CASE COMMENTS: STATE AIDS – INDIRECT BENEFICIARY – CONDITIONS OF COMPATIBILITY

Rescue and restructuring: The General Court of the European Union considers that the European Commission could make the compatibility of a restructuring aid to a bank conditional on the dilution of the shares of some of its shareholders (HSH Investment Holdings Coinvest-C, HSH Investment Holdings FSO)

*This article is an automatic translation of the original article, provided here for your convenience. Read the original article. During the financial crisis, the HSH Group, Germany's fifth largest Landesbank, had, like many other financial institutions, to be recapitalised with State support and to obtain guarantees from the State against losses that could affect its portfolio. After provisionally approving these rescue measures in May 2009, the Commission asked Germany to submit a restructuring plan for the group. In September 2009, a first plan was communicated to the Commission, modified in July 2011. In September 2011, the Commission declared the examined aid compatible with the internal market subject to conditions. These conditions included a mechanism for diluting the

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  • European Commission - Legal Service (Brussels)

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Bruno Stromsky, Rescue and restructuring: The General Court of the European Union considers that the European Commission could make the compatibility of a restructuring aid to a bank conditional on the dilution of the shares of some of its shareholders (HSH Investment Holdings Coinvest-C, HSH Investment Holdings FSO), 12 November 2015, Concurrences N° 1-2016, Art. N° 77913, pp. 166-168

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