CASE COMMENTS : STATE AIDS – COLLECTIVE BANKRUPTCY PROCEDURE – PRIVATE CREDITOR TEST – LIMITS OF JUDICIAL REVIEW – OBLIGATION TO STATE GROUNDS – MANIFEST ERROR OF ASSESSMENT

Collective bankruptcy procedure: The Court of Justice rules that the European Commission should have assessed whether the duration of the bankruptcy procedure would have influenced the decision-making process of the private creditor of an undertaking experiencing difficulties in choosing between an arrangement and a bankruptcy (Frucona Kosice)

*This article is an automatic translation of the original article, provided here for your convenience. Read the original article. CJEU, 24 January 2013, Frucona Kosice v Commission, Case C-73/11 P The judgment of the Court Frucona Kosice clarifies the duty of the Commission to state reasons when applying the market economy private creditor test to determine whether or not the partial waiver of a claim by the State (through the acceptance of a composition agreement) constitutes State aid. The solution adopted, which is unfavourable to the Commission, is all the more noteworthy in that the Court of Justice upholds the appeal and does not follow the Advocate General's Opinion. The situation examined by the Commission in the contested decision was essentially as follows: Frucona

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  • European Commission - Legal Service (Brussels)

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Bruno Stromsky, Collective bankruptcy procedure: The Court of Justice rules that the European Commission should have assessed whether the duration of the bankruptcy procedure would have influenced the decision-making process of the private creditor of an undertaking experiencing difficulties in choosing between an arrangement and a bankruptcy (Frucona Kosice), 24 January 2013, Concurrences N° 2-2013, Art. N° 52100, p. 134

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