On 13 July 2021, the EU Council of Ministers approved the national recovery and resilience plans (RRPs) of 12 Member States. These Member States are now able to tap into the EU recovery and resilience funding. This will allow them to start spending the money on projects and reforms for national economic recovery and resilience, as well as the green transition and digital transformation.
On 5 May 2021, the European Commission (“Commission”) published a proposed Regulation, along with an impact assessment report, aiming to address potential distortions caused by foreign subsidies in the Single Market (“Proposed Regulation”). This Proposed Regulation will create substantial new obligations for companies if adopted in its current form.
On 28 January 2021, the Commission amended the Temporary Framework for COVID-19 (“Framework”) again. This 5th Amendment prolongs its application until 31 December 2021. Other changes include increasing aid amounts that the Commission will approve under the Framework and allowing for limited amounts of repayable Framework aid to be converted…
On 28 January 2021, the Commission amended the Temporary Framework for COVID-19 (“Framework”) again. This 5th Amendment prolongs its application until 31 December 2021. Other changes include increasing aid amounts that the Commission will approve under the Framework and allowing for limited amounts of repayable Framework aid to be converted to grants.
On 13 October 2020, the Commission decided to extend the coverage of the Temporary Framework and prolong it for six months until 30 June 2021, except for the section on recapitalisation support, which was extended for three months until 30 September 2021 (4th Amendment). In March 2020, the European Commission…
Countries around the globe are facing unprecedented and rapid change due to the COVID-19 pandemic. The Government Intervention Schemes Guide provides a summary of key government intervention measures across jurisdictions around the globe in relation to:
Foreign Investment Restrictions
Debt
Equity
Taxation
Insolvency
EU State Aid Approvals, where relevant
Countries around the globe are facing unprecedented and rapid change due to the COVID-19 pandemic. The Government Intervention Schemes Guide provides a summary of key government intervention measures across jurisdictions around the globe in relation to: Foreign Investment Restrictions Debt Equity Taxation EU State Aid Approvals (where relevant) READ REPORT We will…
In brief Countries around the globe are facing unprecedented and rapid change due to the COVID-19 pandemic. The Government Intervention Schemes Guide provides a summary of key government intervention measures across jurisdictions around the globe in relation to: Foreign Investment Restrictions Debt Equity Taxation EU State Aid Approvals, where relevant…
Countries around the globe are facing unprecedented and rapid change due to the COVID-19 pandemic. The Government Intervention Schemes Guide provides a summary of key government intervention measures across jurisdictions around the globe in relation to:
Foreign Investment Restrictions
Debt
Equity
Taxation
EU State Aid Approvals, where relevant
On 2 July 2020, the EU Commission for the first time modified the existing substantive State aid exemptions and guidelines to facilitate the grant of State aid in response to the COVID-19 pandemic (see here and here), while at the same time prolonging their validity. It also amended the Temporary Framework for COVID-19 State aid for the third time on 29 June 2020 (see here and here). More information on the Temporary Framework and its earlier amendments is available here [1st Amendment and 2nd Amendment].