CASE COMMENTS: STATE AID - EUROPEAN UNION - SPAIN - TRANSPORT - AID SCHEME - TAX LEASING

State aid scheme: The General Court of the European Union confirms, after having seen a first judgment overturned by the Court of Justice, a decision of the European Commission declaring the Spanish tax leasing scheme set up for the financing and acquisition of ships illegal and incompatible with the internal market (Spain / Commission)

*This article is an automatic translation of the original article, provided here for your convenience. Read the original article. The contentious series relating to the Spanish tax leasing scheme ("RELF"), which began in 2013, has just seen a new episode in the form of a judgment of the Court of First Instance of 23 September 2020. Before examining this judgment, it should be recalled that RELF is based on a complex arrangement organised, in the context of the financing and acquisition of ships, by a bank acting as an intermediary between a buyer (a shipping company) and a seller (a shipyard). In addition to the bank, the shipping company and the shipyard, the package also involved a hire-purchase company, an economic interest grouping (EIG) and the members of the EIG (investors) who

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  • European Court of Justice (Luxembourg)

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Raphaël Vuitton, State aid scheme: The General Court of the European Union confirms, after having seen a first judgment overturned by the Court of Justice, a decision of the European Commission declaring the Spanish tax leasing scheme set up for the financing and acquisition of ships illegal and incompatible with the internal market (Spain / Commission), 23 September 2020, Concurrences N° 4-2020, Art. N° 97655, pp. 190-192

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