ALERT: STATE AID – NOTIFICATION - NEW AID - ILLEGAL AID - STATE GUARANTEE - REQUEST FOR PRELIMINARY RULING

Request for preliminary ruling: Advocate General Kokott invites the Court of Justice to consider that the guarantee granted by the Belgian State to 800.000 members of three cooperatives belonging to a financial group allowing for the recapitalisation of a major bank is a new aid which, not having been notified in due time, must be deemed illegal (Paul Vervloet)

*This article is an automatic translation of the original article in French, provided here for your convenience. Read the original article. On 2 June 2016, Advocate General Juliane Kokott delivered her Opinion in Case C-76/15 (Paul Vervloet and Others). in Case C-76/15 (Paul Vervloet and Others): reference for a preliminary ruling from the Cour constitutionnelle de Belgique (Belgium), made by order of that court of 17 May 2003, received at the Court Registry on 17 May 2003, for a preliminary ruling in the proceedings between the Commission of the European Communities on the following questions In the context of the recapitalisation of the Franco-Belgian bank Dexia, which was going through serious turbulence following the global economic and financial crisis which broke out in 2008,

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  • L’actu-concurrence (Paris)

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Alain Ronzano, Request for preliminary ruling: Advocate General Kokott invites the Court of Justice to consider that the guarantee granted by the Belgian State to 800.000 members of three cooperatives belonging to a financial group allowing for the recapitalisation of a major bank is a new aid which, not having been notified in due time, must be deemed illegal (Paul Vervloet), 2 June 2016, Concurrences Nº 3-2016, Art. N° 81111, www.concurrences.com

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