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2014-6 Reports of Cases before the Court of Justice and the Court of First Instance 1 (2014)

handle is hein.intyb/rcbjcofi0359 and id is 1 raw text is: ZCVRLA Reports of Cases Joined Cases C-533/12 P and C-536/12 P Soci6t6 nationale maritime Corse-M6diterranbe (SNCM) SA and French Republic V Corsica Ferries France SAS (Appeals - Restructuring aid - European Commission's margin of assessment - Scope of review by the General Court of the European Union - Market economy private investor test - Requirement for a sectoral and geographical analysis - Sufficiently well-established practice - Long-term economic rationale - Making of additional redundancy payments) Summary - Judgment of the Court (Fifth Chamber), 4 September 2014 1. State aid - Meaning - Legal nature Complex evaluation of economic matters - - Interpretation on the basis of objective factors Judicial review - Scope (Art. 107(1) TFEU) 2. State aid - Meaning - Assessment according to the criterion of the private investor - Capital contribution - State acting as shareholder of an undertaking - State acting as a public authority - Distinction in the light of the application of the private investor test - Factors for assessing that criterion (Art. 107(1) TFEU) 3. State aid - Meaning - Private investor test - Capital contribution - Capital contributions of private and public investors made at the same time - Criteria for assessment (Art. 107(1) TFEU) 1. See the text of the decision. (see para. 15) 2. It follows from the principle of equal treatment of public undertakings and private undertakings that capital placed directly or indirectly at the disposal of an undertaking by the State in circumstances which correspond to normal market conditions cannot be regarded as State aid. ECLI:EU:C:2014:2142 1

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