CASE COMMENTS: STATE AID – EUROPEAN UNION – STATE RESOURCES – ECONOMIC CONTINUITY

Economic continuity: The General Court of the European Union confirms the finding of economic continuity between two entities, taking into account in particular the very wide scope of assets transferred (Fortischem)

*This article is an automatic translation of the original article, provided here for your convenience. Read the original article. The Fortischem judgment concerns an attempt by Slovakia to rescue a private chemical production company (NCHZ), which was facing bankruptcy proceedings and which the State considered strategic. It is of two main interests: on the one hand, it clearly shows how the manipulation of the bankruptcy procedure by the state can give rise to the granting of aid to the company in difficulty and, on the other hand, it gives the example of a case of economic continuity, in which the sale of certain assets of the company entails the transfer of the claim related to the previous granting of illegal and incompatible state aid. In October 2009, NCHZ was subject to

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  • European Commission - Legal Service (Brussels)

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Bruno Stromsky, Economic continuity: The General Court of the European Union confirms the finding of economic continuity between two entities, taking into account in particular the very wide scope of assets transferred (Fortischem), 24 September 2019, Concurrences N° 1-2020, Art. N° 93355, pp. 132-135

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