natgillin/translations-raw huggingface dataset:
Fristen den 17. februar 2014 blev således faktisk forlænget for at give alle bydende mulighed for at ændre deres bud, fremlægge finansieringsdokumentation eller afgive nye bud.
Germany argues that the extension of the formal investigation procedure went against the objective of the concept of rescue aid, that the aid should have led to the avoidance of the imminent insolvency of the NG, MSR and CMHN to give them six months to prepare a restructuring plan, that the shareholders were ready to agree on concrete objectives of the restructuring plan, including the sale of the assets and the following liquidation of NG, MSR and CMHN, that no recovery decision was so far taken against NG and that the criteria of the Deggendorf jurisprudence were thus not fulfilled, and that in view of the unique constellation of the case, an approval of the rescue aid would not create a precedent for other cases.
Da alle kvalificerede bydende var bekendt med denne procedureændring, blev principperne om gennemsigtighed og ligebehandling ikke tilsidesat.
Germany refers to GC T-237/99, 2000, II-3849, point 37 — BP Nederlands and others;
Da sælgerne stillede alle tilgængelige oplysninger til rådighed for alle bydende på samme tid og mindst tre uger inden kreditorudvalgets endelige beslutning om at tildele Capricorn kontrakten vedrørende aktiverne, var der tilstrækkelig tid til at forberede og færdiggøre buddene.
T-111/01, 2001, II-2335, point 26 — Saxonia Edelmetalle.
Gennemsigtighedsprincippet blev derfor overholdt.
CoJ, 56/89, 1989, 1693, point 39 — Publishers Association;
Kommissionen bemærker endvidere, at klager 3 ved sælgernes breve af 19. juli 2013, 17. oktober 2013 og 17. december 2013 blev tilstrækkeligt informeret om reglerne for budproceduren på forhånd.
GC, T-29/92 (R), 1992, II-2161, point 38 and following — SPO and others.
Også med hensyn til adgangen til de relevante oplysninger blev princippet om ligebehandling af de bydende overholdt, da de bydende, der havde kvalificeret sig til den pågældende fase af proceduren, fik samme mængde oplysninger.
Germany refers to CoJ T-20/03 KAHLA/Thüringen Porzellan GmbH, point 124 and following.
Afviklingen af IPC blev registreret i handelsregistret den 4. december 2008.
Germany claims that from the State aid point of view, these measures should be regarded as special effects, not as a regular business of NG, that both the shareholders and business management saw NG as an vehicle to keep the sport infrastructure in public ownership and to organise non-profitable sport events which would not be offered without the coverage of losses by the public funding, that absent this understanding neither the shareholders nor the business management of NG would allow the development of liabilities, and that the costs of these special effects could not therefore be included in the financial assessment.
Afslutningen af afviklingen er endnu ikke blevet meddelt handelsregistret.
For the meaning of the ‘one-time’ principle, see Section 3.3 of the R & R Guidelines.
Virksomheden blev afviklet og slettet i handelsregistret den 11. december 2013.
The measures concerned required an approval of the NG' supervisory board whose members were appointed only by public authorities.
De samlede aktiver blev overført til NG.
The investment volume of Part I equals EUR 215 million (EUR 185 million from the liquidity pool, EUR 30 million through a shareholder loan of the Land).
Disse udbetalinger fandt sted på grundlag af en aftale indgået mellem delstaten og NG den 20. februar 2003 om likviditetspuljen.
Joint Cases T-443/08 and T-455/08 Freistaat Sachsen, Flughafen Leipzig/Halle et al v Commission [2011] ECR II-1311, upheld on appeal, see Case C-288/11 P Mitteldeutsche Flughafen AG and Flughafen Leipzig-Halle GmbH v Commission [2012] ECR I-0000.
Renterne på de pågældende lån svarede til den dagsrente, delstaten opnåede på markedet.
Germany argues that such change in Commission decisional practice goes against the 2007 White Book on sport of the Commission and the principles of legal certainty.
En sådan ændring kan kun finde anvendelse på fremtidige tilfælde, men ikke på opførelsen af sportsinfrastrukturen i tilknytning til Nürburgring, der allerede blev afsluttet i 2011.
Such change could apply only to future cases, not to the construction of the sport infrastructure at Nürburgring already completed in 2011.
Et forbud mod støtte til finansiering af opførelsen og driften af sportsinfrastrukturen ville indebære en forskydning af kompetencefordelingen mellem EU-institutionerne og medlemsstaterne og dermed være i strid med nærhedsprincippet.
A State aid prohibition of financing the construction and operation of sport infrastructure would qualify as a change in the repartition of competences between the EU institutions and the Member States and it would not be in line with the subsidiarity principle.
Se beskrivelsen af RIM på http://test.isb.rlp.de/de/die-isb/beteiligungen/rheinland-pfaelzische-gesellschaft-fuer-immobilien-und-projektmanagement/
Germany states that out of 11 racetracks, 8 were constructed with state monies worldwide between 1999 and 2011, referring to Communication & Network Consulting, Formula Money 2011, page 145.
Siden da er driften af NG, MSR og CMHN blevet varetaget af den såkaldte »Eigenverwalter« eller »Sanierungsgeschäftsführer« og af kuratoren (Sachverwalter) (i det følgende er begge benævnt »kuratorerne«).
In view of point 137 of the decision of 21 March 2012, Germany states that in case of support banks (‘Spezialkreditinstitute’), beneficiaries could be at two levels: (1) special banks;
Ingen af dem er bundet af instrukser fra kapitalejerne.
and (2) enterprises financed by special banks, that advantages of special banks are covered by Agreement II ( ‘Verständigung II’) from 2002 and that the decision of 21 March 2012 suggests that special banks can grant loans only in situations in which the debtor would not receive any loan under the same conditions on the market.
NG, MSR og CMHN beholdt under insolvensbehandlingen revisionsfirmaet KPMG AG (»KPMG«) som den eneste finansielle rådgiver, der på deres vegne skulle organisere salget af deres aktiver og havde ansvaret for alle kontakter med interesserede bydende.
Germany however argues that support banks can grant loans under market conditions (special credit institutes are not limited to granting aid) and that a state aid assessment must be made in each individual case.
Denne undersøgelsesprocedure omfatter finansiering af opførelse og drift af faciliteter i tilknytning til racebanen og turismefaciliteterne inden »Nürburgring 2009«-projektet, opførelse af alle disse faciliteter som led i »Nürburgring 2009«-projektet og afholdelse af Formel 1-løb.
As regards specifically the ISB loan (measure 8), Germany suggests that the advantage encompasses at maximum the difference in the interest between the interest paid on the market and the interest actually paid, but not the total amount of the loan, and that an expert opinion should be commissioned if the Commission doubts this.
Med »Nürburgring 2009«-projektet skulle racerbanen forbedres med forskellige attraktioner for at gøre den mere attraktiv hele året. »Nürburgring 2009«-projektet omfattede et delområde I (hovedsagelig tribune- og underholdningsfaciliteter) og et delområde II (hovedsagelig hotelfaciliteter) [28].
Germany claims that in view of the Agreement II, the Commission agreed to advantages stemming from guarantees in favour of legally separate special credit institutes as long as their activity is limited to a precisely defined public task, and that under these conditions, for instance, the use of special types of guarantees such as Gewährträgerhaftung, Anstaltslast and Refinanzierungsgarantien is compatible with the State aid rules.
Endvidere forhøjede delstaten og Landkreis Ahrweiler NG's kapital med 4887000 EUR [32] den 31. august 2004 og med 10000000 EUR den 4. september 2007.
Germany also states that the Commission acknowledged in its decision of 16 June 2004 in case N179/04 Finnish municipal guarantees that special credit institutes do not constitute undertakings as long as they benefit from public funding only in relation to their public task.
Delstaten og Landkreis Ahrweiler foretog i perioden 2002-2007 kapitaltilførsler til NG på i alt 39905241 EUR.
Germany states that the terms of the loan are completely and independently stipulated for in the instruction of the Land to grant the loan;
Uafhængigt af »Nürburgring 2009«-projektet ydede NG sine datterselskaber de kapitalejerlån på i alt 11176953,14 EUR, der er anført i tabel 1-4.
the ISB had therefore no room for manoeuvre;
Rentesatsen blev aftalt til 6 %, og der blev ikke stillet sikkerhed.
the decision on granting the loan and related risks remained with the Land and that on top of that, due to its loan instruction the Land stands security for the loan on the basis of the German Civil Code.
I forbindelse med Formel 1-løb og »Nürburgring 2009«-projektet [39] har NG deltaget i delstatens likviditetspulje siden henholdsvis 2003 og 2008 [40].
Germany also states that it is not important whether or not the construction costs are covered by the rent because the investment costs constitute sunk costs which have no impact on future decisions of a rationally acting investor.
ISB deltager ligeledes i likviditetspuljen.
In addition, Germany indicated that even if the rent had to amortise the investment costs, the basis would be the planned investments, without unforeseen cost increases, whereas the planned costs of the project were initially EUR 215 million (EUR 135 million for part I of the ‘Nürburgring 2009’ project and EUR 80 for part II of the ‘Nürburgring 2009’ project), but the actual costs were EUR 330 million (EUR 215 million for part I of the ‘Nürburgring 2009’ project and EUR 115 million for part II of the ‘Nürburgring 2009’ project), and that this being taken into account, even the minimum rent in the amount of around EUR 280 million would amortise the planned investments.
Likviditetspuljen har til formål at optimere likviditeten inden for delstatens forskellige holdingvirksomheder, fonde og offentlige virksomheder.
Germany points out that the subsidies should cover the losses of NG from the investments for the increase of the touristic attractiveness of the Nürburgring through the Nürburgring 2009 project, and that the aim was to increase the attractiveness of the Nürburgring over the whole year and by this to promote the structurally weak region through the strengthening of tourism.
Grundlaget for de forskellige virksomheders og fondes deltagelse i likviditetspuljen er en aftale mellem den pågældende virksomhed/fond og delstatens finansministerium.
Germany refers to C-72/91 Sloman Neptun.
I tilfælde af, at efterspørgslen efter likviditet inden for puljen overstiger de midler, der er til rådighed, finansieres likviditetsmanglen på kort sigt på kapitalmarkedet.
Germany also argues that this system aimed to attract as many visitors as possible, to maximise the positive macroeconomic effects and to cover the substantial costs of NG (licence fee, FIA grade 1 licensing of the racetrack).
I perioden fra 30. juni 2003 til 11. maj 2010 ydede delstaten lån til NG på i alt 399805370 EUR (herunder de lån på 53443493 EUR, som delstaten ydede til NG i perioden fra 30. juni 2003 til 30. juni 2009 til Formel 1-løb, og de lån på 170 mio. EUR, som delstaten ydede til NG i perioden fra 23. juni 2008 til 30. juni 2010 til »Nürburgring 2009«-projektet) [41].
Germany states that the assessment of the Commission of NG as an undertaking in difficulty as of 1 July 2008 was inappropriate, that in the context of the notified rescue aid the application of the ‘one-time’ principle was erroneous, that the extension of the formal investigation procedure was not proportional and that the measures are aid-free.
NG er støttemodtager.
Germany argues that the international guests are attracted by the racetrack, not by the accommodation facilities or restaurants.
For disse lån betalte NG et beløb på 1476830,88 EUR til MIB.
Germany thus concludes that the measures concerned have no impact on tourism flows.
MIB's fordringer kunne herved tilbagebetales fuldt ud af NG, som på sin side blev CST's kreditor [46].
Germany refers to Commission decision in case SA.33728 Financing of new multi-arena in Copenhagen, point 33.
fra 1. november 2009:[…] % p.a.
Germany refers to Commission decisions in cases SA.31722 Supporting the Hungarian sport sector via tax benefit scheme, points 86 and following, and SA.33952 Kletteranlagen des Deutschen Alpenvereins, point 68.
Offers handed in after the deadline will also be considered« [65].
Germany refers to SA.33168 Uppsala arena and SA.33728 Financing of new multi-arena in Copenhagen.
Ved brev af 17. december 2013 blev fristen for at indgive bekræftende bud af sælgerne forlænget fra 11. december 2013 til 17. februar 2014. »In order to enable potential investors to complete their analysis of the provided information material and to provide a final offer that fully reflects the value potential of the Nürburgring, the timeline which used to end at 5 p.m.
Judgment in case U 73/12 Kart of 13.12.2012, Oberlandesgericht Koblenz.
CET on 11 December 2013 now ends at 5 p.m.
Germany refers to N 158/2010 Fussballmuseum Dortmund and N 164/2010 Leipziger Reit- und Rennverein Scheibenholz.
CET on 17 February 2014.
However, Germany does not demonstrate that the race ring is protected as a cultural monument under the German law.
For the sake of clarity, offers handed in after that timeline will, in principle, also be considered provided that the terms of the offer qualify for the further process.
Germany claims that the public interest was in macroeconomic/regional-economic effects and the promotion of sport and culture, there was a market failure since the measures were not possible without State support, the turnover was below EUR 100 million during the three years preceding the measures, the aid was below EUR 30 million annually, the entrustment act was constituted by the statutes of NG and the approval by the supervisory board of NG covered by a decision of the government of the Land and the calculation parameters could be deduced from the updated business plans.
Any disadvantage caused by the delay will not be compensated for and will have to be fully borne by the investor.
Germany also argues that the SGEI package entered into force only at the end of 2006, that for the period before, there were therefore no additional provisions about the form of the entrustment act, and that for the period after, the qualification as existing aid is appropriate.
Closing probability«. [»Budpris for de aktiver, der er omfattet af det pågældende bud; mulige værdimæssige konsekvenser for de aktier, der ikke er omfattet af buddet, hvis relevant;
OJ C 6, 11.1.2011, p. 6
omkostninger til den yderligere udskillelse af de aktiver, der er omfattet af det pågældende bud, hvis relevant; omkostninger til gennemførelsen af væsentlige antagelser og betingelser i det pågældende bud samt sandsynlighed for afslutning«].
In this context, Germany refers to Commission decisions in cases C 38/2005 Biria Gruppe, point 93; C 51/06 Arcelor Huta Warszawa, point 111 and following; C 43/2001 Chemischen Werke Piesteritz, point 107 and following; and judgment of the General Court in case T-102/07 and T-120/07 Freistaat Sachsen/Commission, point 218.
Ved procesbreve af 17. oktober 2013 og af 17. december 2013 blev de bydende, der havde afgivet et kvalificeret bud, informeret om følgende:
Complainant 1 submitted a letter of the competent local court of 29 January 2014, in which the said court stated that in case of the own administration, the insolvency court and the insolvency administrator do not carry out the sale of assets, but they only supervise that sale, and in which the court found thus no basis for an intervention in the sale of the assets.
vejledende eller endelige bud ville også blive taget i betragtning, hvis de blev modtaget efter udløbet af den pågældende budfrist, såfremt buddene opfyldt betingelserne for den næste runde, b) ulemperne ved en fristoverskridelse ville fuldt ud blive båret af den pågældende bydende, og c) sælgerne ville muligvis træffe udvælgelsesbeslutningen allerede kort tid efter budfristen.
The insolvency administrators refer to the judgment of the Court of 16 December 2010 in case C-239/09 Seydaland, recital 34.
I modsætning til multiarenaer finder der her kun en eller to løbsserier sted om året Derfor havde ingen privat investor været rede til at opføre eller finansiere en sådan infrastruktur.
Council Directive 2001/23/EC of 12 March 2001 on the approximation of the laws of the Member States relating to the safeguarding of employees' rights in the event of transfers of undertakings, businesses or parts of undertakings or businesses (OJ L 82, 22.3.2001, p. 16).
I modsætning til de aktiviteter i Nürburgring, som selskabet forvaltede, var det heller ikke til salg.
EUR 90 million to be paid as cash payment upon closing; (2) EUR 20 million payable by 31 March 2014; and (3) the maximum amount of EUR 40 million to be paid as earn-out in the amount of 20 % of the respective annual EBITDA of the Nürburgring complex after the acquisition by complainant 3.
De »fact books«, som sælgerne havde stillet til rådighed, var indholdsmæssigt ukorrekte og vildledende; navnlig var den foreslåede »clean balance sheet«-transaktionsstruktur ikke gennemførlig.
On top of that, complainant 3 claims to have committed to set up a development fund of EUR 200 million for the local communities surrounding the Nürburgring.
Den omstændighed, at sælgerne var ejerselskaberne, og at NBG forestod driftsaktiviteterne, var allerede blevet meddelt alle interesserede i den teaser, der var blevet sendt til klager 3 den 17. maj 2013.
Complainant 3 claims that on the one hand, there is reasonable doubt that Capricorn was able to provide a binding financing commitment for the entire purchase price on the date of the expiry of the deadline on 17 February 2014 and the decision on the successful bidder was held back just until Capricorn had fulfilled all formal requirements, whereas on the other hand complainant 3 was, as announced in the final offer, able to provide a binding financing commitment over EUR 90 million.
Hvis klager 3 faktisk — som påstået — først fik kendskab til NBG's aktivitet under due diligence-proceduren, kan det ifølge kuratorerne heraf kun konkluderes, at klager 3 ikke havde sat sig tilstrækkeligt ind i det omfangsrige materiale, der var stillet til rådighed med henblik på afgivelse af det vejledende bud.
Complainant 3 adds that other bidders like complainant 3 were provided with false information, that complainant 3 intended to start negotiations with its own favourite suppliers in spring 2014 in order to fine-tune its financial offer for the ring assets, and that however, complainant 3 was told by the sellers that for example the beer supply could not be changed in 2014 since otherwise complainant 3 would be forced to take over liability for any damage claims resulting from NBG's failure to fulfil its contractual obligations to the existing beer supplier anymore.
Sælgerne havde på intet tidspunkt krævet, at køberen skulle overtage NBG's kontrakter.
Pursuant to complainant 3, the change of the beer supplier from Warsteiner to Bitburger proves that the information provided to complainant 3 was false and that complainant 3 as a bidder was deliberately misled.
Køberens overtagelse af forpagtningskontrakten mellem sælgerne og NBG var under ingen omstændigheder overvejet af kuratorerne på grund af NBG's særlige situation med hensyn til, at salget var planlagt fra begyndelsen.
Complainant 3 claims that the process letter of 17 June 2013 requires a guarantee for the payment of the purchase price payable upon first demand and issued by a reputable European Bank, that Capricorn was not able to provide a full guarantee which covers the entire purchase price, and that the sellers must have altered its own payment conditions in order to bring the award in line with its announced process terms.
Kuratorerne har gjort gældende, at klager 3 meget sent havde erkendt, at man i tilfælde af en overtagelse af aktiverne pr. 1. januar 2014 ville få en i vidt omfang »tom« Nürburgring, og at de tilstræbte nye kontrakter med kunder og sponsorer først ville føre til (øgede) indtægter i 2015-sæsonen på grund af forberedelsestiden i forbindelse med (løbs)arrangementer.
Complainant 3 claims that he had submitted its bid in full awareness and compliance with noise emission regulations under statutory law.
Desuden havde sælgerne gentagne gange understreget, at de bydende selv frit kunne definere købsgenstanden.
Complainant 3 refers to the judgment of the Court in case C-482/99 Stardust Marine, recitals 54-55, and to Commission decisions in case Gerorgsmarienhütte (OJ C 199, 14.7.2001, p. 4) recital 27, in case Flughafen Dortmund (OJ C 217, 15.9.2007, p. 25), recitals 54-55, and in case N 510/2008 Alitalia.
NG's årsomsætning faldt i denne periode med 80 % til i alt 89,4 mio. EUR, og virksomheden havde underskud i næsten alle år i denne periode, b) i hele referenceperioden havde NG en meget stor gældsætning, der steg fra 119 % af omsætningen i 2002 til 4150 % af omsætningen i 2011, c) endog i 2004 og 2005, hvor virksomhedens gæld faldt til under 100 % af omsætningen, var gældsætningen på ca. 70 % af omsætningen fortsat meget høj, og også i disse år oplevede virksomheden en nedgang i omsætningen og årlige år underskud, d) NG havde en negativ egenkapital i størstedelen af perioden (2006-2011).
The insolvency administrators refer to Commission decision of 30 April 2008 in case C 56/06 Privatisation of Bank Burgenland, to Commission decision of 19 June 2013 in case SA.36197 Privatisation of ANA — Aeroportos de Portugal as well as to the Commission's communication on land sales.
For det andet er Kommissionen af den opfattelse, at den omstændighed, at opførelsen af den nævnte infrastruktur og afholdelsen af motorsportsbegivenheder sagtens kan have bidraget til NG's, MSR's og CMHN's vanskeligheder, ikke i sig selv ændrer på den konklusion, at NG viste de sædvanlige tegn på en kriseramt virksomhed allerede inden påbegyndelsen af »Nürburgring 2009«-projektet.
Complainant 4 mentions that several entities were allegedly contacted by Capricorn in the process to seek help with financing its bid, that Capricorn has misrepresented its financing support to the sellers at an early stage of the process, that the ownership structure of GetSpeed, one-third shareholder of Capricorn consortium, is not entirely clear, that the creditors' committee was not fully-informed about […]'s financing of the Capricorn's bid, and that Capricorn had admitted publically that they do not have the financing for their announced EUR 25 million of investment in the Nürburgring assets.
En sund virksomhed ville skulle tilpasse sine omkostninger til sådanne aktiviteter for at kunne overleve.
Moreover, the creditors' committee had not sufficient time to verify the conditions of the confirmation of […] about the provision of financing to Capricorn.
I 2008 og 2009 havde NG, MSR og CMHN underskud og stigende gældsætning (stigning på henholdsvis 537 % i perioden 2002-2011, 4052 % i perioden 2007-2011 og 443 % i perioden 2008-2011).
Complainant 4 states that [Bidder 2]'s bid contained an upfront payment of EUR 32,5 million in early April 2014, whereas Capricorn's bid contained only the upfront payments of EUR 5 million in March 2014, EUR 5 million in July 2014 and EUR 5 million in December 2014.