PwC provided legal advice to SEAT on the interpretation of (i) general subsidy rules, (ii) European and national rules on state aid in general and Next Generation funds in particular, and (iii) the PERTE Explanatory Memorandum for the PERTE Electric and Connected Vehicle (PERTE VEC), the regulatory bases and the call for PERTE VEC aid.
The Bif Four also helped to develop legal arguments for compatibility between different types of public aid for different purposes for the same project (PERTE VEC aid, regional aid and other ad hoc aid) without losing the incentive effect of the aid, and advised SEAT on the legal avenues available both to achieve a joint and several liability regime limited to the amount of aid granted to each individual company, and to make the subcontracting and switching regimes of the beneficiaries participating in the cluster more flexible.
PwC developed legal arguments to try to minimise the risks and possible contingencies arising from participation in the PERTE VEC call for proposals and to make the competitive process transparent, focusing on the necessary legal-private collaboration and the need to set up commissions or working groups within the Administration for the continuous monitoring and supervision of the subsidised projects. PwC also drafted and negotiated the collaboration agreement that will govern the internal functioning of the grouping without legal personality in which SEAT will participate with the remaining 61 companies, large and small, that have jointly submitted their application for aid.
The firm also designed the governance that will govern not only the relations of the different partners within the cluster, but also the internal governance of SEAT and what could have been the governance of the Administration.
PwC Spain team advised with a team formed by partner and head of PwC Legal David Mellado, partner and head of Regulatory José Amérigo Alonso, Regulatory Energy director Reyes Gómez Román and Regulatory senior manager Jan Sarsanedas.