natgillin/translations-raw huggingface dataset:
Sachsen Zweirad GmbH var ifølge Tyskland økonomisk dominerende ved fusionen. Sachsen Zweirad GmbH havde ikke været i vanskeligheder, og det kan derfor ikke automatisk antages, at det nye Biria AG var i vanskeligheder.
Germany claims that Sachsen Zweirad GmbH dominated the merger economically and was not in difficulty, from which it cannot automatically be assumed that the new Biria GmbH had found itself in difficulty.
I modsætning hertil mener Kommissionen, at Sachsen Zweirad GmbH var i vanskeligheder.
Contrary to what Germany claims, the Commission is most certainly of the view that Sachsen Zweirad GmbH was a company in difficulty.
Det nye Biria GmbH har derfor også »arvet« Sachsen Zweirad GmbH’s vanskeligheder.
Consequently, the new Biria GmbH also ‘inherited’ the difficulties of Sachsen Zweirad GmbH.
Ifølge årsberetningen for 2003 blev omstruktureringen og reorganiseringen af Biria-gruppen fortsat i 2003. Denne proces var allerede indledt i 2002 og omfattede en omlægning af gruppens finansielle forhold.
Moreover, according to its annual report for 2003, the Biria Group continued its restructuring and reorganisation, which had started in 2002 and included a reordering of its financing.
På basis af Sachsens garanti for lånet på 24875 mio. EUR udarbejdede Biria-gruppen en ny plan for finansieringen af sine aktiviteter på mellemlang sigt. Den nye finansieringsplan omfattede også en væsentlig tilpasning af rentesatserne og dermed nedbringelse af den høje rentebyrde.
On the basis of the guarantee provided by the Land of Saxony for the EUR 24.875m loan, the Biria Group drew up a new plan for financing its activities in the medium term that included a significant adjustment of interest rates and thus a reduction in the high interest burden.
Samtidig blev bankpoolen reorganiseret: tre banker erklærede sig parate til at give afkald på fordringer på 8567000 EUR — hvilket tilsyneladende repræsenterer over 50 % af deres fordringer — til gengæld for en omgående indfrielse af de resterende fordringer.
At the same time, the pool of banks was reorganised: three banks agreed to waive claims amounting to EUR 8.567m, which seems to have represented significantly more than 50 % of their claims, in return for an immediate redemption of remaining claims.
Derfor består det lån, der er dækket af garantien på 80 % i foranstaltning 3, af et driftslån på 8 mio. EUR, en kassekredit på 7,45 mio. EUR og en sæsonkredit på 8425 mio. EUR.
Consequently, the loan covered by the 80 % guarantee under Measure 3 consists of EUR 8m to pay off working capital loans, EUR 7.450m in the form of an advance on current account and EU-9.425m for seasonal financing needs.
På det tidspunkt, hvor garantien blev stillet, havde Biria GmbH (i dag Biria AG) alvorlige likviditetsproblemer og var derfor en kriseramt virksomhed.
Biria GmbH (now Biria AG) thus faced serious liquidity problems at the time the guarantee was provided and so was a company in difficulty.
Denne vurdering støttes af, at tre banker trak sig ud af finansieringen af Birias aktiviteter og endog var parat til at give afkald på en stor del af deres fordringer, hvis de resterende fordringer blev indfriet omgående.
This assessment is borne out by the fact that three banks withdrew from the financing of Biria's activities and even agreed to waive a large part of their claims in return for the immediate redemption of remaining claims.
Det viser, at bankerne havde alvorlig tvivl med hensyn til, hvorvidt Biria kunne honorere sine forpligtelser og betragtes som en rentabel virksomhed.
This shows that the banks had serious doubts as to whether Biria would be able to service its debts and was to be regarded as a viable company.
Over for dette argument hævder Tyskland, at bankerne trak sig ud af finansieringen på grund af en omlægning af deres forretningsstrategi.
Germany argues that the banks withdrew from the financing only because of a refocusing of their business strategy.
Kommissionen konstaterer, at bankerne sandsynligvis har givet afkald på ca. 50 % af de udestående fordringer. Selv i tilfælde af, at bankerne har trukket sig ud af finansieringen på grund af en omlægning af deres forretningsstrategi, er det et tegn på, at bankerne anså det for højst usandsynligt, at de ville kunne få det fuldstændige beløb af deres lån hjem.
The Commission notes that the banks agreed to waive probably around 50 % of their claims, which, even if the banks withdrew because of a refocusing of their business strategy, is a sign that the banks considered it unlikely that they would be able to recover the full amount of the loans.
Kommissionen konkluderer derfor, at Biria GmbH på tidspunktet, hvor garantien blev stillet, skulle betragtes som en kriseramt virksomhed, og at garantien derfor skal betragtes som garanti til omstrukturering.
The Commission thus comes to the conclusion that Biria GmbH has to be viewed as a company in difficulty at the time the guarantee was provided and that the guarantee has accordingly to be viewed as a restructuring guarantee.
Statsstøtte i den i EF-traktatens artikel 87, stk. 1 anførte betydning
State aid within the meaning of Article 87(1) of the EC Treaty
Ifølge EF-Domstolens retspraksis er kriteriet for påvirkning af samhandelen opfyldt, hvis støttemodtageren udøver en økonomisk virksomhed, der er genstand for samhandelen mellem medlemsstaterne.
Pursuant to the established case law of the European Courts, the criterion of trade being affected is met if the recipient firm carries out an economic activity involving trade between Member States.
Det passive kapitalindskud (foranstaltning 1) blev foretaget af gbb.
The silent participation (Measure 1) was provided by gbb.
Ifølge de tyske oplysninger blev indskuddet foretaget som led i gbb’s eget program, således at der ikke var involveret statslige midler.
Germany claims that this took place under the ‘Eigenprogramm’ of the gbb so that no state support was involved.
Gbb varetager endvidere udviklingsopgaver og var således ansvarlig for Østtysklands konsoliderings- og vækstfond (Konsolidierungs- und Wachstumsfonds Ostdeutschland), som havde til opgave at stille kapital til rådighed for mellemstore virksomheder i Østtyskland for at styrke deres kapitalgrundlag.
For example, it was responsible for the Consolidation and Growth Fund for Eastern Germany (‘Konsolidierungs- und Wachstumsfonds Ostdeutschland’), which is entrusted with providing equity capital to medium-sized companies in eastern Germany to strengthen their equity capital base.
Kommissionen finder derfor, at denne foranstaltning kan henføres til staten.
The Commission therefore considers that the measure is imputable to the State.
Som anført i punkt 59-62 fik Bike Systems også en fordel af foranstaltningen, som virksomheden ikke kunne have opnået på markedet.
As pointed out in paragraphs 59 to 62, the measure also conferred on Bike Systems an advantage that the company would not have obtained on the market.
De garantier, der betegnes som foranstaltning 2 og 3, blev stillet af delstaten Sachsen og stammer derfor fra statslige midler og skal henføres til staten.
The guarantees under Measures 2 and 3 were provided by the Land of Saxony. They thus stem from state resources and are imputable to the State.
Garantierne begunstigede Sachsen Zweirad GmbH og Biria GmbH (i dag Biria AG), da de to virksomheder ikke kunne have opnået disse garantier på markedet på samme vilkår.
The guarantees confer an advantage on Sachsen Zweirad GmbH and Biria GmbH (now Biria AG) as the two companies would not have been able to obtain the guarantees on the market on the same conditions.
Såvel Bike Systems som Sachsen Zweirad GmbH og Biria GmbH fremstiller cykler.
Bike Systems as well as Sachsen Zweirad GmbH and Biria GmbH manufacture bicycles.
Da der handles med dette produkt på tværs af grænserne, truer foranstaltningerne med at fordreje konkurrencen og påvirke samhandelen mellem medlemsstaterne.
As this product is traded across borders, the measures threaten to distort competition and affect trade between Member States.
Kommissionen konkluderer derfor, at det passive kapitalindskud og de to garantier er statsstøtte efter EF-traktatens artikel 87, stk. 1, og at begge garantier ikke er stillet i overensstemmelse med en godkendt støtteordning.
The Commission concludes therefore that the silent participation and the two guarantees constitute state aid within the meaning of Article 87(1) of the EC Treaty and that the two guarantees were not provided under an approved aid scheme.
Foranstaltning 1, 2 og 3 udgør derfor ny støtte og skal derfor vurderes som sådan.
Measures 1, 2 and 3 thus constitute new aid which has to be assessed accordingly.
Støtteelement i foranstaltning 1
Aid element of Measure 1
Kommissionen er af den opfattelse, at støtteelementet i det passive kapitalindskud udgør forskellen mellem den kompensation, Bike Systems skulle have betalt på det frie marked for det passive kapitalindskud, og den faktisk betalte kompensation.
The Commission considers that the aid element of the silent participation should be calculated as the difference between the remuneration that Bike Systems would have paid on the market for the silent participation and the remuneration actually paid.
Da Bike Systems var i vanskeligheder, da det passive kapitalindskud blev foretaget, og den hermed forbundne risiko var høj, kan støtteelementet udgøre op til 100 % af det passive kapitalindskud, da ingen markedsøkonomisk investor ville have foretaget et sådant indskud (se punkt 3.2. i Kommissionens meddelelse om anvendelsen af EF-traktatens artikel 87 og 88 på statsstøtte i form af forpligtelser og garantier [7]).
As Bike Systems was in difficulty when the silent participation was provided and as the associated risk was high, the aid element could amount to as much as 100 % of the silent participation as no market economy investor would have provided the participation (see point 3.2 of the Commission notice on the application of Articles 87 and 88 of the EC Treaty to state aid in the form of guarantees [7]).
Ifølge Kommissionens meddelelse om metoden for fastsættelse af reference- og forretningssatser [8] skal referencesatserne afspejle den gennemsnitlige sats for de gældende rentesatser for mellem- og langsigtede lån med normal sikkerhed.
According to the Commission notice on the method for setting the reference and discount rates [8], reference rates are supposed to reflect the average level of interest rates charged on medium- and long-term loans backed by normal security.
Den således fastsatte referencesats — således hedder det videre — er en minimumssats, som i tilfælde med særlig risiko kan være højere (f.eks. i forbindelse med kriseramte virksomheder, mangel på den sikkerhed, der normalt kræves af banker).
The notice also points out that this reference rate is a floor rate which may be increased in situations involving a particular risk (for example, an undertaking in difficulty or where the security normally required by banks is not provided).
Et passivt kapitalindskud er ikke noget lån, men kan sammenlignes med et lån med særlig stor risiko, fordi det i tilfælde af konkurs, efterstilles samtlige andre krav, herunder de efterstillede lån.
The silent participation is not a loan but can nevertheless be compared to a high-risk loan since, in case of bankruptcy, it is subordinated to all other claims including subordinated loans.
Som nævnt i punkt 61 må situationen for Bike Systems, der netop havde afsluttet en insolvensprocedure, anses for at være usikker.
As explained in paragraph 61, the situation of Bike Systems after it had come out of insolvency should be considered as insecure.
Virksomhedens fremtidsudsigter var usikre, da der kun i begrænset omfang var gennemført en driftsomlægning.
Its future prospects were uncertain as only limited operational restructuring had been carried out.
Som nævnt i punkt 61 skal virksomheden derfor betragtes som kriseramt virksomhed.
As pointed out in the same paragraph, the company is therefore to be regarded as a company in difficulty.
Endvidere blev der ikke stillet nogen sikkerhed for det passive kapitalindskud, hvilket forøger risikoen for misligholdelse.
Moreover, no collateral was provided for the silent participation, increasing the risk of default.
Oveni den manglende sikkerhed er det passive kapitalindskud også efterstillet alle andre lån i tilfælde af konkurs, hvilket bidrager til at øge ovennævnte risiko yderligere.
In addition to the missing collateral, the silent participation is also subordinated to all other loans in the event of insolvency, further increasing the risk of default.
Kommissionen finder derfor i det foreliggende tilfælde, at Bike Systems skulle have betalt en rente, der i det mindste svarede til referencesatsen forhøjet med 400 basispoint, fordi der er tale om en kriseramt virksomhed, samt med yderligere 400 basispoint på grund af den manglende sikkerhed.
In the present case, therefore, the Commission considers that Bike Systems would have had to pay an interest rate at least equal to the reference rate plus a premium of 400 basis points because it was in difficulty and a premium of a further 400 basis points because of the lack of any collateral.
Endvidere anser Kommissionen et tillæg på yderligere 200 basispoint for rimeligt, fordi det passive kapitalindskud i tilfælde af insolvens rangerer lavt i konkursordenen.
It also considers an additional 200 basis points appropriate because of the low ranking of the silent participation in the event of insolvency.
Det er i overensstemmelse med kriterierne i Kommissionens meddelelse om metoden for fastsættelse af referencesatsen og kalkulationsrenten, i henhold til hvilke tillægget i tilfælde af særlige risici, f.eks. i forbindelse med en kriseramt virksomhed eller mangel på den sikkerhed, der normalt kræves af banker, kan udgøre 400 basispoint eller mere.
This is in line with the indications given in the Commission notice on the method for setting the reference and discount rates, which states that in situations involving a particular risk (for example, an undertaking in difficulty or where the security normally required by banks is not provided) the premium may amount to 400 basis points or more.
Støtteelementet svarer derfor til differencen mellem referencesatsen plus 1000 basispoint og den faktiske kompensation for det passive kapitalindskud.
The aid element of the silent participation thus consists in the difference between the reference interest rate plus 1000 basis points and the actual remuneration against which the silent participation was provided.
Ved beregningen af støtteelementet kan der kun til dels tages hensyn til den variable kompensation på 3,5 %, da den er afhængig af, om virksomheden får overskud.
In calculating the aid element, the variable remuneration of 3.5 % can be taken only partly into account as it depends on the company realising profits.
Virksomheden befandt sig imidlertid i en vanskelig situation, og udsigterne til overskud var uklare.
The company's situation was, however, weak and the profit outlook was unclear.
Kommissionen finder det derfor rimeligt, at der kun tages hensyn til 50 % af den variable kompensation, dvs. 1,75 %.
The Commission therefore considers that only 50 % of the variable remuneration should be taken into account, i.e. 1.75 %.
Som reel kompensation, der indgår i beregningen af støtteelementet, medregnes derfor den faste sats på 8,75 % samt halvdelen af den variable kompensation på 3,5 %, hvilket svarer til en samlet rente på 10,5 %.
In calculating the aid element, the actual remuneration should, therefore, be the fixed rate of 8.75 % plus 50 % of the variable remuneration of 3.5 %, giving a total rate of 10.5 %.
Støtteelementet svarer derfor til forskellen mellem referencesatsen med tillæg af 1000 basispoint og kompensationen på 10,5 %.
The aid element consequently consists in the difference between the reference rate plus 1000 basis points and the remuneration of 10.5 %.
Støtteelement i foranstaltning 2 og 3
Aid element of Measures 2 and 3
Garantierne i foranstaltning 2 og 3 gav Sachsen Zweirad GmbH og Biria GmbH mulighed for at opnå mere favorable lånevilkår, end de ellers kunne finde på kapitalmarkedet.
The guarantees in the case of Measures 2 and 3 enabled Sachsen Zweirad GmbH and Biria GmbH to obtain better financial terms for loans than otherwise normally available on the financial markets.
Støtteelementet i garantien i foranstaltning 2 og garantien i foranstaltning 3 svarer til forskellen mellem den rente, som Sachsen Zweirad GmbH og Biria GmbH havde skullet betale for et lån på markedsvilkår (dvs. uden garanti) og den rente, som det garanterede lån rent faktisk blev ydet til.
The aid element of these guarantees is the difference between the interest rate that Sachsen Zweirad GmbH and Biria GmbH would have had to pay on a loan on market conditions, i.e. without a guarantee, and the interest rate at which the guaranteed loan was actually provided.
Denne forskel bør svare til den kompensation, som en kautionist ville have krævet for disse garantier i en situation med markedsøkonomi.
This should correspond to the premium that a market economy guarantor would have required for these guarantees.
Da Sachsen Zweirad GmbH og Biria GmbH var i vanskeligheder, da garantierne og de respektive lån blev ydet, kan støtteelementet udgøre op til 100 % af garantierne, da ingen under nogen omstændigheder ville have ydet lånene uden garanti [9].
As Sachsen Zweirad GmbH and Biria GmbH were in difficulty at the time the guarantees and the loans were provided, the aid element can amount to as much as 100 % of the guarantees as no lender would have provided the loans without a guarantee [9].
Ifølge Kommissionens meddelelse om metoden for fastsættelse af reference- og beregningssatser [10] skal referencesatserne afspejle den gennemsnitlige sats for de gældende rentesatser for mellem- og langsigtede lån med den normale sikkerhed.
According to the Commission notice on the method for setting the reference and discount rates [10], the Commission establishes reference rates which are supposed to reflect the average level of interest rates charged on medium- and long-term loans backed by normal security.
Som nævnt i punkt 66-78 var Sachsen Zweirad GmbH og Biria GmbH kriseramte virksomheder på det tidspunkt, da garantierne blev stillet.
As explained above in paragraphs 66 to 78, Sachsen Zweirad GmbH and Biria GmbH were companies in difficulty at the time the guarantees were provided.
Lånet og garantien til Sachsen Zweirad GmbH var forbundet med en yderligere risiko på grund af den ringe sikkerhed der var tilbudt.
The loan and the guarantee to Sachsen Zweirad GmbH involved an additional risk as the collateral provided was particularly low.
Garantien for lånet til Sachsen Zweirad GmbH var ganske vist sikret af en selvskyldnerkaution, der var stillet af virksomhederne i gruppen.
The guarantee for the loan to Sachsen Zweirad GmbH was secured only by an absolute guarantee (‘selbstschuldnerische Bürgschaft’) provided by the group companies.
Den økonomiske værdi af en sådan selvskyldnerkaution er ubetydelig.
The economic value of such general guarantees is very low.
Kommissionen er derfor af den opfattelse, at Sachsen Zweirad GmbH i det foreliggende tilfælde uden garanti havde skullet betale en rente, der mindst udgjorde referencesatsen plus et tillæg på 400 basispoint, fordi der er tale om en kriseramt virksomhed, samt endnu et tillæg på 400 basispoint på grund af den meget ringe sikkerhed.
Therefore, in the present case, the Commission considers that, without the guarantee, Sachsen Zweirad GmbH would have had to pay an interest rate at least equal to the reference rate plus 400 basis points because it was a company in difficulty and plus a further 400 basis points because of the very low collateral.
Støtteelementet i garantien svarer derfor til differencen mellem referencesatsen med tillæg af 800 basispoint og den faktiske rente, hvortil det garanterede lån blev ydet.
The aid element of the guarantee thus consists in the difference between the reference rate plus 800 basis points and the actual rate at which the guaranteed loan was provided.
Hvad angår lånet og garantien til Biria GmbH var den sikkerhed, der blev stillet herfor større end den sikkerhed, der blev stillet for garantien til Sachsen Zweirad GmbH.
As regards the loan and the guarantee to Biria GmbH, the collateral provided had a higher economic value than that for the guarantee to Sachsen Zweirad GmbH. Nevertheless, the collateral is still lower than that normally required.
Alligevel var sikkerheden ikke så omfattende som det, der normalt kræves.
The guarantee to Biria GmbH is secured by a first-rank mortgage on property of Bike Systems amounting to EUR 15m. The mortgage is, however, subordinated to another loan of EUR 2m.
Garantien til Biria GmbH er sikret med et højtprioriteret pant i Bike Systems formue på 15 mio. EUR. Pantet er dog efterstillet et andet lån på 2 mio. EUR. Dette højtprioriterede pant dækkede derfor kun godt 50 % af det samlede lånebeløb.
This first-rank mortgage therefore covers only just over 50 % of the total sum of the loan.
De øvrige former for sikkerhed (pant, overdragelse af tilgodehavender, pant i virksomhedens varelager og en selvskyldnerkaution fra Biria GmbH’s ejere — var kun af ubetydelig værdi).
The other forms of collateral (mortgages, assignment of claims, assignment of materials in the possession of the group companies and absolute guarantee on the part of the owner of Biria) were of low economic value.
Kommissionen finder derfor, at Biria GmbH i det foreliggende tilfælde burde have betalt en rente svarende mindst til referencesatsen plus et tillæg på 400 basispoint, fordi der er tale om en kriseramt virksomhed, samt et yderligere tillæg på 300 basispoint på grund af den ringe sikkerhed (sammenholdt med et tillæg på 400 basispoint for garantien til Sachsen Zweirad GmbH på grund af den meget ringe sikkerhed).
Consequently, the Commission takes the view that, without the guarantee, Biria GmbH would have had to pay an interest rate at least equal to the reference rate plus 400 basis points because it was a company in difficulty and plus a further 300 basis points because of the low collateral (compared with the premium of 400 basis points for the guarantee to Sachsen Zweirad GmbH because of the very low collateral).
Støtteelementet i garantien svarer derfor til differencen mellem referencesatsen med tillæg af 700 basispoint og den faktiske rente, hvortil det garanterede lån blev ydet.
The aid element of the guarantee thus consists in the difference between the reference rate plus 700 basis points and the actual rate at which the guaranteed loans were provided.
Undtagelser efter EF-traktatens artikel 87, stk. 2 og 3
Derogations under Article 87(2) and (3) of the EC Treaty
EF-traktatens artikel 87, stk. 2 og 3, indeholder undtagelser for det generelle støtteforbud i stk. 1. (95) Undtagelserne i EF-traktatens artikel 87, stk. 1, finder ikke anvendelse i dette tilfælde, da støtteforanstaltningen hverken er af social karakter eller er ydet til enkelte forbrugere.
Article 87(2) and (3) of the EC Treaty provides for exemptions to the general prohibition of state aid as spelt out in Article 87(1).
Den har heller ikke til formål at råde bod på skader, der er forårsaget af naturkatastrofer eller andre usædvanlige begivenheder. Støtteforanstaltningerne ydes heller ikke til fordel for økonomien i visse af Forbundsrepublikken Tysklands områder, som er påvirket af Tysklands deling.
The exemptions in Article 87(2) do not apply in the present case because the aid measures neither have a social character nor are granted to individual consumers; moreover, the measures do not make good the damage caused by natural disasters or exceptional occurrences and are not granted to the economy of certain areas of the Federal Republic of Germany affected by its division.
Undtagelsesbestemmelserne i EF-traktatens artikel 87, stk. 3, litra b) og d), finder heller ikke anvendelse.
The exemptions provided for in Article 87(3)(b) and (d) do not apply either.
De vedrører fremme af vigtige projekter af fælleseuropæisk interesse samt fremme af kultur og bevarelse af kulturarven.
They refer to aid to promote the execution of an important project of common European interest and aid to promote culture and heritage conservation.