The Covington US and EU Competition/Antitrust teams will be updating you regularly, through the Covington Competition blog, on the competition/antitrust law implications – both procedural and substantive – of the COVID-19 crisis in the US and the EU. This is our update for Thursday 9 April. Today’s new updates as compared to the previous update are highlighted – these are the headlines:
- Today’s EU updates:
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- State aid development: On 9 April, the European Commission has sent to Member States a draft proposal to further extent the scope of the Temporary Framework by enabling Member States to provide recapitalisations to companies in need. Since such public interventions may have a significant impact on competition in the Single Market, they should remain measures of last-resort. They will also be subject to clear conditions as regards the State’s entry, remuneration and exit from the companies concerned, strict governance provisions and appropriate measures to limit potential distortions of competition. The Commission aims to have the amended Temporary Framework in place by next week. Skip to relevant section.
- The Commission has cleared a further number of State aid requests by Member States.Skip to relevant section.
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Continue Reading COVID 19 – US and EU Competition Law Implications (9 April 2020)