they have no (...)

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