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It should be borne in mind that the applicant’s new request for an appraisal of the ability to pay was again rejected, in the letter of 14 February 2011, for reasons different from those which had been taken into consideration in the contested decision. The relevant passages of the letter of 14 February 2011 read as follows: ‘On 12 August 2010, WDI, WDV and [Pampus] … sought a reduction of the amount of their fines, in accordance with the conditions set out in point 35 of the 2006 Guidelines on the setting of fines, as those conditions would in their submission apply by analogy owing to their alleged insolvency. On the basis of that request and the other information supplied by the parties up to 7 February 2011, the competent services of the Commission reviewed that information and those data and ascertained that the three abovementioned undertakings would not be in a position to pay the fines, as they claim. In particular, the Commission’s services analysed the effects of the fines on the viability of the three undertakings and also took into account their relationships with the banks and their shareholders and also the shareholders’ capacity to assist the undertakings financially in order to enable them to pay the fines imposed by the [contested decision]. It follows from that examination that WDI supplied no new information or evidence to show that paying the fine of EUR 46550000 would irremediably jeopardise its viability. On the contrary, it follows from the information supplied by WDI up to 7 February 2011 that it is capable of paying the total amount of the fine. We refer, in particular, to the net cash flow forecasts for the coming years which you sent us for WDI: EUR 13.3 million for 2011 (including [EUR] 1.37 million to repay a long-term loan), EUR 17.7 million for 2012 (including EUR 0.7 million to repay a long-term loan), EUR 14.8 million for 2013, EUR 21.5 million for 2014, EUR 22.3 million for 2015 and EUR 25.4 million for 2016. Those net cash flow forecasts are the result of the analysis of the positive cash flow of current activities and limited investments. WDI has not shown that with such solid cash flow forecasts it would not be in a position to pay the fine. Those net cash flow forecasts do not take account of the repayment, albeit partial, of the loans granted by WDI to companies owned by it, although such repayments cannot be ruled out. It follows, moreover, from the information supplied that WDI’s banks may take a charge over WDI’s tangible assets to secure other land charges. We also consider that there is no need to examine the ability to pay of WDV and [Pampus] in this instance, since WDI, which is the only company in the Pampus group to have been ordered to pay the entire fine of EUR 46550000, is in a position to finance the whole of that fine or to obtain a bank guarantee for the total amount. We consider that a provisional payment or a guarantee acceptable to the Commission’s accounts department covering the amount of EUR 46550000 for the duration of the judicial proceedings will suffice to the Commission to guarantee the joint and several debt of the three undertakings concerned until the judicial proceedings have been closed. I would also emphasise that in our view none of the undertakings has thus far shown a causal or clear link, within the meaning of [recital] 1179 [to the contested decision], between the fine imposed and what is alleged to be WDI’s very delicate financial situation. The new information supplied to the Commission between the adoption of the [contested decision] and 7 February 2011 clearly shows, on the contrary, that after notification of the statement of objections WDI granted loans to third undertakings in the Pampus group without having imposed repayment plans on the beneficiaries. Those loans, amounting to approximately EUR 115 million, clearly exceed the amount of the fine imposed on WDI. I must therefore inform you that, after careful examination of the new information and data which you supplied to us between the date on which you received the contested decision and 7 February 2011, we see no reason to review or reduce the amount of the fines imposed on WDI, WDV and [Pampus] by Article 2 of the [contested decision] and are therefore unable to accede to your request.’