STATE AIDS: UNLAWFUL AND INCOMPATIBLE AID – RECOVERY OBLIGATION – IDENTIFICATION OF THE EFFECTIVE BENEFICIARY OF AID

Sui generis decision : The European Commission adopts a sui generis decision and finds that there will not be economic continuity between the beneficiary of a State aid and the buyers of certain of its assets (Larco General Mining & Metallurgical Company)

*This article is an automatic translation of the original article, provided here for your convenience. Read the original article. On 6 March 2013, the Commission initiated a formal investigation procedure with regard to several measures taken by Greece in favour of Larco, in particular a capital increase carried out in 2009 and several guarantees granted between 2008 and 2010. By decision of 27 March 2014, not yet published, the Commission found these measures to constitute illegal and incompatible state aid and ordered their recovery. In the meantime, on 16 December 2013, Greece had notified to the Commission its intention to sell, through two separate tenders, certain assets operated or owned by Larco, the beneficiary of the aid. In a second decision, also adopted on 27 March

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

  • General Court of the European Union (Luxembourg)

Quotation

Jérôme Gstalter, Sui generis decision : The European Commission adopts a sui generis decision and finds that there will not be economic continuity between the beneficiary of a State aid and the buyers of certain of its assets (Larco General Mining & Metallurgical Company) , 27 March 2014, Concurrences N° 3-2014, Art. N° 68368, pp. 158-159

Visites 251

All reviews