In its recent judgment in Land Burgenland (Joined Cases C-214/12 P, C-215/12 P and C-223/12 P) the Court of Justice of the European Union (CJEU) has confirmed that compatible State aid granted to an undertaking in the past must not be taken into account in the context of the Market Economy Operator Principle (MEOP) to justify further subsidies in the context of the Private Investor Test, even if the prior aid was declared compatible with State aid rules. Background In this case, Land Burgenland, an Austrian Province, privatised its regional bank, Bank Burgenland, via a public tender procedure. Two bidders answered the public call for tenders: a consortium that included Austrian and Ukrainian companies and the Austrian insurance company GRAWE. Land
The EU Court of Justice confirms prior State aid cannot be taken into account by a public authority to justify further subsidies as market behaviour (Land Burgenland)
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