natgillin/translations-raw huggingface dataset:
Det skal derfor vurderes, om en privat investor af en størrelse, der kan sammenlignes med organer, som forestår forvaltningen af den offentlige sektor, under tilsvarende omstændigheder kunne tænkes at ville have indskudt en kapital af den omhandlede størrelse i forbindelse med omstruktureringen af den pågældende virksomhed eller ville have valgt en likvidation af virksomheden, navnlig under hensyntagen til de oplysninger, som var tilgængelige, og den forventede udvikling på datoen for kapitalindskuddet [20].
It is thus necessary to assess whether, in similar circumstances, a private investor of a dimension comparable to that of the bodies managing the public sector could have been prevailed upon to make capital contributions of the same size in connection with the restructuring of that undertaking or whether it would instead have chosen to wind it up having regard in particular to the information available and foreseeable developments at the date of those contributions [20].
De belgiske myndigheder anfører, at byens beslutning om at tilbyde AGVO en startkapital på 250 mio. BEF (6179338 EUR) var et økonomisk rationelt valg.
The Belgian authorities argue that the decision of the City to provide an initial capital to AGVO of BEF 250 million (EUR 6179338) was an economically rational choice.
Beslutningen om at omstrukturere auktionen blev truffet på grundlag af en finansieringsplan og en forretningsplan, der viser, at auktionen med begrænsede investeringer kunne blive overskudsgivende igen efter otte år, hvis den ikke overtog tidligere tiders gæld.
The choice to restructure the auction was made on the basis of a financial and business plan showing that, with a limited investment, the auction could become profitable again after eight years if it did not take over the losses of the past.
De belgiske myndigheder fremfører, at en privat investor i samme situation ville have truffet samme beslutning.
The Belgian authorities claim that a private investor in the same situation would have made the same decision.
Kommissionen kan på grundlag af de foreliggende oplysninger ikke tilslutte sig denne holdning.
On the basis of the information available to it, the Commission cannot share this opinion.
Som anført ovenfor klarede Oostende fiskeauktion sig dårligt, og dens markedsandel havde været i konstant tilbagegang i årene før omstruktureringen.
As indicated above, the Ostend fish auction was performing badly and its market share had been decreasing constantly in the years preceding the restructuring.
Kommissionen er af den opfattelse, at en privat virksomhed i en tilsvarende situation ikke ville have valgt at tilbyde en startkapital på over 6 mio. EUR alene på grundlag af en finansieringsplan, hvor det finansielle overslag for perioden 2002/2010 var baseret på en »positiv hypotese« og en forretningsplan på blot to sider.
The Commission considers that a normal private operator, in a similar situation, would not have made the choice to provide an initial capital of more than EUR 6000000 on the basis of merely one financial plan, containing the financial forecast for the period 2002/10 in a ‘positive hypothesis’, and a business plan of just two pages.
Dette bestyrkes af, at AGVO, der — som beskrevet mere indgående i betragtning 259 — viderefører Oostende fiskeauktion, på det tidspunkt, da startkapitalen blev stillet til rådighed, kunne betegnes som en kriseramt virksomhed.
This is all the more so since, as set out in greater detail in recital 259, AGVO, as the continuation of the Ostend fish auction, could be described as a company in difficulty at the time when the initial capital was granted.
Over for en kriseramt virksomhed ville en almindelig privat virksomhed kræve overbevisende forsikringer om virksomhedens fremtidsudsigter og ikke stille sig tilfreds med de dokumenter, der dannede grundlag for byens beslutning.
When faced with a company in difficulties, a normal private operator would have sought solid assurances as to the future prospects of the company and would not have been satisfied with the documents on the basis of which the City took its decision.
Kommissionen understreger på den ene side investeringens omfang og på den anden Oostende fiskeauktions lange forudgående periode med konstante tab [21].
The Commission points out the scale of the investment on the one hand and the long-term situation of ongoing losses of the Ostend fish auction [21] on the other hand.
Især i lyset af disse forhold, kombineret med at virksomheden opererede på et yderst konkurrencepræget marked, ganske vist i tilbagegang, ville en privat virksomhed have baseret sin beslutning på en meget mere detaljeret finansierings- og forretningsplan, som skulle indeholde forskellige hypoteser og scenarier, og ikke blot basere sig på en finansieringsplan, som kun byggede på en enkelt hypotese, der oven i købet blev betegnet som »positiv«.
Especially in the light of these facts, combined with the facts that the firm was operating in a highly competitive but shrinking market, a normal private operator would have based its decision on a much more thorough financial and business plan containing different hypotheses and scenarios instead of taking into account a financial plan based only on one hypothesis, which was, moreover, qualified as ‘positive’.
En almindelig privat virksomhed ville også have anmodet om en undersøgelse af især industriens markedsmuligheder (»market space«) på det pågældende tidspunkt baseret på landingernes værdi og den lokale efterspørgsel samt kræve en plan for, hvordan aktiviteten skulle omstruktureres, hvilke foranstaltninger man overvejede for at undgå fortidens tilbagevendende store tab og styrke produktiviteten (nye instrumenter, ny markedsføringsstrategi osv.).
It would also seem appropriate for a normal private operator to ask for a study of, in particular, the market space available in the industry at the time, based on existing figures for landings and local demand and to require a plan explaining how the activity was to be restructured as well as what measures were contemplated to avoid the recurrence of the heavy losses of the past and to boost productivity (new investments, new marketing strategy, etc.).
Men forretningsplanen indeholder ingen af disse elementer.
However the business plan does not contain any of these elements.
Den er desuden baseret på en række antagelser og forhold, der tages for givet, men som ikke forklares eller begrundes, og som i nogle tilfælde forekommer yderst hypotetiske og usandsynlige.
Moreover, it is based on a number of assumptions and factual elements which are taken for granted but are not explained or justified and sometimes seem to be highly hypothetical or unlikely.
Det er f.eks. vanskeligt at godtage den antagelse, at omsætningen på auktionsaktiviteterne vil stige med 10 % i de efterfølgende fem år, når landingerne og omsætningen i tiden før omstruktureringen var konstant faldende, markedet var blevet yderst konkurrencepræget, og der var en nedadgående tendens for fiskekvoterne.
It is for instance difficult to accept the assumption that the turnover of the auctioning activities will increase by 10 % during the next five years, although in the period before the restructuring the landings and turnover had been steadily decreasing, the market had become highly competitive and the fish quotas were on a decreasing trend.
Yderligere er der ingen redegørelser for beregningen af udgifter til socialbidrag og outsourcing og heller ikke til vand og energi.
There are furthermore no explanations concerning the calculation of the social and outsourcing costs and of the water and energy costs.
I forretningsplanen er disse omkostninger angivet som fuldstændig konstante i de ni år efter oprettelsen af AGVO.
Moreover, in the business plan these costs are indicated as remaining absolutely constant over the nine years following the creation of AGVO.
Det lyder dog temmelig usandsynligt, især da omsætningen forventes at blive fordoblet i samme periode.
This seems however hardly possible, especially when the turnover is expected to double in the same period.
Følgelig forekommer finansieringsplanen og forretningsplanen ikke blot at være meget kortfattede og ufuldstændige, de er heller ikke troværdige.
As a result, the financial plan and the business plan not only appear to be very short and incomplete, they also lack credibility.
En almindelig privat investor ville ikke have brugt dem som grundlag for at investere 250 mio. BEF i en tabsgivende virksomhed på et vigende marked [22].
A normal private investor would not have relied on them in order to invest BEF 250 million in a loss-making undertaking in a shrinking market [22].
Selv hvis man antog, at finansieringsplanen og forretningsplanen var fuldstændige og pålidelige — quod non — bemærker Kommissionen, at en privat investor stadigvæk ikke ville have investeret samme beløb som byen.
Even if it were accepted that the financial and the business plan were complete and reliable, quod non, the Commission observes that a private investor would still not have invested the same amount as the City.
Hvis man baserer sig på finansieringsplanen og forretningsplanen, ville et mindre kapitalbeløb også have været tilstrækkeligt.
Indeed, on the basis of the financial plan and the business plan, it appears that a smaller amount of capital would have been sufficient.
I lyset af det lave kapitalafkast ville en almindelig privat investor ikke have investeret så stort et beløb, når det ikke var nødvendigt.
Given the low return on capital, a normal private operator would not have invested such an amount when it was not necessary.
De belgiske myndigheder finder, at det var mere rationalt at beslutte at videreføre de løbende fiskeauktionsaktiviteter end at lukke auktionen.
The Belgian authorities consider that the decision to pursue the on-going fish auction activities was more rational than closing down.
Men de belgiske myndigheder giver ingen oplysninger om omkostningerne ved at lukke disse aktiviteter og forklarer faktisk heller ikke, hvorfor en lukning ikke ville være en rationel beslutning.
However, the Belgian authorities do not give any indication relating to the costs of winding up these activities and neither do they explain why closing down was not a rational decision.
De belgiske myndigheder forsøger at begrunde, at det var en rationel beslutning, som blev truffet i 2001 om at tilføre AGVO 250 mio. BEF, med beslutningen om at privatisere fiskeauktionen.
The Belgian authorities further try to justify the rationality of the decision taken in 2001 to inject BEF 250 million in AGVO by means of the decision to privatise the fish auction.
De hævder, at den pågående privatisering var led i omstruktureringsplanen fra 2001, og at det ikke var muligt at privatisere fiskeauktionen uden omstruktureringen.
They submit that the current privatisation was part of the restructuring plan decided in 2001 and that no privatisation of the fish auction was possible without the restructuring.
Kommissionen erindrer om, at der ifølge fast retspraksis ved bedømmelsen af, om en stat har iagttaget en handlemåde, som en fornuftig investor ville have fulgt under markedsøkonomiske vilkår, og af, om statens handlemåde er økonomisk rationel, skal foretages en vurdering af situationen, som den var på det tidspunkt, da de finansielle støtteforanstaltninger blev truffet, hvorved der ikke må tages hensyn til omstændighederne, som de har udviklet sig siden hen [23].
The Commission points out that according to consistent case law and practice, in order to examine whether or not the State has adopted the conduct of a prudent investor operating in a market economy, it is necessary to place oneself in the context of the period during which the financial support measures were taken in order to assess the economic rationality of the State’s conduct, and thus to refrain from any assessment based on a later situation [23].
De belgiske myndigheder hævder, at den igangværende privatisering er en del af beslutningen om omstrukturering fra 2001; hvorvidt beslutningen om at omstrukturere fiskeauktionen var rationel, skal derfor vurderes i lyset af privatiseringsprocessen.
The Belgian authorities claim that the current privatisation forms part of the restructuring decision of 2001 and that the rationality of the decision to restructure the fish auction must be assessed in the light of the privatisation procedure.
De forskellige dokumenter fra de belgiske myndigheder underbygger imidlertid ikke deres påstand.
However, the various documents submitted by the Belgian authorities do not support their claim.
Navnlig er denne hensigt om at privatisere fiskeauktionen ikke nævnt i beslutningen om at omstrukturere fiskeauktionen og heller ikke i hverken forretningsplanen eller finansieringsplanen.
In particular, this intention to privatise the fish auction is not mentioned in the decision to restructure the fish auction, the business plan nor in the financial plan.
Intet i disse dokumenter viser, at beslutningen om at investere 6200000 EUR i fiskeauktionen (bl.a.) var motiveret af eller begrundet med, at denne investering ville gøre det muligt at privatisere fiskeauktionen efter et vist tidsrum.
Nothing in those documents indicates that the decision to invest EUR 6200000 in the fish auction was (among others) motivated or justified by the fact that this investment would make it possible to privatise the fish auction after a certain amount of time.
Deres påstand er også svær at forene med AGVO's vedtægter, hvor det hedder, at AGVO oprettes på ubestemt tid, at byen har til hensigt at kontrollere AGVO, og at datterselskaber eller virksomheder, som AGVO har interesser i, skal kontrolleres af AGVO (og dermed af byen).
Their claim is also hard to reconcile with AGVO’s articles of association that indicate that AGVO is established for an indefinite time, that the City has the intention to control AGVO and that subsidiaries or companies in which AGVO holds shares must be controlled by AGVO (and thus by the City).
Man skulle desuden have forventet, at beslutningen om at privatisere ville blive overvejet, når fiskeauktionen igen gav overskud, for at få en bedre pris for fiskeauktionen, i praksis en pris, der i det mindste ville gøre det muligt at dække den supplerende investering på 250 mio. BEF.
Moreover, one would expect that the decision to privatise would be contemplated once the fish auction were again profitable in order to obtain a better price for the fish auction, that is to say a price which would make it possible to recover at least the additional BEF 250 million investment.
Men ikke alene var privatiseringen ikke nævnt i finansieringsplanen og forretningsplanen, privatiseringsbeslutningen blev end ikke truffet på et tidspunkt, hvor fiskeauktionen gav overskud.
However, not only was privatisation not mentioned in either the financial or the business plan, the decision to privatise was not even taken when the fish auction had become profitable.
Tværtimod blev den truffet efter to år med store tab, både for AGVO og for EVO, og efter at Kommissionen havde indledt sin undersøgelse.
It was on the contrary taken after two years of heavy losses affecting both AGVO and EVO and after the Commission had started its investigation.
Privatiseringsperspektivet ser derfor ikke ud til at være en del af den omstruktureringsbeslutning, som byen traf i 2001.
This all seems to indicate that privatisation played no part in the restructuring decision taken by the City in 2001.
Desuden har de belgiske myndigheder angivet, at den kommende private partner vil overtage EVO's goodwill og kan vælge de aktiver, den pågældende måtte ønske at overtage (medarbejdere eller ikke, maskiner eller ikke, fiskefortegnelser eller ikke osv.)
In addition, the Belgian authorities have indicated that the future private partner will take over the goodwill of EVO and can choose the assets he wishes to take over (i.e. to take or leave employees, machinery, fish slates, etc.).
Partneren skal ikke overtage EVO's passiver.
He will not have to take over the liabilities of EVO.
Under disse omstændigheder er det svært at forstå, hvorfor man ikke kunne have gjort noget lignende i 2001/2002 (uden at investere yderligere 250 mio. BEF).
In such circumstances, it is hard to understand why a similar approach could not have been taken in 2001/02 (without investing an additional BEF 250 million).
Hvis alt dette var en del af planen om omstrukturering af fiskeauktionen i 2002, ville en privat investor ikke have accepteret at investere 250 mio. BEF i fiskeauktionen med henblik på at sælge den senere, da han ikke med rimelighed på grundlag af forretningsplanen kunne forvente at få investeringen igen blot ved at sælge auktionens goodwill nogle år senere.
Moreover, if all this had been part of the restructuring plan of the fish auction in 2002, no private investor would have agreed to invest BEF 250 million in the fish auction with a view to reselling it later, as he could not reasonably expect on the basis of the business plan to be able to recoup this investment by the mere sale of the business a few years later.
I den forbindelse har Domstolen udtalt, at en privat investor, der søger at gennemføre en strukturpolitik — globalt eller for en branche — med henblik på mulighederne for at opnå fortjeneste på lang sigt, ikke fornuftigvis kan tillade sig, efter at der i en årrække uafbrudt har været tab, at foretage kapitalindskud, der er betinget af, at virksomheden sælges, hvilket fjerner enhver udsigt til, at den kan give overskud selv på lang sigt [24].
In this regard, the Court has held that a private investor pursuing a structural policy — whether general or sectoral — and guided by prospects of viability in the long-term could not reasonably allow itself, after years of continuous losses, to make a contribution of capital that is linked to the sale of the undertaking, which removes any hope of profit, even in the longer term [24].
De belgiske myndigheder tilføjer, at omstruktureringen efterfulgt af privatiseringen vil gøre det muligt at få dækket investeringerne gennem den leje, der opkræves for leje af fiskeauktionsbygningerne.
The Belgian authorities add that restructuring followed by privatisation will allow recovery of the investments through the rent to be charged for the fish auction buildings.
Dette argument er dog heller ikke overbevisende.
However, this argument is not convincing either.
Derved ville byen allerede fra 2002 have kunnet få dækket det store beløb, der var blevet brugt på Oostende fiskeauktion før omstruktureringen, eller i det mindste få dækket den finansielle byrde ved tilbagebetalingen af banklånene i stedet for at løbe en meget stor risiko (især i lyset af auktionens tidligere dårlige resultater) for at øge de tab, som ville skulle dækkes på et senere tidspunkt.
This might have allowed the City already to recover from 2002 part of the considerable amount of money spent for the Ostend fish auction before its restructuring or at least to cover the financial burden of the repaying the bank loans instead of running the very high risk — especially in light of the earlier poor performance of the auction — of increasing the losses that would need to be recovered at a later stage.
De belgiske myndigheder understreger, at beslutningen om at omstrukturere fiskeauktionen ikke var nogen let beslutning, da den i første omgang blev afvist af byens offentlige tilsynsmyndighed (toezichtautoriteit), fordi der ikke var udsigt til, at fiskeauktionen ville blive levedygtig.
The Belgian authorities further stress that the decision to restructure the fish auction was not taken lightly, as the decision was first rejected by the public authority monitoring the City (toezichtautoriteit) because there was not enough likelihood that the fish auction could become viable.
De dokumenter, som Kommissionen har adgang til, viser, at beslutningen om at omstrukturere auktionen først blev afvist, fordi man på grundlag af den første finansieringsplan kunne forvente akkumulerede tab på 190000000 BEF efter fem år.
Indeed, the documents provided to the Commission show that the decision to restructure the auction was first rejected because, on the basis of a first financial plan, cumulated losses of BEF 190 million were to be expected after five years.
I stedet for at gøre beslutningen mere rationel viser dette element i første omgang, at hensigten om at omstrukturere fiskeauktionen og tilføre den ny kapital ikke engang var baseret på en formodning om, at fiskeauktionen kunne blive overskudsgivende igen efter en vis tid.
Instead of making the decision more rational this element reveals that from the start the intention to restructure the fish auction and provide it with fresh additional capital was not even based on the idea that the fish auction would become profitable again after a certain period.
Det får den anden finansieringsplan til at se endnu mere ufuldstændig og upålidelig ud, da der ikke gives nogen forklaring på, hvordan det var muligt at nå til så forskellige resultater i den første og den anden plan.
Moreover, it makes the second financial plan appear even less complete and reliable, as no explanation is given as to how it was possible to come to such different results in the first and the second plan.
Det er således endnu mindre sandsynligt, at en privat investor ville have besluttet at investere yderligere 250 mio. BEF i auktionen under disse forhold.
It is thus even less likely that a private investor would have taken the decision to invest an additional BEF 250 million in the auction under the same circumstances.
På grundlag af ovenstående elementer konkluderer Kommissionen, at en almindelig privat investor under samme forhold ikke ville have besluttet at investere 250 mio. BEF i auktionen.
On the basis of the above elements, the Commission concludes that the decision to invest BEF 250 million in the auction would not have been taken under the same circumstances by a normal private investor.
Dette bekræftes også af de dokumenter, Kommissionen har fået tilstillet.
This is also confirmed by the documents provided to the Commission.
De viser, at en af grundene til, at det blev besluttet at omstrukturere auktionen i stedet for at lukke den, var politiske og sociale hensyn, da omstruktureringen ville være med til at sikre beskæftigelsen i en by, hvor arbejdsløsheden var over 12 % [25], en grund, som en privat investor ikke ville have taget i betragtning [26].
They show that one of the reasons why it was decided to restructure the auction instead of winding it up was of a political and social nature, since the restructuring would help maintain employment in a city where unemployment rates were over 12 % [25], a reason that a private investor would not have taken any account of [26].
Følgelig skaffer denne handling AGVO en fordel sammenholdt med konkurrenterne, og den begunstiger således denne virksomhed efter artikel 107, stk. 1, i TEUF.
Consequently, this action provides AGVO with an advantage compared to its competitors and thus favours this undertaking within the meaning of Article 107(1) of the TFEU.
Ifølge artikel 30 i virksomhedens vedtægter har AGVO siden oprettelsen haft eneret til vederlagsfrit at bruge grunde og bygninger i Oostende fiskerihavn.
According to Article 30 of its articles of association, since its establishment AGVO has had the exclusive right to use, free of charge, the land and buildings of the Ostend fishing port.
I 2004 blev forskellige bygninger og infrastrukturer i Oostende fiskerihavn, der i henhold til byens optegnelser udgør i alt 57500 m2, indskudt i AGVO, idet AGVO fik overdraget den fulde ejendomsret.
In 2004, various buildings and infrastructures located in the Ostend fishing port and representing, according to the City’s records of that time, 57500 m2, were contributed to AGVO by granting it full ownership.
Ifølge kommunens regnskaber var denne ejendoms bogførte værdi på det tidspunkt 14891524 EUR. Kommissionen har ikke modtaget oplysninger, der gør det muligt at vurdere den faste ejendoms markedsværdi på det tidspunkt, den blev overdraget til AGVO.
According to the municipal accounts, this property had at that time a book value of EUR 14891524. The Commission has not received information that would allow it to determine the market value of the real estate at the time it was transferred to AGVO.