CELEX: C2005/115/44
Language: en
Date: 2005-05-14 00:00:00
Title: Case T-44/05: Action brought on 4 February 2005 by SP Entertainment Development GmbH against the Commission of the European Communities

14.5.2005   
            
            
               EN
            
            
               Official Journal of the European Union
            
            
               C 115/23
            
         Action brought on 4 February 2005 by SP Entertainment Development GmbH against the Commission of the European Communities
   (Case T-44/05)
   (2005/C 115/44)
   Language of the case: German
   An action against the Commission of the European Communities was brought before the Court of First Instance of the European Communities on 4 February 2005 by SP Entertainment Development GmbH, Norderfriedrichskoog (Germany), represented by C. Demleitner, lawyer.
   The applicant claims that the Court should:
   
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               annul Commission Decision D/57536 of 20 October 2004;
            
         
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               order the Commission to pay the necessary costs.
            
         Pleas in law and main arguments
   In the contested decision the Commission called upon Germany to reclaim a loan which was granted to a predecessor company of the applicant by an associated company of the City of Bremen. The applicant claims that this decision was based on the unfounded assumption of the Commission that the loan in question had not yet been repaid. According to the applicant, repayment had already been made by means of transfer of a stake in the company to which the loan was granted to the company which granted the loan. This repayment by means of ‘payment instead of performance’ does not constitute State aid for the purposes of Article 87(1) EC that is contrary to Community law since the value of the assigned stake amounts at least to the sum of the loan. Additionally, interest was paid up to 31 December 2003. From this date the applicant did not have to pay any interest since the transfer of the stake was delayed due to reasons for which the applicant was not responsible.