A rational market operator can agree to arbitration if there is no reasonable prospect of a better outcome. However, a rational operator would ensure that the terms according to which an arbitration decision can be taken would be defined in advance and would not be prejudicial to the operator. Introduction Is it rational for a market operator to agree […]
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.
State Aid Uncovered ×
26. September 2017 |
State Aid Uncovered
by Phedon Nicolaides
5. September 2017 |
State Aid Uncovered
by Phedon Nicolaides
A private investor chooses the less costly option between selling a company at a loss and liquidating it. In addition to avoiding losses, a private investor also cares for its image, quantifies its value and factors it in the sale or liquidation option. Introduction On 6 July 2017, the General Court ruled in two closely related cases: T-74/14, France […]
24. January 2017 |
by Phedon Nicolaides
Derogations that result in different tax treatment are selective measures. Introduction On 21 December 2016, the Commission achieved an important legal victory when the Court of Justice found in its favour in the judgment in joint cases C‑20/15 P and C‑21/15 P, Commission v World Duty Free Group [formerly Autogrill España] and Commission v Banco Santander, respectively.[1] The Commission appealed […]
17. January 2017 |
State Aid Uncovered
by Phedon Nicolaides
The advantage conferred by State aid is not necessarily equivalent to the economic benefit that is eventually enjoyed by aid recipients. Incompatible State aid has to be repaid regardless of whether it is passed on to the customers of the aid recipients. Undertakings derive an advantage when state intervention reduces the costs they would bear under “normal market conditions” whereby […]
29. November 2016 |
State Aid Uncovered
by Phedon Nicolaides
State aid measures need not be open to all undertakings. Introduction On 11 October 2016, the General Court rendered its judgment in case T-167/14, TSøndagsavisen v Commission.[1] Søndagsavisen requested annulment of Commission decision SA.36366 on a measure that had been notified by Denmark. The purpose of the measure was to support production and innovation in the newspaper and magazine sector […]
2. September 2015 |
State Aid Uncovered
by Phedon Nicolaides
Public pronouncements can confer an advantage if they are sufficiently precise and clearly commit a public authority to support an undertaking. Introduction[1] Politicians often claim that they would never allow important national companies to go bust. Occasionally, such claims appear to sway market sentiment in favour of those companies. Private investors are heartened by the avowed support of the […]
25. August 2015 |
State Aid Uncovered
by Phedon Nicolaides
The market price of land or buildings can be determined via auction, expert valuation or other appropriate methods. Introduction On 16 July 2015, the Court of Justice delivered its judgment in case C‑39/14, BVVG Bodenverwertungs- und -verwaltungs GmbH [BVVG] v Landkreis Jerichower Land in Germany.[1] The judgment was in response to a request for a preliminary ruling concerning a dispute […]
State Aid Uncovered ×
26. September 2017 |
State Aid Uncovered
by Phedon Nicolaides
A rational market operator can agree to arbitration if there is no reasonable prospect of a better outcome. However, a rational operator would ensure that the terms according to which an arbitration decision can be taken would be defined in advance and would not be prejudicial to the operator. Introduction Is it rational for a market operator to agree […]
5. September 2017 |
State Aid Uncovered
by Phedon Nicolaides
A private investor chooses the less costly option between selling a company at a loss and liquidating it. In addition to avoiding losses, a private investor also cares for its image, quantifies its value and factors it in the sale or liquidation option. Introduction On 6 July 2017, the General Court ruled in two closely related cases: T-74/14, France […]
24. January 2017 |
by Phedon Nicolaides
Derogations that result in different tax treatment are selective measures. Introduction On 21 December 2016, the Commission achieved an important legal victory when the Court of Justice found in its favour in the judgment in joint cases C‑20/15 P and C‑21/15 P, Commission v World Duty Free Group [formerly Autogrill España] and Commission v Banco Santander, respectively.[1] The Commission appealed […]
17. January 2017 |
State Aid Uncovered
by Phedon Nicolaides
The advantage conferred by State aid is not necessarily equivalent to the economic benefit that is eventually enjoyed by aid recipients. Incompatible State aid has to be repaid regardless of whether it is passed on to the customers of the aid recipients. Undertakings derive an advantage when state intervention reduces the costs they would bear under “normal market conditions” whereby […]
29. November 2016 |
State Aid Uncovered
by Phedon Nicolaides
State aid measures need not be open to all undertakings. Introduction On 11 October 2016, the General Court rendered its judgment in case T-167/14, TSøndagsavisen v Commission.[1] Søndagsavisen requested annulment of Commission decision SA.36366 on a measure that had been notified by Denmark. The purpose of the measure was to support production and innovation in the newspaper and magazine sector […]
2. September 2015 |
State Aid Uncovered
by Phedon Nicolaides
Public pronouncements can confer an advantage if they are sufficiently precise and clearly commit a public authority to support an undertaking. Introduction[1] Politicians often claim that they would never allow important national companies to go bust. Occasionally, such claims appear to sway market sentiment in favour of those companies. Private investors are heartened by the avowed support of the […]
25. August 2015 |
State Aid Uncovered
by Phedon Nicolaides
The market price of land or buildings can be determined via auction, expert valuation or other appropriate methods. Introduction On 16 July 2015, the Court of Justice delivered its judgment in case C‑39/14, BVVG Bodenverwertungs- und -verwaltungs GmbH [BVVG] v Landkreis Jerichower Land in Germany.[1] The judgment was in response to a request for a preliminary ruling concerning a dispute […]
State Aid Uncovered ×
26. September 2017 |
State Aid Uncovered
by Phedon Nicolaides
A rational market operator can agree to arbitration if there is no reasonable prospect of a better outcome. However, a rational operator would ensure that the terms according to which an arbitration decision can be taken would be defined in advance and would not be prejudicial to the operator. Introduction Is it rational for a market operator to agree […]
5. September 2017 |
State Aid Uncovered
by Phedon Nicolaides
A private investor chooses the less costly option between selling a company at a loss and liquidating it. In addition to avoiding losses, a private investor also cares for its image, quantifies its value and factors it in the sale or liquidation option. Introduction On 6 July 2017, the General Court ruled in two closely related cases: T-74/14, France […]
24. January 2017 |
by Phedon Nicolaides
Derogations that result in different tax treatment are selective measures. Introduction On 21 December 2016, the Commission achieved an important legal victory when the Court of Justice found in its favour in the judgment in joint cases C‑20/15 P and C‑21/15 P, Commission v World Duty Free Group [formerly Autogrill España] and Commission v Banco Santander, respectively.[1] The Commission appealed […]
17. January 2017 |
State Aid Uncovered
by Phedon Nicolaides
The advantage conferred by State aid is not necessarily equivalent to the economic benefit that is eventually enjoyed by aid recipients. Incompatible State aid has to be repaid regardless of whether it is passed on to the customers of the aid recipients. Undertakings derive an advantage when state intervention reduces the costs they would bear under “normal market conditions” whereby […]
29. November 2016 |
State Aid Uncovered
by Phedon Nicolaides
State aid measures need not be open to all undertakings. Introduction On 11 October 2016, the General Court rendered its judgment in case T-167/14, TSøndagsavisen v Commission.[1] Søndagsavisen requested annulment of Commission decision SA.36366 on a measure that had been notified by Denmark. The purpose of the measure was to support production and innovation in the newspaper and magazine sector […]
2. September 2015 |
State Aid Uncovered
by Phedon Nicolaides
Public pronouncements can confer an advantage if they are sufficiently precise and clearly commit a public authority to support an undertaking. Introduction[1] Politicians often claim that they would never allow important national companies to go bust. Occasionally, such claims appear to sway market sentiment in favour of those companies. Private investors are heartened by the avowed support of the […]
25. August 2015 |
State Aid Uncovered
by Phedon Nicolaides
The market price of land or buildings can be determined via auction, expert valuation or other appropriate methods. Introduction On 16 July 2015, the Court of Justice delivered its judgment in case C‑39/14, BVVG Bodenverwertungs- und -verwaltungs GmbH [BVVG] v Landkreis Jerichower Land in Germany.[1] The judgment was in response to a request for a preliminary ruling concerning a dispute […]