The CJEU dismissed Rousse Industry’s appeal against General Court judgment and confirmed the established application of the private creditor principle in case of debt restructurings. Not only should public authorities and public undertakings consider whether their actions are in compliance with State aid rules when granting a loan or having it rescheduled, but also when the times comes for the loan to be repaid and, if necessary, also duly enforced. The CJEU has confirmed in the Rousse Industry case that a Member State’s inaction to recover the due loan may constitute illegal and incompatible State aid, regardless of the nature of the initial measure.
Keywords: Market Economy Investor Principle, Debt enforcement, Debt restructuring, Existing aid, New aid, Private Investor Principle, Private creditor test, Regulation, Rescue and restructuring aid.