Private investor test : The General Court of the European Union annuls a Commission’s decision which ruled that the reduction of the sale price for a piece of land that had been accepted by a municipality was not compliant with the private investor test (Netherlands / Commission)

*This article is an automatic translation of the original article, provided here for your convenience. Read the original article. The application of the principle of the prudent private investor in a market economy is often, in practice, a delicate exercise, particularly when it comes to land sales or purchases. The judgment of the Court of First Instance of 30 June 2015 confirms this. It recalls in particular the need to take into account all the relevant elements of the transaction under examination and its context, criticises the Commission for not having done so, and annuls the decision at issue in the present case. The downtown development project and its challenge The municipality of Leidschendam-Voorburg, near The Hague, decided in 2004 to redevelop the city centre and concluded