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Covid-19 coronavirus – State aid Temporary Framework extended to recapitalisations and subordinated loans

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Yvo de Vries

Partner

Amsterdam

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Friend Mark
Mark Friend

Partner

London

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Bavasso Antonio
Antonio Bavasso

Partner Co-Head Antitrust

London

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Besselink Emma
Emma Besselink

Senior Associate

Amsterdam

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29 May 2020

As we have previously reported, the European Commission (Commission) has adopted a Temporary State aid Framework (the Temporary Framework) to support the economy in the Covid-19 coronavirus outbreak - see our previous alert for more details.

The Commission has already shown its willingness to adapt the Temporary Framework as the situation develops. Most recently, it has extended the scope of the Temporary Framework to include recapitalisations (in the form of equity and/or hybrid capital instruments) and subordinated debt among the types of remedial aid measures that Member States may take.  Our overview describes the conditions that these measures have to comply with in order to obtain Commission approval.

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