Credit Suisse Securities (Europe) Ltd & Ors v HM Revenue and Customs [2019] EWHC 1922 (Ch) (19 July 2019)
Citation: Credit Suisse Securities (Europe) Ltd & Ors v HM Revenue and Customs [2019] EWHC 1922 (Ch) (19 July 2019)
Rule of thumb: Is state aid an area which EU Courts provide Judgments in? As a general rule, no – the EU Courts give the national Courts a very wide berth on this subject.
Judgment:
‘The point was not addressed orally, but in written submissions Mr Robertson and Mr Singla referred in particular to Transalpine Ölleitung in Österreich GmbH v Finanzlandesdirektion für Tirol (Case C-368/04) [2007] CMLR 19 at [56] to [57]. In that case the CJEU referred to the importance of national courts taking particular care to ensure that aid is not extended (the Banks principle), whilst acknowledging that they might have to rule on applications for compensation for damage caused. In the later case of Centre d'Exportation du Livre Francais (CELF) v Societe Internationale de Diffusion et d'Edition (SIDE) (C-199/06) [2008] 2 CMLR 20 the Court recognised at [53] and [55] that a national court might be required to uphold claims for compensation for damage caused by unlawful State aid. The Commission's notice on the enforcement of State aid refers to these cases at paragraphs 43 and 44 and suggests the importance of the ability to bring such a claim as a means of direct financial compensation. However, my attention was not drawn to any authority where damages have been awarded for breach of State aid rules, and I note that the leading text book authority, Bacon (European Union Law of State Aid, 3rd ed.) records no such decision (paragraph 20.31)’, Falk J at 95
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