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Clifford Chance

Clifford Chance


EU Accession and State aid risks

10 May 2012

The recent judgment of the EU General Court in Budapesti Erőmű highlights the risks of entering into investments through long term contractual arrangements in EU accession countries and accession candidates. Even if EU State aid laws do not apply at the time of entering into the contract, the European Commission can still challenge the arrangement post-accession, and order repayment of amounts it deems to be in excess of the market rate.

This briefing explores the key issues.

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