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 Tuesday 12 May 2020. Today’s new updates as compared to the previous update are highlighted – these are the headlines:
- Today’s EU updates:
- On 8 May 2020, the European Commission adopted a second amendment to the Temporary Framework for State aid measures to support the economy during the COVID-19 outbreak. The New Amendment sets out the conditions under which Member States may provide equity and/or hybrid capital as well as subordinated debt to non-financial undertakings that face serious economic difficulties as a result of the COVID-19 outbreak. Skip to relevant section.
- The Commission has cleared a further number of State aid requests by Member States. Skip to relevant section.