FrancophonIA/DGT-Translation_Memory huggingface dataset:
English: This price was allegedly better than the indicative offers initially presented and constituted the only firm offer proposed by the market to SNCF. It was purportedly endorsed by several independent valuations (ABN Amro, Oddo Corporate Finance/Paul Hastings and the French Privatisations Board).
Italian: Tale prezzo è stato migliore delle offerte indicative presentate inizialmente e ha costituito l’unica offerta proposta dal mercato alla SNCF; è stato inoltre convalidato da varie perizie indipendenti (ABN Amro, Oddo Corporate Finance/Paul Hastings, Commissione delle partecipazioni e dei trasferimenti).
Portuguese: Este preço era melhor do que as propostas indicativas apresentadas inicialmente e constituiria a única proposta firme apresentada pelo mercado à SNCF, tendo sido validado por vários peritos independentes (ABN AMRO, Oddo Corporate Finance/Paul Hastings e Commission des Participations et Transferts).
English: Even if the transfer of the activities of Sernam SA to Financière Sernam did constitute a sale, compliance with Article 3(2) of the Sernam 2 Decision presupposes that this sale relates solely to the assets, and not to Sernam SA in its entirety (assets and liabilities). This results from recital 217 of the Sernam 2 Decision, cited at recital 89 of the present decision.
Italian: Anche considerando che la trasmissione delle attività di Sernam SA alla Financière Sernam costituisca una vendita, il rispetto dell’articolo 3, paragrafo 2, della decisione Sernam 2 presuppone che tale vendita riguardi unicamente i beni patrimoniali, e non la totalità di Sernam (attivo e passivo inclusi), come risulta dal considerando 217 della decisione Sernam 2, menzionata nel considerando 89 della presente decisione.
English: Although the French authorities did visit the Commission on 24 November 2004 and wrote to it officially on 21 December 2004 to inform it of the choice to sell the assets en bloc, without describing the key components, it should be stressed that at no time did France notify the Commission of any changes to the restructuring plan conditionally approved by the latter in the Sernam 2 Decision. On the other hand, section 3.2.3 of the Community guidelines on State aid for rescuing and restructuring firms in difficulty [28] confirms that a Member State may not deviate from the restructuring plan without notifying and obtaining the prior approval of the Commission.
Italian: Orbene, la sezione 3.2.3. degli orientamenti comunitari sugli aiuti di Stato per il salvataggio e la ristrutturazione di imprese in difficoltà [28] conferma che uno Stato membro non può modificare un piano di ristrutturazione senza informarne la Commissione e ottenerne l’approvazione preventiva.
Swedish: I avsnitt 3.2.3 i gemenskapens riktlinjer för statligt stöd till undsättning och omstrukturering av företag i svårigheter [28] bekräftas att en medlemsstat inte får frångå omstruktureringsplanen utan anmälan till och förhandsgodkännande av kommissionen.
English: The same distinction is to be found in the Seleco judgment [32]. In this judgment, the Court of Justice confirms that the Commission may be compelled to require that the recovery is not restricted to the original firm but is extended to the firm which continues the activity, using the transferred means of production, in cases where certain elements of the transfer point to economic continuity between the two firms.
Italian: La stessa distinzione si trova nella sentenza Seleco [32], nella quale la Corte ribadisce che la Commissione può dover esigere che il recupero non si limiti all’impresa originaria ma si estenda all’impresa che continui l’attività dell’impresa originaria utilizzando i mezzi di produzione trasferiti, laddove certi elementi del trasferimento permettano di constatare una continuità economica tra le due imprese.
English: OJ L 140, 30.4.2004, p. 1.
Italian: GU L 140 del 30.4.2004, pag. 1.
Portuguese: JO L 140 de 30.4.2004, p. 1.
Dutch: PB L 140 van 30.4.2004, blz. 1.
Swedish: EUT L 140, 30.4.2004, s. 1.
Romanian: JO L 140, 30.4.2004, p. 1.
Latvian: OV L 140, 30.4.2004, lpp. 1.
English: OJ L 140, 29.5.2006, p. 1.
Italian: GU L 140 del 29.5.2006, pag. 1.
Portuguese: JO L 140 de 29.5.2006, p. 1.
Dutch: PB L 140 van 29.5.2006, blz. 1.
Swedish: EUT L 140, 29.5.2006, s. 1.
Romanian: JO L 140, 29.5.2006, p. 1.
Latvian: OV L 140, 29.5.2006, lpp. 1.
English: The first complainant submitted comments on 13 November 2008, the Société nationale des chemins de fer (‘SNCF’) on 6 February 2009, and the investment fund Butler Capital Partners (‘BCP’) on 9 February 2009. The Commission forwarded the comments received to France on 25 March 2009, asking it to comment, which the French authorities did with respect to the first complainant’s comments on 7 May 2009.
Polish: Pierwszy skarżący przedstawił swoje uwagi w dniu 13 listopada 2008 r. Spółka Société nationale des chemins de fer („SNCF”) przedstawiła swoje uwagi w dniu 6 lutego 2009 r. Fundusz inwestycyjny Butler Capital Partners („BCP”) przedstawił swoje uwagi w dniu 9 lutego 2009 r. Dnia 25 marca 2009 r. Komisja przekazała otrzymane uwagi Francji, dając jej możliwość odniesienia się do nich, i dnia 7 maja 2009 r. otrzymała komentarz władz francuskich odnośnie do uwag pierwszego skarżącego.
Lithuanian: Pirmoji skundo pateikėja pastabas pateikė 2008 m. lapkričio 13 d. Bendrovė Société nationale des chemins de fer (SNCF) pastabas pateikė 2009 m. vasario 6 d. Investicinis fondas Butler Capital Partners (BCP) pastabas pateikė 2009 m. vasario 9 d. Gautas pastabas Komisija 2009 m. kovo 25 d. perdavė Prancūzijai ir suteikė galimybę jas pakomentuoti; Prancūzijos institucijų komentarus dėl pirmosios skundo pateikėjos pastabų Komisija gavo 2009 m. gegužės 7 d.;
English: Concerning the alleged manipulations carried out at the time of the valuation, the French authorities firstly reject the discount of EUR 22 million purportedly made on the valuation of the assets. In fact, since the operation in question was a partial contribution of assets followed by a disposal, the accounting rules applicable required valuation not at net accounting value as the first complainant claims, but based on the current value of the assets and liabilities contributed.
Lithuanian: aptardamos tariamą manipuliavimą atliekant vertinimą Prancūzijos institucijos visų pirma neigia, kad vertinant turtą jo vertė buvo sumažinta 22 mln. Iš tikrųjų taikomuose apskaitos teisės aktuose reikalaujama, kad vykdant dalinio turto įnašo operaciją, po kurios turtas perleidžiamas, vertinimas būtų atliekamas ne remiantis grynąja apskaitos verte, kaip teigia pirmoji skundo pateikėja, bet faktine įnešamo turto ir perduodamų įsipareigojimų verte.
English: The memorandum of understanding between SNCF, Sernam SA, Sernam Xpress (one of the 10 wholly-owned subsidiaries of Sernam SA, set up in 2002) and the managers of the future company Financière Sernam, was signed on 21 July 2005 (hereinafter: the ‘memorandum of understanding of 21 July 2005’). Financière Sernam was registered in the trade register on 14 October 2005. The various operations for the transfer of Sernam’s activities to Financière Sernam, described in detail in the recitals below, were carried out on 17 October 2005.
Polish: Protokół ustaleń między SNCF, Sernam SA, Sernam Xpress (jedną z 10 spółek zależnych stanowiących w 100 % własność Sernam SA, utworzoną w 2002 r.) oraz kierownictwem przyszłej spółki Financière Sernam (zwany dalej „protokołem ustaleń z dnia 21 lipca 2005 r.”) podpisano dnia 21 lipca 2005 r. Spółkę Financière Sernam wpisano do rejestru handlowego dnia 14 października 2005 r. Dnia 17 października 2005 r. zrealizowano różne operacje dotyczące przeniesienia działalności Sernam na Financière Sernam, które opisano szczegółowo w poniższych motywach.
Maltese: Il-memorandum ta’ ftehim bejn l-SNCF, Sernam SA, Sernam Xpress (waħda mill-10 kumpaniji sussidjarji 100 % ta’ Sernam SA, maħluqa fl-2002) u d-diriġenti tal-kumpanija futura Financière Sernam, ġie ffirmat fil-21 ta’ Lulju 2005 (minn issa ‘l quddiem il-“memorandum ta’ ftehim tal-21 ta’ Lulju 2005”). Il-kumpanija Financière Sernam ġiet irreġistrata fir-reġistru tal-kumpaniji fl-14 ta’ Ottubru 2005. Id-diversi tranżazzjonijiet għat-trażmissjoni tal-attivitajiet ta’ Sernam lil Financière Sernam, deskritti fid-dettall fil-premessi li ġejjin, twettqu fis-17 ta’ Ottubru 2005.
English: The Commission therefore considers it necessary to impose conditions which (i) will enable Sernam to continue moving through innovative diversification towards a market segment to be developed (and therefore without overcapacity) and (ii) will make it possible to replace Sernam’s services by services of other operators (which will have the effect of freeing up Sernam’s market shares in these segments) in market segments with overcapacity or stagnation or in decline. […] The Commission also recalls that, if Sernam is sold in its entirety (assets and liabilities) as intended by the French authorities, the conditions of the decision (takeover of Sernam’s road activities by other companies and diversification of its activities towards rail freight) should in any case apply. On the other hand, should Sernam sell its assets en bloc, the Commission recalls that the above two conditions concerning the company’s restructuring will not apply as Sernam will no longer operate in its current legal form and will cede its market shares to the independent acquiring party (which will de facto continue its activities with Sernam’s assets).’ (90) The Sernam 2 Decision therefore considers two different sale scenarios for Sernam SA: sale of the whole of Sernam SA (assets and liabilities), and sale of the assets only. Under the first hypothesis, the company acquiring the assets and liabilities is subject to the conditions set out in Article 3(1) of the Sernam 2 Decision; under the second, these conditions do not apply.
Dutch: Volgens de eerste hypothese is de onderneming die de activa en passiva verwerft, onderworpen aan de voorwaarden van artikel 3, lid 1, van de beschikking Sernam 2; volgens de tweede zijn deze voorwaarden niet van toepassing.
English: Once the transfer had been made, Sernam Xpress was in turn recapitalised by SNCF to the amount of EUR 2 million. The Sernam Xpress shares were then sold to Financière Sernam for the same amount (EUR 2 million). (105) As indicated in section 2.7.1.3, the French authorities justify this operation by the two-fold constraint of French law and the Sernam 2 Decision.
Dutch: Zoals vermeld in punt 2.7.1.3. rechtvaardigen de Franse autoriteiten deze operatie door te wijzen op de bepalingen die zowel door het Franse recht als door de beschikking Sernam 2 worden opgelegd.
English: Firstly, it should be recalled that the Sernam 2 Decision left France two alternative means of implementing this decision. Assuming that the sale of the assets proved inapplicable, the French authorities could always implement the decision by following the possibility provided for by Article 3(1) of the Sernam 2 Decision (confining of Sernam SA’s own activities to carrying mail by railway, with the road transport subcontracted). Secondly, if the third-party creditors were really opposed to a sale at a negative price, Sernam SA could have been the subject of a collective procedure, which means that the sale of assets could have taken place under this procedure. (126) Finally, if the French authorities were experiencing difficulties in implementing the Sernam 2 Decision, they should have recontacted the Commission to find a solution, in agreement with it, concerning other arrangements pursuant to the principle of sincere cooperation provided for in Article 4(3) of the Treaty on European Union (TEU).
Dutch: Tot slot hadden de Franse autoriteiten, indien zij problemen ondervonden bij de tenuitvoerlegging van de beschikking Sernam 2, zich opnieuw tot de Commissie moeten wenden om, in overleg met haar, krachtens het beginsel van de loyale samenwerking zoals bedoeld in artikel 4, lid 3, van het Verdrag betreffende de Europese Unie (VEU) een andere regeling te treffen.
English: Sernam SA was put into compulsory liquidation on 15 December 2005. The amount of EUR 41 million repayable to SNCF under the Sernam 2 Decision was entered in the liabilities of the liquidation account. [13]
Polish: Spółka Sernam SA została prawnie zlikwidowana dnia 15 grudnia 2005 r. Na mocy decyzji Sernam 2 kwotę 41 mln EUR podlegającą zwrotowi SNCF zapisano po stronie pasywów w ramach tej likwidacji [13].
English: Fourthly, BCP disputes that the benefit of the aid of EUR 41 million was transferred to Sernam Xpress. BCP considers that such a situation would be conceivable only if it were proved that the transfer of Sernam SA’s activities was not made at market price.
Polish: Po czwarte, BCP kwestionuje fakt, że spółka Sernam Xpress osiągnęła korzyść w związku z udzieleniem pomocy w wysokości 41 mln EUR. BCP uważa, że taka sytuacja byłaby możliwa, jedynie gdyby wykazano, iż przeniesienia działalności Sernam SA nie dokonano po cenie rynkowej.
English: Therefore, it is normally this undertaking that retains the competitive advantage connected with that aid and it is therefore this undertaking that must be required to repay an amount equal to that aid. […]’
Polish: W związku z tym korzyść względem konkurencji w związku z przyznaną pomocą odnosi zasadniczo właśnie to przedsiębiorstwo, i to na nim musi spoczywać obowiązek zwrotu kwoty równej kwocie pomocy […].”
Slovenian: Zato običajno to podjetje ohrani konkurenčno prednost, povezano z zadevnimi pomočmi, in mu je treba naložiti vračilo zneska v višini teh pomoči […]“
English: Although, considering the negative nature of the prices offered for Sernam SA’s assets, the possibility of recapitalisation (fact 3) arose only on receipt of the offers, at least the principle of a sale of the assets with part of the liabilities (fact 2) must in principle already have been known by France when it drew up its note of 21 December 2004. Be that as it may, the French authorities cannot claim the benefit of legitimate expectations without having voluntarily informed the Commission of these material facts on 21 December 2004 or later.
Polish: Jeżeli, biorąc pod uwagę zaniżone ceny oferowane za aktywa Sernam SA, możliwość dokapitalizowania (element 3) pojawiła się dopiero przy przyjmowaniu ofert, to zasadniczo koncepcja sprzedaży aktywów wraz z częścią pasywów (element 2) musiała być znana Francji w chwili sporządzania przez nią noty z dnia 21 grudnia 2004 r. W każdym razie władze francuskie nie mogą powoływać się na uzasadnione oczekiwanie, skoro nie poinformowały Komisji w dniu 21 grudnia 2004 r. lub później o tych podstawowych elementach.
English: In the alternative, they emphasise that the market price of Sernam Xpress would necessarily have taken into account the existence of the debt of EUR 41 million if the aid had been transferred. Under this assumption, the negative price would have been EUR 98 million (57 + 41).
Slovak: Subsidiárne zdôrazňujú, že keby sa pomoc previedla, trhová cena spoločnosti Sernam Xpress by nevyhnutne zohľadnila existenciu dlhu 41 mil. EUR. Za tohto predpokladu by záporná cena bola 98 mil. EUR (57 + 41).
Slovenian: Podredno še trdijo, da bi bilo treba – če bi bila pomoč prenesena – v tržni ceni družbe Sernam Xpress nujno upoštevati obstoj dolga v višini 41 milijonov EUR. Po tej predpostavki bi negativna cena znašala 98 milijonov EUR (57 + 41).
English: Furthermore, the Commission points out that Article 3(2) of the Sernam 2 Decision perceived the sale of assets as an equivalent to the compensatory measures imposed by Article 3(1). According to point 40 of the Community guidelines on State aid for rescuing and restructuring firms in difficulty [36], the divestment of a loss-making activity cannot be considered as a compensatory measure.
Slovak: Komisia ostatne podotýka, že v článku 3 ods. 2 rozhodnutia Sernam 2 je predaj aktív poňatý ako ekvivalent kompenzačných opatrení, ktoré ukladá článok 3 ods. 1 Podľa bodu 40 usmernení Spoločenstva o štátnej pomoci na záchranu a reštrukturalizáciu firiem v ťažkostiach [36] nie je prevod stratovej činnosti možné považovať za kompenzačné opatrenie.
English: Moreover, if the position maintained by France were to be accepted, France could evade its obligation to recover from Sernam SA and from any other company which continues its economic activity the aid of EUR 41 million, declared incompatible by the Sernam 2 Decision, and the aid of EUR 503 million used improperly. Such a result would be in flagrant contradiction with the case-law of the Court of Justice, according to which the Member State is required to recover the aid without delay, using all the legal means at its disposal, including seizure of the firm’s assets and, where necessary, its liquidation if it is unable to repay the amounts in question [37].
Slovak: Okrem toho, keby sa prijalo stanovisko, ktoré zastáva Francúzsko, Francúzsko by sa takto mohlo vyhnúť svojej povinnosti vymôcť od spoločnosti Sernam SA a od každej spoločnosti, ktorá pokračuje v jej hospodárskej činnosti, nezlučiteľnú pomoc 41 mil. EUR, ktorá bola vyhlásená za nezlučiteľnú rozhodnutím Sernam 2, ako aj zneužitú pomoc vo výške 503 mil. EUR. Takýto výsledok by bol v zjavnom rozpore s judikatúrou Súdneho dvora, podľa ktorej sa štát vyzýva, aby bezodkladne vymohol pomoc s použitím všetkých dostupných právnych prostriedkov vrátane exekúcie aktív podniku a podľa potreby likvidácie tohto podniku, ak podnik nie je schopný vrátiť uvedenú pomoc [37].
Slovenian: Dalje, če bi sprejeli stališče Francije, bi to pomenilo, da se lahko ta država izogne obveznosti izterjave pomoči v višini 41 milijonov EUR – ki je bila z odločbo Sernam 2 razglašena za nezdružljivo – od družbe Sernam SA in katere koli družbe, ki nadaljuje njeno gospodarsko dejavnost, ter izterjavi zlorabljene pomoči v višini 503 milijone EUR. To bi bilo v popolnem nasprotju s sodno prakso Sodišča, po kateri se državi članici naloži takojšnja izterjava pomoči z vsemi razpoložljivimi pravnimi sredstvi, vključno z zaplembo sredstev podjetja in po potrebi uvedbo njegove likvidacije, če zadevnega zneska ne more vrniti. [37]
English: With effect from 1 December 2009, Articles 87 and 88 of the EC Treaty have become Articles 107 and 108, respectively, of the Treaty on the Functioning of the European Union (TFEU). The two sets of provisions are, in substance, identical.
Slovenian: S 1. decembrom 2009 sta člena 87 in 88 Pogodbe ES postala člena 107 in 108 Pogodbe o delovanju Evropske unije (PDEU).
English: The memorandum of understanding between SNCF, Sernam SA, Sernam Xpress (one of the 10 wholly-owned subsidiaries of Sernam SA, set up in 2002) and the managers of the future company Financière Sernam, was signed on 21 July 2005 (hereinafter: the ‘memorandum of understanding of 21 July 2005’). Financière Sernam was registered in the trade register on 14 October 2005.
Swedish: Avtalsprotokollet mellan SNCF, Sernam SA, Sernam Xpress (ett av de tio helägda dotterbolagen till Sernam SA, bildat 2002) och ledningen för det blivande företaget Financière Sernam undertecknades den 21 juli 2005 (nedan kallat avtalsprotokollet av den 21 juli 2005).