The EU General Court annuls a Commission decision which found that Slovakia did not grant incompatible state aid to a chemical company (AlzChem)

Pari Passu Is not Static* When comparing the behaviour of public and private creditors, it is necessary to ensure that their situations and interests do not diverge over time. Introduction When an undertaking owes money to a public authority the latter must use all available legal means to recover the money, including the liquidation of the undertaking and the sale of its assets. However, a private creditor may not seek to liquidate the debtor and may even consent to a reduction of the debt, if, by reducing the debt and allowing the debtor to continue its operations, it can recover a larger amount than if it had closed it down and sold it assets. Similarly to the private investor test, the private creditor test determines whether a public creditor acts as a private creditor on pari

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