In Stardust Marine the Court stated that, ‘[…] in order to examine whether or not the state has adopted the conduct of a prudent investor operating in a market economy, it is necessary to place oneself in the context of the period during which the financial support measures were taken in order to assess the economic rationality of the state's conduct, and thus to refrain from any assessment based on a later situation.’
Une telle couverture constante des pertes, dénuée de perspectives d'amélioration claires et crédibles dans les résultats de la société en mesure de générer un retour satisfaisant, ne serait pas acceptable pour un investisseur en économie de marché.