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Aug 12, 2019

The European Courts Recognize Creditors’ Interests in State Aid Decisions

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In this article we examine a recent landmark case where the European Court of Justice recognized that if a creditor challenges a national banking resolution process on the grounds that it has suffered damage, it should also have legal standing to bring a case against the relevant State aid decision as these processes are inextricably linked.

This may now provide a plausible route for creditors to attack State aid approvals of bank resolution, something that has been very difficult to date — despite the extraordinary damage that such decisions do to creditors.

Read this chapter in Shearman & Sterling’s 2019 Antitrust Annual Report, “The European Courts Recognize Creditors’ Interests in State Aid Decisions.”

Authors and Contributors

James Webber

Partner

Antitrust

+44 20 7655 5691

+44 20 7655 5691

+32 2 500 9871

+32 2 500 9871

London

Özlem Fidanboylu

Senior Associate

Antitrust

+44 20 7655 5671

+44 20 7655 5671

London