# C_2017239EN.01001401.xml

| 24.7.2017 | EN | Official Journal of the European Union | C 239/14 |
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24.7.2017

EN

Official Journal of the European Union

C 239/14

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Judgment of the Court (Fifth Chamber) of 18 May 2017 (request for a preliminary ruling from the Curtea de Apel Craiova — Romania) — Fondul Proprietatea SA v Complexul Energetic Oltenia SA

(Case C-150/16) (1)

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((Reference for a preliminary ruling - State aid - Debt owed to a company of which the Romanian State is the majority shareholder by a company of which that State is the sole shareholder - Transfer in lieu of payment - Definition of ‘State aid’ - Obligation to notify the European Commission))

(2017/C 239/18)

Language of the case: Romanian

Referring court

Referring court

Curtea de Apel Craiova

Parties to the main proceedings

Parties to the main proceedings

Applicant: Fondul Proprietatea SA

Applicant:

Defendant: Complexul Energetic Oltenia SA

Defendant:

Operative part of the judgment

Operative part of the judgment

| 1. | In circumstances such as those in the main proceedings, the decision of a company of which a Member State is the main shareholder to accept, in order to extinguish a debt, a transfer in lieu of payment of an asset which is the property of another company of which that Member State is the only shareholder and to pay a sum corresponding to the difference between the estimated value of that asset and the amount of that debt is liable to constitute State aid within the meaning of Article 107 TFEU if:






  — | that decision constitutes an advantage granted directly or indirectly by means of State resources and is imputable to the State, |
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1.

In circumstances such as those in the main proceedings, the decision of a company of which a Member State is the main shareholder to accept, in order to extinguish a debt, a transfer in lieu of payment of an asset which is the property of another company of which that Member State is the only shareholder and to pay a sum corresponding to the difference between the estimated value of that asset and the amount of that debt is liable to constitute State aid within the meaning of Article 107 TFEU if:

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that decision constitutes an advantage granted directly or indirectly by means of State resources and is imputable to the State,

| — | the beneficiary undertaking has not obtained facilities comparable to a private creditor, and |
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the beneficiary undertaking has not obtained facilities comparable to a private creditor, and

| — | that decision is liable to affect trade between the Member States and distort competition. |
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that decision is liable to affect trade between the Member States and distort competition.

It is for the referring court to ascertain whether those conditions are met.

| 2. | If a national court classifies as State aid the decision of a company of which a Member State is the majority shareholder to accept a transfer in lieu of payment of an asset owned by another company of which that Member State is the sole shareholder, in order to extinguish a debt, and to refund a sum corresponding to the difference between the estimated value of that asset and the amount of the debt, the authorities of that Member State are required to notify that aid to the Commission before it is put into effect, in accordance with Article 108(3) TFEU. |
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2.

If a national court classifies as State aid the decision of a company of which a Member State is the majority shareholder to accept a transfer in lieu of payment of an asset owned by another company of which that Member State is the sole shareholder, in order to extinguish a debt, and to refund a sum corresponding to the difference between the estimated value of that asset and the amount of the debt, the authorities of that Member State are required to notify that aid to the Commission before it is put into effect, in accordance with Article 108(3) TFEU.

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(1)  OJ C 200, 6.6.2016.

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