CASE COMMENTS: STATE AIDS - WAIVER – RECOVERY – NEW AID

New aid: The Court of Justice of the European Union reiterates its case law on the notions of new aid and restriction on competition as well as on the application of the private creditor test (Rousse Industry)

*This article is an automatic translation of the original article, provided here for your convenience. Read the original article. In 1996 and 1997, the Bulgarian State granted loans to Rousse Industry AD, a company active in the shipbuilding industry, whose repayment debt had been the subject of a first rescheduling agreement in 2001 with extended repayment terms from 2006 until 2015. As the company failed to meet the deadlines, the Bulgarian state notified a new debt rescheduling project to the Commission in 2009. This second plan included a rescheduling until 2019 with a grace period until 2012 as restructuring aid. These new commitments were not respected either. In July 2011, the

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Authors

  • Sheppard, Mullin, Richter & Hampton (Brussels)
  • European Commission (Brussels)

Quotation

Jacques Derenne, Mélanie Pérez, New aid: The Court of Justice of the European Union reiterates its case law on the notions of new aid and restriction on competition as well as on the application of the private creditor test (Rousse Industry) , 20 March 2014, Concurrences N° 2-2014, Art. N° 65987, p. 155

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