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)

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%

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Stamatis Drakakakis, Argyris Papaefthymiou, Ellie Gavriilidou, 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), 23 September 2020, e-Competitions State aid & National enforcement, Art. N° 100037

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