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Parliamentary questions
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1 August 2018
Answer given by Ms Vestager on behalf of the European Commission
Question reference: E-002933/2018

A Monitoring Trustee's mandate is a bilateral contract between the party responsible for the divestiture and the Monitoring Trustee. Consistent with the Commission's policy practice, it was ArcelorMittal's responsibility to appoint a Monitoring Trustee within two weeks after the adoption of the decision, subject to the Commission’s approval. Before appointing a Monitoring Trustee, ArcelorMittal thus had to propose its candidate to the Commission. The Commission's role is to examine such a proposal and determine whether the proposed candidate is suitable as Monitoring Trustee.

The only candidate proposed by ArcelorMittal was Grant Thornton UK LLP. The Commission verified the candidate's independence from ArcelorMittal, that it possessed the necessary qualifications and that it had no conflict of interest. The Commission also interviewed the candidate and discussed the work plan and resources dedicated to this assignment. On this basis, the Commission approved Grant Thornton UK LLP as a suitable Monitoring Trustee.

While the Monitoring Trustee is appointed by ArcelorMittal, it reports to the Commission, which can give instructions to the Monitoring Trustee.

Last updated: 3 August 2018Legal notice