natgillin/translations-raw huggingface dataset:
I marts 2002 blev der indledt tre særskilte konkursprocedurer mod Schneider AG og de to datterselskaber.
In March 2002, three separate sets of insolvency proceedings were initiated in respect of Schneider AG and its two subsidiaries.
Kuratoren solgte Schneider AG og SE's aktiver til den kinesiske elektronikvirksomhed TCL og SLT's aktiver til Jenoptik Laser, Optik, Systeme GmbH (herefter »LOS«).
The insolvency administrator sold the assets of Schneider AG and SE to the Chinese electronics company TCL, and the assets of SLT to Jenoptik Laser, Optik, Systeme GmbH (‘LOS’).
TCL og LOS havde hver især fremsat de største tilbud.
TCL and LOS had made the highest respective offers.
FINANSIELLE FORANSTALTNINGER
THE FINANCIAL MEASURES
I sin beslutning om procedurens indledning gav Kommissionen udtryk for tvivl med hensyn til, hvorvidt nedenstående foranstaltninger var forenelige med fællesmarkedet.
In its decision to initiate the procedure, the Commission expressed doubts as to the compatibility of the following two sets of measures.
DE TRE LFA-LÅN
THE THREE LFA LOANS
De tre LfA-lån var en del af en pakke, der i efteråret 1999 aftaltes mellem LfA, Lehman Brothers, klageren og en bankpool.
The three LfA loans were part of a package agreed in autumn 1999 between the LfA, Lehman Brothers, the complainant and a pool of banks.
Tyskland anførte, at virksomheden i 1998 kørte med underskud, efter at man uden held havde forsøgt at øge salget af tv-apparater gennem en specialiseret detailkæde.
Germany explained that, in 1998, the company had to face losses because the attempt to increase sales of television sets through the specialised retail channel had failed.
Ledelsen besluttede derfor at omstrukturere virksomheden og udvide OEM-aktiviteterne.
The management therefore decided to restructure the company and to reinforce the OEM (original equipment manufacturer) business.
Virksomheden havde brug for likviditet for at finansiere omstruktureringen, forfinansiere produktionen til store ordrer og dække tabet.
Liquidity was needed to finance the restructuring, prefinance the production for large-scale orders and cover the losses.
Det første LfA-lån (»lån 1«) på 2,1 mio. EUR blev bevilget i september 1999 til en rente på [...] %.
The first LfA loan (‘loan 1’) amounted to EUR 2,1 million and was granted in September 1999. The interest rate was [...] %.
Det andet LfA-lån (»lån 2«) på 5,1 mio. EUR blev ligeledes ydet i september 1999 til en rente på [...] %.
The second loan (‘loan 2’) amounted to EUR 5,1 million and was also granted in September 1999. The interest rate was [...] %.
Det tredje lån (»lån 3«) på 5,6 mio. EUR blev ydet i februar 2000 til en rente på [...] %.
The third loan (‘loan 3’) amounted to EUR 5,6 million, was granted in February 2000 and the interest rate was [...] %.
De to første lån havde en løbetid på et år, lån 3 løb indtil 31. december 2001 og havde dermed en løbetid på næsten to år.
The first two loans were granted for a duration of one year, while loan 3 was granted until 31 December 2001, i.e. for almost two years.
Lån 1 var hovedsagelig sikret ved pant i fast ejendom og varelager samt ved en samlet overdragelse af fordringer.
Loan 1 was secured by several collateral items such as a charge on land, the cession of receivables and a product property transfer by way of security.
Denne sikkerhed var dog efterstillet poolbankernes krav. Disse banker havde ydet lån på et tidligere tidspunkt.
These collateral items were ranked below the securities granted to the pool banks, whose loans had been granted earlier.
Lån 2 og 3 blev bevilget uden yderligere sikkerhed.
Loans 2 and 3 were not secured by any collateral.
Tyskland anførte, at der i stedet for sikkerhed var aftalt en højere rentesats.
Germany explained that securities had been replaced by a higher interest rate.
Den faktiske værdi af den sikkerhed, som LfA havde som aktionær i Schneider AG, var yderst begrænset, da aktionærlån efter tysk ret efter al sandsynlighed (§ 30 i GmbHG) ville blive betragtet som et supplerende indskud i egenkapitalen.
The actual value of securities for the LfA as a shareholder was very limited because it was likely that the shareholder loan would be treated as equivalent to a capital injection under German law (Section 30 of the Law concerning Companies with Limited Liability).
De private partnere bidrog med følgende beløb til pakken:
The contributions by the private parties to the package were as follows:
Lehman Brothers (i) tilførte for det første i slutningen af 1999 virksomheden 25 mio. EUR via køb af SLT-aktier der hidtil var ejet af Daimler Chrysler, og blev (ii) i februar 2000 desuden hovedinvestor, da Lehman i forbindelse med endnu en kapitaludvidelse, indskød yderligere 46 mio. EUR, der skulle anvendes til at finansiere videreudviklingen af laseraktiviteterne.
Lehman Brothers first injected EUR 25 million into the firm at the end of 1999 to purchase the shares in SLT until then held by Daimler Chrysler and (ii) was lead investor in a further capital increase in February 2000 by an additional EUR 46 million for the financing of the further development of the laser business.
De private poolbanker havde i 1998 indrømmet Schneider AG en kreditlinje på 31 mio. EUR. Den aftalte rente herfor var på [...] %.
The pool of private banks had granted Schneider AG a credit line of EUR 31 million in 1998. The agreed interest rate was [...] %.
I september 1999 blev det udtrykkeligt aftalt, at denne kreditlinje skulle opretholdes som led i pakken.
This credit line was expressly upheld in September 1999 as part of the package.
Poolbankerne accepterede endvidere en kortfristet overskridelse af kreditlinjen på indtil [...] EUR. Samme måned forhøjede den førende poolbank sin rente til [...] %.
In addition, the pool banks accepted a short-term exceeding of the credit line up to EUR [...]. In the same month, the pool leader increased its interest rate to [...] %.
Tyskland anførte, at der ikke forelå oplysninger om, hvorvidt de øvrige poolbanker havde ændret den oprindelige aftalte rentesats på [...] %.
Germany explained that it had no information as to any deviation by the other pool banks from the originally agreed interest rate of [...] %.
Klageren ydede et aktionærlån på 7,7 mio. EUR på samme betingelser som poolbankerne.
The complainant provided a shareholder loan amounting to EUR 7,7 million on the same conditions as the pool banks.
F&U-TILSKUD
THE R&D SUBSIDIES
I 1994 og 1997 bevilgede Bayrische Forschungsstiftung (BFS) Schneider AG to tilskud på i alt 9050121,88 EUR.
In 1994 and 1997, the BFS provided two grants to Schneider AG totalling EUR 9050121,88.
Projekt 1 (»Laser-Display-teknologi«)
Project 1 (‘Laser-Display-Technologie’)
Det første tilskud på 6498468,68 EUR blev bevilget 16. december 1994 og skulle anvendes til at finansiere projektet »Laser-Display-teknologi« (»projekt 1«).
The first subsidy amounted to EUR 6498468,68. It was granted on 16 December 1994 with the aim of co-financing the ‘Laser-Display-Technologie’ project (‘project 1’).
Dette tilskud blev udbetalt i forskellige rater i projektets løbetid, dvs. mellem januar 1995 og juni 1997.
The aid was disbursed in several instalments over the lifetime of the project, i.e. between January 1995 and June 1997.
De støtteberettigede omkostninger androg 12484972,74 EUR med en støtteintensitet på 48,9 %.
Eligible costs amounted to EUR 12484972,74, while the aid intensity amounted to 48,9 %.
Målet for projekt 1 var at skabe grundlag for nye arbejdsmetoder for projektion af store højtopløselige farvebilleder til forskellige anvendelsesområder og udvikle de videnskabelige/teknologiske grundlag for enkeltkomponenter i det senere system.
Project 1 focused on creating the bases for new working methods for the projecting of large, high-resolution colour images for different applications and the scientific and technological bases for the individual components of the future system.
Støtten var baseret på følgende projektomkostninger:
The following project costs were taken into account when granting the aid:
Projektomkostninger
Project element
Omkostninger (i EUR)
Cost in EUR
Personaleudgifter (inkl. rejseomkostninger)
Personnel costs (incl. travelling expenses)
Andre driftsudgifter (materialer og forsyninger)
Other operating expenses (material and supplies)
Instrumenter og udstyr
Cost of instruments and equipment
Forskning gennemført af udenforstående kilder
Cost of research by third parties
Yderligere generalomkostninger
Additional overheads
Tyskland bekræftede, at omkostningerne opstod direkte i forbindelse med forskningsprojektet.
Germany has confirmed that the costs were incurred directly as a result of the research project.
I overensstemmelse med finansieringsaftalerne blev projektresultaterne stillet til rådighed for offentligheden og gjort bredt tilgængelig.
In accordance with the grant agreements, the results of the project were presented to a broad public and made generally available.
BFS finansierede endvidere 100 % af et forskningsprojekt ved universitetet Würzburg vedrørende »Blå Laser«.
The BFS also financed 100 % of a ‘blue laser’ research project carried out by the University of Würzburg.
Projektomkostningerne androg 0,26 mio. EUR. Projekt 1 og projektet »Blå Laser« blev efter ønske fra BFS koblet sammen, i forventning om en mulig udveksling af videnskabelig knowhow.
The project costs were EUR 0,26 million. At the BFS's request, project 1 and the ‘blue laser’ project were associated with each other in the expectation of a mutual know-how exchange.
Projekt 2 (»Laser-Display-teknologi — Systemintegration og prototyper«)
Project 2 (‘Laser-Display-Technologie — Systemintegration und Prototypen’)
Det andet tilskud på 2551653,20 EUR blev bevilget 23. juli 1997.
The second grant amounted to EUR 2551653,20 and was awarded on 23 July 1997.
Tilskuddet skulle anvendes til at finansiere projektet »Laser-Display-teknologi — Systemintegration og prototyper« (herefter »projekt 2«) i tilknytning til projekt 1.
It was intended to finance the project ‘Laser-Display-Technologie — Systemintegration und Prototypen’ (‘project 2’), which followed project 1.
Dette tilskud blev udbetalt i flere rater i projektets levetid, dvs. mellem april 1997 og september 1999.
The aid was disbursed in several instalments over the project's lifetime, i.e. between April 1997 and September 1999.
De støtteberettigede omkostninger blev anslået til 5103293,22 EUR, således at støtteintensiteten androg 50 %.
The planned eligible costs amounted to EUR 5103293,22, with the result that the aid intensity amounted to 50 %.
Under projekt 2 skulle resultaterne af projekt 1 videreudvikles; endvidere skulle der gøres forsøg på at integrere de vigtigste enkeltkomponenter i et samlet system.
Project 2 concerned further elaboration on the results of project 1 and the attempt to integrate the individual key components into an overall system.
Arbejdet omfattede endvidere undersøgelser vedrørende billedproduktion med pikosekund-impulslaser, de enkelte komponenters laserresistens samt miniaturisering af monokrone lasersystemer.
It comprised studies into image production with picosecond impulse lasers, laser resistance of the individual components and basic research into the miniaturisation of monochrome laser systems.
Omkostninger (i EUR)
Cost in euro
Personaleudgifter
Personnel costs
Efter anmodning skulle licensrettigheder tildeles efter markedsvilkår.
Upon request, user rights had to be granted at market rates.
BEGRUNDELSE FOR PROCEDURENS INDLEDNING
REASONS FOR INITIATING THE FORMAL INVESTIGATION PROCEDURE
Hvad angår de tre lån fandt Kommissionen først, at disse lån sandsynligvis var i overensstemmelse med det markedsøkonomiske investorprincip.
As regards the three loans, the Commission expressed its initial view that they probably fulfilled the market economy investor test.
Den manglede imidlertid mere detaljerede oplysninger for at nå frem til en endelig vurdering.
However, more detailed information was missing in order to enable to Commission to finalise its assessment.
Kommissionen nærede endvidere tvivl om, hvorvidt de to laserteknologiprojekter var i overensstemmelse med Fællesskabets statsstøtteregler.
The Commission further doubted that the R&D grants for the two laser technology projects were compatible with the state aid rules.
BEMÆRKNINGER FRA TREDJEPART
COMMENTS FROM THIRD PARTIES
Kommissionen modtog ikke bemærkninger fra nogen tredjepart.
No comments were submitted by third parties.
V. TYSKLANDS SYNSPUNKT
V. COMMENTS FROM GERMANY
I sine bemærkninger til procedurens indledning anførte Tyskland, at lånene ikke udgjorde statsstøtte, da de var forenelige med det markedsøkonomiske investorprincip.
In its comments on the initiation of the formal investigation procedure, Germany argued that the loans did not constitute state aid because they fulfilled the market economy investor test.
Med hensyn til F&U-støtten bemærkede Tyskland, at begge projekter efter tysk opfattelse burde betragtes som industriforskning, og at støtte på op til 50 % af de støtteberettigede omkostninger var forenelige med de bestemmelser for F&U-støtte, der var gældende, da de enkelte tilskud blev godkendt.
As regards the R&D grants, Germany expressed the opinion that both projects qualified as industrial research and that their subsidisation to the tune of up to 50 % of the eligible cost was therefore compatible with the state aid rules applicable to R&D grants at the time the respective aid awards were made.
Med hensyn til projekt 2 anførte Tyskland, at projektets titel »Systemintegration og prototype« var misvisende, da målsætningen for projektet var at udforske projektets enkeltkomponenter nærmere.
With regard to project 2, Germany emphasized that the title of the project — ‘system integration and prototypes’ — was misleading and that the project had the aim of further deepening research into individual components of the project.
LFA-LÅNENE
THE LFA LOANS
Ifølge artikel 87 i EF-traktaten er statsstøtte eller støtte, som ydes ved hjælp af statsmidler under enhver tænkelig form, og som fordrejer eller truer med at fordreje konkurrencevilkårene ved at begunstige visse virksomheder eller visse produktioner, uforenelig med fællesmarkedet i det omfang, den påvirker samhandelen mellem medlemsstaterne.
Pursuant to Article 87 of the EC Treaty, any aid granted by a Member State or through state resources in any form whatsoever which distorts or threatens to distort competition by favouring certain undertakings or the production of certain goods shall, in so far as it affects trade between Member States, be incompatible with the common market.
For at fastslå, om aktionærlån fra statslige virksomheder udgør statsstøtte efter EF-traktatens artikel 87 skal det undersøges, om en markedsøkonomisk investor under lignende omstændigheder ville yde lån på samme vilkår.
In order to determine whether shareholder loans granted by a public authority constitute state aid within the meaning of Article 87 of the EC Treaty, it is necessary to consider whether in similar circumstances a market economy investor might have provided loans on conditions comparable to the ones granted by the public authority.
Efter Kommissionens opfattelse er der meget der taler for, at de tre lån ikke udgjorde statsstøtte, da de var i overensstemmelse med det markedsøkonomiske investorprincip.
The Commission considers that there are strong indicators that the three loans did not constitute state aid because the market economy investor test is fulfilled.
Ifølge de foreliggende oplysninger var det under de givne omstændigheder i 1999 og 2000 ikke ufornuftigt ud fra en økonomisk synsvinkel at bevilge Schneider AG lån til rentesatser på mellem [...] %, [...] % og [...] % (Kommissionens referencesats: 4,76 %) som senere blev hævet til [...] %,[...] % og [...] % (Kommissionens referencesats: 5,7 %).
The information available to the Commission indicates that granting loans to Schneider AG with interest rates of between [...] %, [...] % and [...] % (Commission reference rate 4,76 %), later increased to [...] %, [...] % and [...] % (Commission reference rate 5,7 %), was not economically irrational in the given circumstances of 1999/2000.
Markedets tillid til Schneider AG's fremtidige overskud — primært på grund af den førende stilling inden for laserteknologi, kom for eksempel til udtryk ved, at Schneider-aktierne mellem 1998 og 2000 steg næsten 10 gange og den strategiske investeringsbank Lehman Brothers efter en meget positiv undersøgelse i denne periode købte yderligere [...] aktier i Schneider AG.
The trust of the market in future profits by Schneider AG, mainly through a leading position in the laser technology business, is evidenced for instance by the almost tenfold increase in the price of Schneider shares between 1998 and 2000 and by the very favourable study by the strategic investment bank Lehman Brothers, which purchased an additional [...] shares in Schneider AG during that period.
I juli 2000 ejedes ca. 50 % af aktiekapitalen af ca. 40 strategiske investorer.
In July 2000, about 50 % of the capital was held by about 40 strategic investors.
For det andet forholdt LfA sig betydeligt mere forsigtig som privat aktionær i Lehman Brothers.
Secondly, compared with the behaviour of the private shareholder Lehman Brothers, the behaviour of the LfA was much more cautious.
For det tredje var LfA's rentesatser højere end poolbankernes, både ved bevillingen af det oprindelige lån (september 1999 og februar 2000) samt ved den senere forlængelse af lånene (september og december 2002).
Thirdly, the LfA interest rates were higher than the rates of the pool banks, both at the time of the original grant of the loans (September 1999 and February 2000) and at the time of the loans' prolongation (September and December 2002).
Til trods herfor er der stadig en vis tvivl med hensyn til lånenes beskaffenhed.
Nevertheless, some doubts persist as to the nature of the loans.
I betragtning af LfA's mandat, der består i at fremme den regionale økonomi, og de foreliggende oplysninger kan Kommissionen ikke udelukke, at formålet med investeringen var at hjælpe Schneider AG over den vanskelige periode og redde arbejdspladser i regionen.
Due to the role of the LfA in promoting the regional economy and on the basis of the information currently available, the Commission cannot exclude that the purpose of the investment was to bridge a difficult period for Schneider AG and to save jobs in the region.
Desuden er det ikke klart, om de højere rentesatser var tilstrækkelig til at dække den manglende sikkerhed.
Further, it is unclear whether the higher interest rates were sufficient to compensate for the lack of collateral.
Schneider AG var i en meget vanskelig økonomisk situation, da lånene blev ydet, og det kunne ikke udelukkes, at projektet med laserteknologien ville blive en fiasko.
Schneider AG was in a difficult financial situation at the time the loans were granted and it was not impossible that the laser technology might fail.
Det er vanskeligt at vurdere, om de højere rentesatser var tilstrækkelige til at dække denne risiko.
But the question whether the increased interest rates were sufficient to counterbalance this risk is difficult to assess.
FORMÅLSLØS BESLUTNING
DECISION WITHOUT OBJECT
Ifølge Kommissionen kan det stå åbent, om LfA-lånene indebærer statsstøtte eller ikke.
The Commission is of the opinion that the question whether the LfA loans qualified as state aid can be left open.
Selv om lånene klassificeres som uforenelig statsstøtte, ville en negativ beslutning med krav om tilbagebetaling af støtten være nytteløs, da der ikke længere findes nogen virksomhed, som enten direkte eller indirekte blev begunstiget af den formodede statsstøtte.
Even if they had to be considered incompatible state aid, a negative decision ordering the aid's recovery would be without object since there is no undertaking existing any more which would have benefited, either directly or indirectly, from the alleged state aid.
Den formelle støttemodtager var Schneider AG.
The formal beneficiary of the loans was Schneider AG.
SE og SLT blev først oprettet, efter at lånene var bevilget, men det kan ikke udelukkes, at de blev begunstiget af lånene.
SE and SLT were created only after the loans had been granted, but there is no reason to exclude that they benefited from the loans.
Konkursproceduren mod de tre Schneider-virksomheder blev indledt i marts 2002, og alle tre virksomheder blev opløst.
The insolvency proceedings against the three Schneider companies were initiated in March 2002, and all three companies were liquidated.
Lånene indgik i konkursmassen.
The loan debt was included in the insolvent estate.
De tre virksomheders aktiver blev solgt af kurator under konkursrettens tilsyn.
The three companies' assets were sold by the insolvency administrator, under the supervision of the insolvency courts.
Kommissionen er af den opfattelse, at de enkelte aktiver blev solgt til markedsprisen, således at fordelen ved støtten ikke blev overført til en af køberne.
The Commission considers that the market price was paid for the respective assets, as a result of which the benefit of the aid was not passed on to any of the purchasers.
De aktiver, som Schneider AG ejede på konkurstidspunktet, bestod af varemærker.
The assets owned by Schneider AG at the time of its liquidation consisted of trade marks.
Efter at kuratoren bistået af M&A-Consultants havde undersøgt det internationale marked for potentielle investorer, blev varemærkerne solgt til TCL (den kinesiske producent af forbrugerelektronik) for 3,48 mio. EUR. Sideløbende hermed var et andet rådgivningsfirma blevet anmodet om at fastsætte varemærkernes værdi.
After a worldwide search for potential investors through an M&A consultant, the insolvency administrator sold the trade marks to the Chinese consumer electronics producer TCL for a purchase price of EUR 3,48 million. At the same time, a second consultant had been asked to value the trade marks.
Der blev fremsat flere bud, der lå klart under TCL's bud.
He received several offers which were significantly lower than that made by TCL.
Kommissionen går derfor ud fra, at varemærkerne blev solgt til markedsprisen.
The Commission therefore considers that the trade marks were sold at their market price.
SE's aktiver, der bestod af fjernsynsproduktionslinjen og lagerbeholdninger, blev solgt til TCL til en samlet pris på 5745480 EUR. Ifølge oplysningerne fra de tyske myndigheder blev der ført indgående forhandlinger med en række potentielle investorer.
SE's assets, consisting of the television production line and stocks, were sold by the insolvency administrator to TCL for a total purchase price of EUR 5745480. According to the information submitted by Germany, the insolvency administrator had conducted extensive discussions with a number of potential investors.
Der var imidlertid meget begrænset interesse for køb af en tv-produktionslinje, der var flere år gammel og tilpasset Schneider AG; der var slet ikke nogen interesse for lagerbeholdningen af tv-apparater, der var uden garanti og eftersalgsservice.
However, there was very limited interest in purchasing a television set production line tailor-made for Schneider AG which was already several years old, and no interest at all in the stock of television sets for which no guarantee and no service could be provided.
TCL fremsatte det største tilbud, som derefter blev anset for at være markedsprisen.
TCL made the highest bid and is therefore considered to have paid the market price.
Hvad angår SLT havde kuratoren givet M&A-Consultants mandat til at sende salgsmateriale til ca. 150 potentielle investorer.
As regards SLT, the insolvency administrator had commissioned an M&A consultant who sent the purchase documentation to about 150 potential investors.
Der blev ført indgående drøftelser med en række potentielle interessenter.
In-depth discussions took place with a number of potentially interested parties.
Interessen var i sidste instans meget ringe på grund af de tekniske problemer med at udvikle Laser-Display-teknologien.
However, owing to technical problems linked to the development of the laser display technology, the actual interest turned out to be very limited.