Merger relief meaning

State aid General Court dismisses appeals regarding Spanish aid for the acquisition of ships The General Court delivered its ruling in Joined Cases T- 29/14 Telefónica Gestión Integral de Edificios y Servicios (formerly Taetal) v Commission and T- 31/14 Banco Santander v Commission, brought against the Commission’s decision of 17 July 2013. That decision concluded that a Spanish scheme for purchasing ships, structured around leasing and financing through tax relief, involved unlawful State aid (SA.21233) (the Commission’s 2013 decision). The Court rejected the actions. Under that arrangement, a shipowner could have a new vessel constructed with a rebate applied to the price set by the shipyard. To benefit from the reduced price (net of the rebate), the shipping company was required to agree to acquire the vessel not directly from the shipyard, but from an economic interest grouping (EIG) created under Spanish law and established by a bank. The Commission’s 2013 decision has already been considered in earlier cases. The Commission’s 2013 decision has been the subject of previous...

Nasir v Zavarco Plc [2025] UKSC 5 Background The respondent, Zavarco, allotted a substantial block of shares to the appellant, Nasir. A quarrel followed over whether Nasir had to pay cash or could satisfy the price by transferring shares in a different company. Zavarco issued proceedings (the ‘2016 Claim’). The judge found for Zavarco, declaring that Nasir’s shares were unpaid and that, under Zavarco’s articles of association, the company could forfeit them. Zavarco then exercised that power and forfeited the shares. Under the articles, Nasir remained bound to pay for the shares, so Zavarco commenced a second action (the ‘2018 Claim’) to recover the consideration. That claim was dismissed: the chief master held that Zavarco’s cause of action in the second suit had merged into the judge’s earlier declarations and was thereby extinguished. In the chief master’s view, the prior judgment absorbed the claim, leaving nothing further to sue upon, and so the monetary demand could not proceed. Zavarco appealed. The appeal judge allowed it, concluding that while, in...

State aid General Court dismisses appeal concerning Spanish aid for the acquisition of ships The General Court has delivered its judgment in Case T-514/14, Hispavima v Commission, on an action contesting the Commission’s decision of 17 July 2013 which found that a Spanish scheme for acquiring ships, relying on leasing and financing via tax relief, involved unlawful State aid (SA.21233) (the Commission’s 2013 decision). The case concerned that Spanish arrangement as identified in SA.21233. The General Court dismissed the appeal. Under that scheme, a shipowner could have a new vessel built with a rebate on the price charged by the shipyard. To obtain the discounted price (after deducting the rebate), however, the shipping company had to agree not to purchase the vessel directly from the yard, but to buy it from an economic interest grouping (EIG) incorporated under Spanish law and set up by a bank...

JCT CE Launched in March 2007, the (JCT CE) stemmed directly from JCT’s prior partnership with ‘Be’ (a merger of Reading Construction Forum and the Design & Build Forum) that produced its inaugural partnering form, the Be Collaborative Agreement. Sustaining that alliance, and acknowledging the continuing need for agreements embodying the partnering ethos and practice, led to the creation of the together with the companion JCT Constructing Excellence Project Team Agreement (JCT CE/P). The most recent editions of JCT CE and JCT CE/P were released in October 2024 within the JCT 2024 suite of contracts, so they are commonly referred to as 2024 and JCT Constructing Excellence Project Team Agreement 2024 respectively. For an overview of the amendments made in the 2024 versions compared with the earlier 2016 editions, see News Analysis: The 2024—what’s changed? JCT CE adopts a partnering approach and is therefore principally targeted at public sector clients and local authorities in particular, though it is also suitable for private sector use where parties...

The Court of Justice of the European Union Headquartered in Luxembourg, the Court of Justice of the European Union is made up of two courts: the Court of Justice and the General Court (the Civil Service Tribunal was integrated into the General Court in September 2016) overall...

Note—consult Where to Notify to check if notification thresholds in Seychelles and across the globe are met. Seychelles is a member of both the Southern African Development Community and of COMESA, which administers a supra-national merger control system. 1. Have there been any recent developments regarding the regime and are any updates or developments expected in the coming year? Are there any other ‘hot’ merger control issues in Seychelles? The principal statute in Seychelles is the Fair Trading Act 2022 (FTA 2022). It took effect on 1 August 2022, repealing the Consumer Protection Act 2010 (CPA 2010), the Fair Competition Act 2009 (FCA 2009) and the Fair Trading Commission Act 2009. The Fair Trading Commission (FTC) is the primary statutory authority tasked with preventing and/or controlling anti-competitive mergers. A notable reform brought in by the FTA 2022 is the establishment of the Fair Trading Tribunal, an autonomous body that will function without direction or control from any person or authority. The Tribunal will consist of a...