CASE COMMENTS: STATE AIDS – EUROPEAN UNION – PRIVATE VENDOR PRINCIPLE – TAX EXEMPTION

Sale of public properties : The Court of Justice of the European Union confirms that the European Commission has a large margin of discretion when assessing the value of a mine and of a piece of land so as to determine the amount of State aid resulting from its sale (Ellinikos Chrysos)

*This article is an automatic translation of the original article, provided here for your convenience. Read the original article. In 2003 and 2004, after buying the assets of TVX, Hellas AE, the bankrupt company that operated the Cassandra gold mines, the Greek authorities resold the mines, the adjoining land and some gold reserves at a price below their market value. They also exempted the buyer from the payment of duties and taxes relating to this transaction. The subject-matter of the appeal In the first instance (Trib. EU, 9 December 2015, Greece v. Commission and Ellinikos Chrysos v. Commission - Case T-233/11 and Case T-262/11), the Court of First Instance confirmed the Commission's analysis that the low sale price and the tax exemption did indeed constitute State aid. It

Access to this article is restricted to subscribers

Already Subscribed? Sign-in

Access to this article is restricted to subscribers.

Read one article for free

Sign-up to read this article for free and discover our services.

 

PDF Version

Author

  • European Commission - Legal Service (Brussels)

Quotation

Bruno Stromsky, Sale of public properties : The Court of Justice of the European Union confirms that the European Commission has a large margin of discretion when assessing the value of a mine and of a piece of land so as to determine the amount of State aid resulting from its sale (Ellinikos Chrysos), 9 March 2017, Concurrences N° 2-2017, Art. N° 83849, pp. 139-140

Visites 111

All reviews