Cobalt has helped the Estonian Ministry of Economic Affairs and Communications obtain authorization to provide State aid from the European Commission.
According to Cobalt, “The European Commission approved, under the EU State aid rules, a EUR 20 million Estonian scheme to compensate four international passenger ferry operators active on the routes connecting Estonia with Finland and Sweden for damages suffered due to the COVID-19 restrictions. The compensation will cover up to 80% of the damages suffered, calculated as the difference between the lost revenues and the savings in variable costs for the period during which the ferry operators were prevented from operating, compared to the same period in 2019.”
Cobalt’s team included Partner Elo Tamm and Senior Associate Mart Blondal.
