CASE COMMENTS: STATE AIDS – CJEU – RESTRUCTURING AID – RECOVERY AND ECONOMIC CONTINUITY - PRIVATE INVESTOR TEST AND COMPENSATORY MEASURES

Private investor test: The Court of justice of the European Union rejects an appeal against a judgment of the General Court of the European Union confirming, firstly the economic continuity between a seller and an acquirer of the shares of a company being the legal successor of the beneficiary of the aid to be recovered and, secondly the non-applicability of the private investor test to an aid recovery situation where the State acts as public power (SNCF Mobilités)

*This article is an automatic translation of the original article, provided here for your convenience. Read the original article. The difficulties of Sernam, the parcel and pallet express transport company wholly owned by the Société nationale des chemins de français (SNCF), have generated many State aid issues since 2001. Legal and factual context A first Commission decision (Sernam 1, 23 May 2001, NN 122/2000) approved restructuring aid of EUR 503 million. In view of the failure to comply with the conditions of this decision, a new decision in 2004 (Sernam 2, 20 October 2004, C 32/2003) ordered the reimbursement of additional aid of EUR 41 million that had been illegally paid to cover certain losses subsequent to the adoption of the Sernam 1 decision. However, the Commission

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  • Sheppard, Mullin, Richter & Hampton (Brussels)

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Jacques Derenne, Private investor test: The Court of justice of the European Union rejects an appeal against a judgment of the General Court of the European Union confirming, firstly the economic continuity between a seller and an acquirer of the shares of a company being the legal successor of the beneficiary of the aid to be recovered and, secondly the non-applicability of the private investor test to an aid recovery situation where the State acts as public power (SNCF Mobilités), 7 March 2018, Concurrences N° 2-2018, Art. N° 86945, pp. 129-133

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