The state aid rules allow for such wide-ranging support measures, based on Article 107(3)(b) TFEU, "to remedy a serious disturbance in the economy of a Member State." Joint Letter from the European rail sector to the Commissioners for Transport and Cohesion & Reforms and to the Vice-President for Competition on 'concrete measures to face the COVID‐19 pandemic and its economic consequences' (27 March 2020) CER Letter to DG COMP, DG MOVE and DG REGIO on State aid, regional policy and CEF (26 March 2020)
the recommendation that, given the current state of uncertainty linked to the COVID-19 outbreak, within the framework provided by IFRS, issuers give a greater weight to long-term stable outlook as evidenced by past experience and take into The state aid transparency public search gives access to state aid individual award data provided by Member States in compliance with the European transparency requirements for state aid. Many others are expected to follow, placing the EC's Directorate General for Competition (DG COMP) once again at the forefront of the EC's economic crisis management, a decade after it took the lead in policing member states' bank bail-outs during the financial crisis. It also highlights that EC services may face limitations in terms of access to information and databases and in terms of information exchanges following DG COMP's remote working measures as of March 16, 2020. This memorandum is considered advertising under applicable state laws.John Bentivoglio, Avia Dunn and Elizabeth Berry share their takeaways from Novartis' recent agreement to pay $678 m… Stockholders Versus Stakeholders — Cutting the Gordian Knot The covid-19 pandemic has caused “significant challenges” for the European Commission during “one of the most important merger waves” in EU merger control history, a senior official at the enforcer has said. A Danish state aid package was the first to be approved on March 12, 2020. Charley Connor 08 April 2020 Credit: rawf8/iStock. Therefore, the Treaty leaves room for a number of The European Commission has strong investigative and decision-making powers. Therefore, the To be State aid, a measure needs to have these features:Despite the general prohibition of State aid, in some circumstances government interventions is necessary for a well-functioning and equitable economy. The statement only relates to transactions in pre-notification. A Danish state aid package was the first to be approved on March 12, 2020. Companies and consumers in the European Union are also important players who may trigger investigations by lodging As of 1 July 2016 the new transparency requirements for state aid enter into force and become mandatory based on Article 9 and annex III of The purpose of the transparency requirements is to promote accountability of granting authorities and to reduce asymmetries on the market for state aid. Member states across the European Union (EU) are considering government support measures to help companies affected by the crisis maintain much-needed liquidity to keep operating. At the same time, the European Commission is working to quickly adapt the existing State aid … advantage granted by public authorities through state resources on a selective basis to any organisations that could potentially distort competition and trade in the European Union (EU Many of these measures will be "state aid" under the EU rules and must be vetted by the European Commission (EC) before their implementation, to limit any harm to the EU single market. It remains to be seen if, and when, these new dedicated guidelines will enter into force.This memorandum is provided by Skadden, Arps, Slate, Meagher & Flom LLP and its affiliates for educational and informational purposes only and is not intended and should not be construed as legal advice. State aid can distort competition; the bigger the aid, the greater the effect on competition there is likely to be. In its March 13, 2020, announcement, the EC confirmed that it regards this to apply in the case of Italy, and that the situation in other member states is going in the same direction. The statement only relates to transactions in pre-notification. Some support measures may entail State aid within the meaning of Article 107(1) TFEU. On March 13, 2020, EC President Ursula von der Leyen and EC Executive Vice President and Competition Commissioner Margrethe Vestager announced that the EC stands ready to "use the full flexibility of the state aid rules" to help member state governments mitigate the consequences of the pandemic. These plans may include support schemes for specific industry sectors or types of companies ( The state aid rules allow for such wide-ranging support measures, based on Article 107(3)(b) TFEU, "to remedy a serious disturbance in the economy of a Member State." The statement refers to the difficulties its services are likely to face in collecting information from third parties, such as customers, competitors and suppliers, in the coming weeks. It remains to be seen if, and when, these new dedicated guidelines will enter into force.This memorandum is provided by Skadden, Arps, Slate, Meagher & Flom LLP and its affiliates for educational and informational purposes only and is not intended and should not be construed as legal advice.
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