The EU General Court finds that the asset transfer between two companies constituted a State aid and is compatible with the internal market on certain condition (FIH)
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Private investor v Private creditor*
Introduction
On 15 September 2016, the General Court rendered its judgment in case T‑386/14, FIH Holding v Commission. [1] FIH appealed against Commission decision 2014/884. [2] In that decision the Commission had found that the asset transfer from FIH Group to the Danish Financial Stability Company constituted State aid. However, it declared the aid to be compatible with the internal market, on condition that certain commitments would be complied with by FIH when it would implement its restructuring plan.
FIH had benefited from certain measures adopted by Denmark in order to stabilise its banking sector. In June 2009, FIH received a capital injection of DKK 1.9 billion from the Danish government. In July 2009, Denmark also granted FIH a guarantee
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