CASE COMMENTS : STATE AIDS – NOTION OF STATE AID – BANKING SECTOR – PRIVATE INVESTOR TEST

Private investor test: The General Court rules that an applicant should show that the factual assessments used in the decision are implausible in order to challenge the assessment of facts in the implementation of the private investor test (Nitrogenmuvek Vegyipari)

*This article is an automatic translation of the original article, provided here for your convenience. Read the original article. Trib. UE, 27 February 2013, Nitrogenmuvek Vegyipari v Commission, Case T-387/11 In December 2008 and January 2009, the Hungarian artificial fertiliser company Nitrogenmuvek Vegyipari Zrt. received two State-guaranteed credits totalling approximately EUR 88 million from the Hungarian Development Bank 'MFB', which is 100 % State-owned. The Commission considered this aid to be unlawful and partly incompatible with the internal market and, to this extent, it had to be recovered. The beneficiary company contested the Commission's decision, putting forward six pleas for annulment. It argued essentially that the loans had been granted under market conditions.

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  • European Commission - Legal Service (Brussels)

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Bruno Stromsky, Private investor test: The General Court rules that an applicant should show that the factual assessments used in the decision are implausible in order to challenge the assessment of facts in the implementation of the private investor test (Nitrogenmuvek Vegyipari), 27 February 2013, Concurrences N° 2-2013, Art. N° 52106, p. 138

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