CELEX: 62011TA0487
Language: en
Date: 2014-12-12 00:00:00
Title: Case T-487/11: Judgment of the General Court of 12 December 2014  — Banco Privado Português and Massa Insolvente do Banco Privado Português v Commission (State aid — Financial sector — State guarantee accompanying a bank loan — Aid designed to remedy a serious disturbance in the economy of a Member State — Article 107(3)(b) TFEU — Decision declaring the aid incompatible with the internal market — Guidelines on State aid for rescuing and restructuring firms in difficulty — Conformity with the Commission’s notices concerning aid to the financial sector in the context of the financial crisis — Legitimate expectation — Obligation to state reasons)

9.2.2015   
            
            
               EN
            
            
               Official Journal of the European Union
            
            
               C 46/43
            
         Judgment of the General Court of 12 December 2014 — Banco Privado Português and Massa Insolvente do Banco Privado Português v Commission
   (Case T-487/11) (1)
   
   ((State aid - Financial sector - State guarantee accompanying a bank loan - Aid designed to remedy a serious disturbance in the economy of a Member State - Article 107(3)(b) TFEU - Decision declaring the aid incompatible with the internal market - Guidelines on State aid for rescuing and restructuring firms in difficulty - Conformity with the Commission’s notices concerning aid to the financial sector in the context of the financial crisis - Legitimate expectation - Obligation to state reasons))
   (2015/C 046/52)
   Language of the case: Portuguese
   
      Parties
   
   
      Applicants: Banco Privado Português, SA (Lisbon, Portugal); and Massa Insolvente do Banco Privado Português, SA (Lisbon) (represented by: C. Fernández Vicién, F. Pereira Coutinho, M. Esperança Pina, T. Mafalda Santos, R. Leandro Vasconcelos and A. Kéri, lawyers)
   
      Defendant: European Commission (represented by: L. Flynn and M. Afonso, acting as Agents)
   
      Re:
   
   Application for annulment of Commission Decision 2011/346/EU of 20 July 2010 on the State aid C 33/09 (ex NN 57/09, CP 191/09) implemented by Portugal in the form of a State guarantee to BPP (OJ 2011 L 159, p. 95).
   
      Operative part of the judgment
   
   The Court:
   
               1.
            
            
               Dismisses the application;
            
         
               2.
            
            
               Orders Banco Privado Português, SA and Massa Insolvente do Banco Privado Português, SA to bear their own costs as well as those incurred by the European Commission.
            
         
      (1)  OJ C 340, 19.11.2011.