November 29
2021
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21st April 2021
Competition & State Aid External Relations & Trade Institutional law Internal Market Justice & Litigation

Analysis: “From Asteris to Achmea Micula hearing scrutinises award in light of State aid law and broader concerns over Intra-EU Investment Arbitration” by Johannes Fahner

In yesterday’s hearing in the Micula case, parties debated whether the General Court had been right to annul a Commission Decision that classified an investment arbitration award as State aid because it compensated for the withdrawal of tax incentives prior to Romania’s accession to the EU. The Grand Chamber asked the parties to reflect on two issues: first, whether the Achmea case had any bearing on the Micula case, and second, at what point in time the State aid assessment should be made.

According to the judgment under appeal, the arbitral award merely recognised a right to compensation that had been acquired by the Micula brothers and their companies already in 2005 when Romania repealed the advantages. Since EU law did not ap

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