State Aid Law Blog

State Aid Uncovered Blog

In Lexxion’s State Aid Uncovered blog, Prof. Phedon Nicolaides publishes weekly critical analyses of recent State aid judgments and decisions. Each post presents the key points of a court judgment or EU Commission decision, places it in the context of similar case law or practice, assesses the underlying reasoning and highlights any inconsistencies or contradictions.

Guest contributions from other State aid experts will also be published on the blog at irregular intervals to complement the content of the blog posts.

- Investment ×

4. August 2014 | State Aid Uncovered by Phedon Nicolaides

The Profitability of an Investment Must be Determined Ex Ante

invest graph

Internal transfer of capital which is not used to fund new economic activities is not State aid. Injection of fresh capital to satisfy solvency and liquidity requirements still has to comply with State aid rules. A private investor always has the option of not injecting new capital and may opt instead to close down the business. A private investor always […]

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6. March 2014 | State Aid Uncovered by Phedon Nicolaides

The New Guidelines on State Aid to Airports and Airlines: Problematic Issues (part 2)

man looking airplane takeoff

Introduction Last week I reviewed the main provisions of the new Guidelines on State Aid to Airports and Airlines. This week I focus on three issues which are either not well explained or too ambiguous, leaving too much room for creative interpretation. [1] Investment funding gap The new Guidelines, like the other new rules, stress that aid must have an incentive […]

No Comments

4. February 2014 | State Aid Uncovered by Phedon Nicolaides

Guidelines on State Aid to Promote Risk Finance Investments

financial graph

Introduction On 15 January the Commission adopted the fourth set of guidelines for the programming period 2014-2020 [the first three were those on broadband, SGEI, and regional aid]. The latest guidelines replaced those on risk capital for SMEs. What is immediately noticeable from the title of the new guidelines is that they are not confined only to funding in […]

No Comments

- Investment ×

4. August 2014 | State Aid Uncovered by Phedon Nicolaides

The Profitability of an Investment Must be Determined Ex Ante

invest graph

Internal transfer of capital which is not used to fund new economic activities is not State aid. Injection of fresh capital to satisfy solvency and liquidity requirements still has to comply with State aid rules. A private investor always has the option of not injecting new capital and may opt instead to close down the business. A private investor always […]

No Comments

6. March 2014 | State Aid Uncovered by Phedon Nicolaides

The New Guidelines on State Aid to Airports and Airlines: Problematic Issues (part 2)

man looking airplane takeoff

Introduction Last week I reviewed the main provisions of the new Guidelines on State Aid to Airports and Airlines. This week I focus on three issues which are either not well explained or too ambiguous, leaving too much room for creative interpretation. [1] Investment funding gap The new Guidelines, like the other new rules, stress that aid must have an incentive […]

No Comments

4. February 2014 | State Aid Uncovered by Phedon Nicolaides

Guidelines on State Aid to Promote Risk Finance Investments

financial graph

Introduction On 15 January the Commission adopted the fourth set of guidelines for the programming period 2014-2020 [the first three were those on broadband, SGEI, and regional aid]. The latest guidelines replaced those on risk capital for SMEs. What is immediately noticeable from the title of the new guidelines is that they are not confined only to funding in […]

No Comments

- Investment ×

4. August 2014 | State Aid Uncovered by Phedon Nicolaides

The Profitability of an Investment Must be Determined Ex Ante

invest graph

Internal transfer of capital which is not used to fund new economic activities is not State aid. Injection of fresh capital to satisfy solvency and liquidity requirements still has to comply with State aid rules. A private investor always has the option of not injecting new capital and may opt instead to close down the business. A private investor always […]

No Comments

6. March 2014 | State Aid Uncovered by Phedon Nicolaides

The New Guidelines on State Aid to Airports and Airlines: Problematic Issues (part 2)

man looking airplane takeoff

Introduction Last week I reviewed the main provisions of the new Guidelines on State Aid to Airports and Airlines. This week I focus on three issues which are either not well explained or too ambiguous, leaving too much room for creative interpretation. [1] Investment funding gap The new Guidelines, like the other new rules, stress that aid must have an incentive […]

No Comments

4. February 2014 | State Aid Uncovered by Phedon Nicolaides

Guidelines on State Aid to Promote Risk Finance Investments

financial graph

Introduction On 15 January the Commission adopted the fourth set of guidelines for the programming period 2014-2020 [the first three were those on broadband, SGEI, and regional aid]. The latest guidelines replaced those on risk capital for SMEs. What is immediately noticeable from the title of the new guidelines is that they are not confined only to funding in […]

No Comments

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