natgillin/translations-raw huggingface dataset:
For at støtte MDD's drift besluttede PCC i 2010 og 2011 at købe to mobile havnekraner for ca. 2,1 mio. GBP pr. stk. og at leje dem ud til MMD gennem en driftslejeaftale, der løber i syv år.
The Complainant argues that the loan facility by PCC provided MMD with long-term funding on terms which would not have been available to it from ordinary commercial lenders.
Den månedlige leje på 16000 GBP (over 190000 GBP om året) for hver kran er blevet beregnet således, at PCC's investering bliver tilbagebetalt i løbet af kranernes forventede levetid på 15 år, og således at den samtidig dækker PCC »s egne kapitalomkostninger (dette giver effektive rentesatser på 4,46 % og 4,62 %).
It also claims that the loan agreement between PCC and MMD is not only unsigned but in particular lacks provisions which any commercial lender would routinely require (such as financial covenants or events of default).
Selv om klagen ikke indeholder nogen specifikke argumenter med hensyn til netop denne foranstaltning, hører køb og udlejning af kraner til de mange finansieringsforanstaltninger i klagen, som PCC benytter til at støtte MDD's investeringer i nyt udstyr på en måde, der angiveligt ikke er i overensstemmelse med markedsvilkårene.
Finally, it argues that the financing from PCC enables MMD to invest in new operating infrastructure and assets and thus provides it with a competitive advantage.
Foranstaltning 5: Sikkerhedsstillelse for kassekredit
Therefore, the Complainant argues that the long-term loan facility does not correspond to market economy operator terms and, since all other criteria are also fulfilled, constitutes illegal State aid.
Ved erhvervelsen blev MMD købt inden for rammerne af PCC's bankforbindelse med Lloyds TSB Bank.
Measure 4: Acquisition of two cranes by PCC and their subsequent long-term lease to MMD in 2010 and 2011
Lloyds TSB krævede til gengæld en yderligere kontant sikkerhedsstillelse på 1 mio. GBP.
In order to support the operations of MMD, PCC decided in 2010 and 2011 to purchase two mobile harbour cranes for approximately GBP 2,1 million each and to lease them to MMD under an operating lease agreement valid for 7 years.
I maj 2009 blev denne sikkerhedsstillelse hævet til 1,2 mio. GBP, og i foråret 2010 blev den sat ned til 0,55 mio. GBP.
The monthly rent of GBP 16000 (in excess of GBP 190000 per year) for each crane has been calculated so that the investment made by PCC is repaid over the expected lifetime of the cranes of 15 years while also covering PCC's own cost of capital (in total leading to effective interest rates of 4,46 % and 4,62 %).
I 2011 blev denne sikkerhedsstillelse til Lloyds TSB Bank suppleret med en garanti fra PCC til banken for en månedlig kassekredit på 1 mio. GBP til MMD.
Even though the complaint does not contain any specific arguments with respect to this particular measure, the acquisition and lease of cranes belongs among the various financing measures included in the complaint by which PCC supports MMD's investment in new equipment in a manner allegedly not consistent with market conditions.
Lloyds TSB Bank krævede sikkerhedsstillelsen og efterfølgende også garantien til at dække MDD's normale kommercielle transaktioner og til at fungere som sikkerhed for betalinger, som banken foretager på vegne af MMD (f.eks. CHAPS-betalinger, BACS-betalinger, facilitet til toldgodtgørelse og virksomhedskort).
Measure: 5: Security for overdraft facility
Lloyds TSB Bank kan trække på sikkerhedsstillelsen eller garantien, hvis disse betalinger, som banken foretager, efterfølgende ikke bliver honoreret af MMD.
Upon acquisition, MMD was brought under the umbrella of PCC's banking relationship with Lloyds TSB Bank.
Blandt de foranstaltninger, der udgør fortsat økonomisk støtte fra PCC til MMD, og som angiveligt giver MMD en uretmæssig økonomisk fordel, er sikkerhedsstillelsen for kassekreditten medtaget i klagen.
In return, Lloyds TSB required an additional security cash deposit of GBP 1 million.
Begrundelse for indledning af proceduren
In May 2009, this security deposit was increased to GBP 1,2 million and in spring 2010 decreased to GBP 0,55 million.
I åbningsbeslutningen udtrykte Kommissionen bekymring for, at den fortsatte støtte til MMD ved hjælp af de årlige driftstilskud eventuelt ikke opfylder det markedsøkonomiske investorprincip.
In 2011, this security deposit to Lloyds TSB Bank was supplemented by a guarantee by PCC to the bank for a monthly overdraft facility of GBP 1 million available to MMD.
PCC's tilskud i form af driftstilskud gik langt ud over den tid og det beløb, der var forudset i den oprindelige investeringscase (16,71 mio. GBP over otte år, i modsætning til det oprindeligt planlagte beløb på 1,44 mio. GBP over to år).
The deposit and subsequently also the guarantee were required by Lloyds TSB Bank to cover MMD's normal commercial transactions and to serve as security for payments that the bank makes on behalf of MMD (such as CHAPS payments, BACS payments, customs indemnity facility and Corporate Charge cards).
Der var derfor tvivl om, hvorvidt disse kontante tilskud kan betragtes som kortfristet og midlertidig støtte til omstrukturering af virksomheden.
Lloyds TSB Bank is able to call upon the deposit or guarantee in the event that these payments made by the bank are subsequently not honoured by MMD.
Desuden var det allerede tydeligt det første år 2008/09, at de oprindelige finansielle prognoser ikke ville blive en realitet.
The complaint includes the security for overdraft facility among the measures representing continued financial support by PCC to MMD, which gives MMD an allegedly undue economic advantage.
Selvom der var dokumentation for en grundig økonomisk analyse med henblik på erhvervelsen af MMD, var der derudover kun lidt eller ingen dokumentation for, at hver enkelt tildeling af yderligere driftstilskud var blevet grundigt analyseret for så vidt angår støttens økonomiske begrundelse.
Grounds for initiating the procedure
Argumentet om, at tilskuddene næsten udlignes af MDD's indtægter til PCC, der ville gå tabt, hvis MDD indstillede driften, blev anset for at være forkert, da der ikke forelå noget bevis for, at havneaktiverne (kajer, lagerhaller osv.), som MDD benyttede, fortsat ville være ude af drift, hvis MMD blev likvideret, eller at det ville føre til et fuldstændigt tab af PCC's lejeindtægter og tonnageafgifter.
In the Opening Decision the Commission expressed concerns that the continued support to MMD by means of the annual revenue grants might not be MEIP-compliant.
Endelig var der ikke nogen dokumentation for, at PCC havde opvejet sin fortsatte støtte mod alternative scenarier (som f.eks. at likvidere MMD) for at påvise, at det var faktisk den økonomisk mest fordelagtige mulighed i hele perioden.
The support by PCC in the form of revenue grants went far beyond the time and amount planned in the original investment case (GBP 16,71 million over 8 years as opposed to the originally planned GBP 1,44 million over two years) and therefore there were concerns that these cash grants could be considered as short-term and temporary support for the restructuring of the business.
Foranstaltning 3: Langfristet lånefacilitet fra PCC til MMD fra 2010
In addition, it was already evident in the first year 2008/2009 that the original financial forecasts would not materialise.
På grund af MDD's manglende evne til over en årrække at generere overskud uden PCC's driftstilskud udtrykte Kommissionen i åbningsbeslutningen tvivl om, hvorvidt lånevilkårene svarede til MDD's standardrisici.
Further, while there was evidence of a proper economic analysis for the acquisition of MMD, there was little if any evidence on the file that demonstrated that each grant of additional revenue grant had been properly analysed as regards its economic sense.
Det forekom tvivlsomt, at en privat kreditor, selv i en position som moderselskab, ville have ydet et sådant lån uden på en passende måde at afhjælpe datterselskabets økonomiske problemer.
The argument that the grants are almost balanced with the revenue streams from MMD to PCC that would be lost if it ceased operations was considered to be flawed since there was no evidence suggesting that the port assets (quays, warehouses etc.) used by MMD would remain idle if MMD were liquidated or would lead to a complete loss of the lease rentals and tonnage dues paid to PCC.
Endelig var den kommercielle låneaftale, der blev indsendt af Det Forenede Kongerige, forholdsvis generel, og den manglede nogle standardbestemmelser, der normalt kræves (såsom finansielle bestemmelser eller tilfælde af misligholdelse).
Finally, there was no evidence that PCC had weighted up its continued support with alternative scenarios (such as putting MMD into liquidation) in order to demonstrate that it was in fact the most advantageous option, economically, throughout the whole period.
Ifølge åbningsbeslutningen lader det ikke til, at der i dokumenterne med analysen af erhvervelsen af MDD, som blev fremsendt af Det Forenede Kongerige, bliver taget hensyn til PCC's øgede kontante sikkerhedsstillelse.
In view of MMD's inability to achieve profitability over a number of years without PCC's revenue grants, in the Opening Decision the Commission expressed concerns as to whether the terms of the loan corresponded to the risks of default by MMD.
Selv hvis påstanden om, at der implicit var taget højde for en sådan sikkerhedsstillelse, blev accepteret, var der ingen dokumentation for, at PCC efterfølgende havde analyseret sin løbende eksponering.
It seemed doubtful that a private creditor, even in a position of a parent company, would have granted such a loan without adequately addressing the financial difficulties of its subsidiary.
Trods MMD's løbende tab fortsatte PCC blot med at stille sikkerhed for MMD's lånefaciliteter til driftskapital.
The concerns as regards the market terms of the loan facility were confirmed also by the Commission Reference Rate Communication of 2008, according to which a market rate for a company in difficulty (without the continued support by PCC, MMD would have almost certainly been a company in difficulty) even presuming a high level of collateral (for which there was no evidence) would amount to 5,48 % in 2011 and between 5,46 % and 5,74 % in 2012.
Kommissionen udtrykte derfor i åbningsbeslutningen tvivl om, hvorvidt MDD kunne have opnået sådanne faciliteter uden PCC's støtte, og samtidig synes det usandsynligt, at et privat moderselskab i samme situation ville have fortsat sådanne finansielle tilskud uden i tilstrækkeligt omfang at afhjælpe sit datterselskabs finansielle vanskeligheder.
Without collateral, the rate would have been more than 11 %.
BEMÆRKNINGER FRA INTERESSEREDE PARTER
Finally, the Commercial Loan Agreement submitted by the United Kingdom was relatively general and lacked some standard provisions normally required (such as financial covenants or event of default).
Bemærkninger fra klageren
Since the measure is in its effects very similar to a long-term loan facility analysed above (financing of capital expenditure of MMD based on the costs of borrowing of PCC), the concerns expressed in the Opening Decision were analogous to those related to the long-term loan facility.
Klageren støttede i sine bemærkninger åbningsbeslutningen og forbeholder sig samtidig sin holdning med hensyn til konklusionen om foranstaltning 1 uden at fremlægge yderligere argumenter eller dokumentation vedrørende denne foranstaltning.
According to the Opening Decision, the documents analysing the acquisition of MMD provided by the United Kingdom did not appear to take account of the increased cash deposit by PCC.
For så vidt angår foranstaltning 2 til 5 henviste klageren imidlertid til sine tidligere bemærkninger og gentog sin overbevisning om, at der ikke er nogen grund til, at PCC med rimelighed kunne have konkluderet, at dens økonomiske støtte nogensinde ville give et tilstrækkeligt afkast, uden at fremlægge yderligere dokumentation eller argumenter i sine bemærkninger.
However, even if the argument that such deposit was implicitly envisaged were to be accepted, there was no evidence demonstrating that PCC had analysed its continued exposure subsequently.
Klageren tilskyndede derfor Kommissionen til at konkludere, at foranstaltning 2 til 5 udgør uforenelig statsstøtte, der skal tilbagesøges.
Despite the continued losses of MMD, PCC simply continued to provide the security for MMD's working capital loan facilities.
Bemærkninger fra en anonym interesseret part
The Commission thus in the Opening Decision expressed concerns that such facilities could be acquired by MMD without PCC's support and at the same time it appeared unlikely that a private parent company in the same situation would have continued such financial support without adequately addressing the financial difficulties of its subsidiary.
Den anonyme interesserede part støttede den foreløbige analyse i åbningsbeslutningen og mente, at foranstaltning 2 til 5 klart udgør statsstøtte til MMD, hvor PCC ydede løbende økonomisk støtte til en kronisk ineffektiv og urentabel virksomhed.
COMMENTS FROM INTERESTED PARTIES
Uden den løbende støtte hævdede denne part, at MMD lang tid før ville være blevet insolvent og have indstillet sin virksomhed.
Comments from the Complainant
Den anonyme interesserede part fremlagde ingen bemærkninger til foranstaltning 1.
The Complainant in its comments supported the Opening Decision while reserving its position as regards the conclusion concerning Measure 1 without providing any additional arguments or evidence with respect to this measure.
Den anonyme interesserede part mente ikke, at PCC handlede som en fornuftig investor, eftersom selskabet fortsat ydede MDD støtte uden at sikre nogen meningsfuld eller vellykket omstrukturering af MMD for at afhjælpe virksomhedens problemer.
With respect to Measures 2 to 5 the Complainant referred to its previous submissions and reiterated its belief that there are no grounds on which PCC could have reasonably concluded that its financial support would ever deliver an adequate commercial return, without providing any additional evidence or arguments in its comments.
Parten hævdede, at ingen fornuftig investor ville have købt en nødlidende virksomhed og være fortsat med at finansiere dens fejl igennem mange år uden at gennemføre nogen reformer for at afhjælpe disse fejl.
The Complainant thus urged the Commission to conclude that Measures 2 to 5 constitute an incompatible State aid that needs to be recovered.
Hvad angår driftstilskuddene (foranstaltning 2) tilsluttede den anonyme interesserede part sig åbningsbeslutningen og understregede, at PCC blot afhjalp MMD's driftstab hvert år uden nogen ordentlig vurdering.
Comments from an Anonymous Interested Party
For så vidt angår foranstaltning 3 og 4 tilsluttede den anonyme interesserede part sig også åbningsbeslutningen og hævdede, at der uden PCC's støtte ikke havde været nogen finansiering til rådighed for MMD på tilsvarende vilkår.
The Anonymous Interested Party supported the preliminary analysis in the Opening Decision and considered that Measures 2 to 5 clearly constituted State aid to MMD by which PCC provided ongoing financial support to a chronically inefficient and unprofitable business.
Endelig tilsluttede parten sig også, at foranstaltning 5 udgør en uberettiget fordel for MMD, som ikke havde været tilgængelig fra en rationel økonomisk aktør.
Without the on-going support, it alleged that MMD would have long become insolvent and gone out of business.
Den anonyme interesserede part bekræfter derefter den foreløbige vurdering i åbningsbeslutningen om, at disse støtteforanstaltninger end ikke opfylder de grundlæggende betingelser for forenelig redningsstøtte eller omstruktureringsstøtte.
The Anonymous Interested Party did not provide any comments on Measure 1.
Den anonyme interesserede part understreger endvidere, at disse tilskud har haft en betydelig indvirkning på konkurrencen, da sektoren for håndtering af friske produkter er et meget konkurrencepræget marked med lave marginer, hvor lovlige aktører uden støtte er særligt sårbare over for en operatør, der støttes af ulovlig statsstøtte.
The Anonymous Interested Party considered that PCC was not acting as a rational commercial investor since it continued providing funding to MMD without securing any meaningful or successful restructuring of MMD to address its problems.
Parten hævder også, at MMD var kendt for at tilbyde håndteringspriser under markedsværdien (ved angiveligt at tilbyde gratis oplagring) for at tiltrække og fastholde kunder.
It claimed that no rational investor would have purchased a failing business and continued to fund its failure over many years without achieving any reforms to address those failures.
Støtten er altså ikke kun til skade for specifikke konkurrenter, men også for de samlede operationer på markedet.
With respect to the revenue grants (Measure 2) the Anonymous Interested Party concurred with the Opening Decision and stressed that PCC simply made good MMD's operating losses each year without any proper assessment.
Den anonyme interesserede part har derfor anmodet Kommissionen om at kræve tilbagebetaling af ulovlig og uforenelig støtte ydet til MMD.
As regards Measures 3 and 4, the Anonymous Interested Party again concurred with the Opening Decision and claimed that without the support of PCC no financing on comparable conditions would have been available to MMD.
BEMÆRKNINGER FRA DET FORENEDE KONGERIGE
Finally, it concurred that Measure 5 also constituted an undue benefit to MMD that would have not been available from a rational economic investor.
Det Forenede Kongeriges bemærkninger til åbningsbeslutningen
The Anonymous Interested Party thereafter confirms the preliminary assessment in the Opening Decision that these aid measures do not meet even the basic conditions for a compatible rescue or restructuring aid.
Det Forenede Kongerige anfægtede i sine bemærkninger til åbningsbeslutningen Kommissionens foreløbige konklusioner om, at foranstaltning 2 til 5 kan udgøre statsstøtte og fremlagde yderligere argumenter til støtte for sin påstand om, at alle foranstaltningerne opfylder det markedsøkonomiske investorprincip.
The Anonymous Interested Party further stresses that these subsidies had a significant impact on competition since the fresh produce handling sector is a highly competitive market with low margins where legitimate un-aided operators are particularly vulnerable to an operator supported by illegal State aid.
Det fremlagde også en lang række yderligere forudgående dokumentation til støtte for sin påstand.
It also claims that MMD was reputed to have been offering below-market handling rates (including allegedly offering free storage) to attract and retain customers.
Det Forenede Kongerige fremførte især, at PCC's beslutning om at støtte MMD i årene efter 2008, enten med driftstilskud eller på anden vis, var forretningsmæssigt begrundet og baseret på en fornuftig vurdering af de potentielle fordele og risici.
The aid thus did not only harm specific competitors but also the overall operations of the market.
Dette omfattede at tage højde for de mange indbyrdes forbundne stordriftsfordele og synergieffekter ved at videreføre forretningsmæssig drift på en helejet lokalitet, og hvis aktiviteter er begrænset ved lov og politik til havnerelaterede aktiviteter.
The Anonymous Interested Party thus requested the Commission to require recovery of the illegal and incompatible aid provided to MMD.
Det Forenede Kongerige gør gældende, at den økonomiske fornuft i den fortsatte støtte til MMD løbende blev sammenholdt med alle rimelige alternativer inden for dette begrænsede område.
COMMENTS FROM THE UNITED KINGDOM
Som det fremgår af de interne dokumenter, der er vedhæftet Det Forenede Kongeriges indsendelse, overvejede PCC regelmæssigt, om de faktorer, der lå til grund for erhvervelsen af virksomheden i 2008, fortsat kunne begrunde yderligere støtte.
United Kingdom comments on the Opening Decision
Desuden handlede PSS som enhver anden aktør i en markedsøkonomi med interesser i en helejet lokalitet med begrænsede muligheder for alternative anvendelser og med et væld af relaterede økonomier i forsyningskæden med henblik på at fremme sin lokalitets værdi og fremme vedvarende afkast til sig selv.
The United Kingdom in their comments on the Opening Decision contested the Commission's preliminary findings that Measures 2 to 5 could constitute State aid and provided additional arguments in support of its claim that all the measures were MEIP-compliant.
MDD's økonomiske resultater er imidlertid blevet væsentligt bedre — omend i et langsommere tempo end oprindeligt planlagt — via tilgang af nye kunder og gennem et aktivt omstruktureringsprogram (beskrevet i forretningsplanen fra 2008 om opkøb af MMD og ajourført som led i MMD's fremadrettede forretningsplaner), som har reduceret omkostningerne og strømlinet virksomheden, hvilket har gjort den mere konkurrencedygtig.
This included consideration of the numerous inter-related economies and synergies of maintaining a commercial operation on a wholly-owned site whose activities are limited by law and policy to port-related activity.
Det Forenede Kongerige understreger også, at PCC ejer og driver en travl færgehavn ved siden af MMD's lokalitet.
The United Kingdom argues that the economic rationality of the continued support to MMD was continuously tested against all reasonable alternatives on this restricted site.
PCC kan udnytte, og gør det også, synergieffekterne mellem de to virksomheder til gavn for færgehavnen.
The United Kingdom argued that PCC has exercised close financial scrutiny of its investment in the business and thus that the Commission's claim that PCC ‘blindly’ followed the unduly optimistic forecasts of MMD management is incorrect.
PCC er f.eks. i stand til at tilbyde kommercielle færgerederier MMD's skibsstevedoring til håndtering af kommercielt gods.
PCC appointed its most senior financial officer as a Director of MMD in order to oversee the business financial performance, to provide ‘the appropriate financial acumen’ and to ensure that PCC's statutory financial management duties are properly discharged.
Dette har bidraget til fremkomsten af nye erhvervsaktiviteter i færgehavnen.
As demonstrated by the internal documents attached to the United Kingdom submission, PCC members regularly considered whether the factors which motivated the acquisition of the business in 2008 continued to provide the justification for further support.
Desuden modtager PCC indtægter fra MMD i form af lejeafkast, tonnageafgifter, lodsafgifter og andre indtægter.
Moreover, as any other market economy operator with embedded interests in a wholly owned site with limited scope for alternative uses, and a host of related supply chain economies, PCC acted to promote the value of its land, and to promote sustainable returns to itself.
Selv om dette ikke i sig selv nødvendigvis retfærdiggør fortsat støtte til erhvervsaktiviteterne på længere sigt, gør Det Forenede Kongerige gældende, at det er hensigtsmæssigt for PCC at tage hensyn til disse indtægtsstrømme i vurderingen af det overordnede forretningsmæssige rationale for at fortsætte sin støtte.
Similar to all port related businesses, MMD's main business of fruit handling is ‘lumpy’ and in the short term is vulnerable to individual customer losses/gains.
Det Forenede Kongerige understreger også, at man ved flere lejligheder overvejede mulige alternativer til den fortsatte drift af MMD med støtte fra PCC og sammenlignede dem med status quo med hensyn til de økonomiske fordele.
In the first few years following 2008, the business was hit by unforeseeable problems.
For det første overvejede PCC siden 2008 at diversificere MMD's forretningsaktiviteter til alternative godstyper.
However, MMD's financial performance has significantly improved — albeit more slowly than originally envisaged — by some new customer gains and through an active restructuring programme (set out in the 2008 business case for the purchase of MMD and updated as part of the MMD's forward looking business plans) which has cut costs and streamlined the business making it more competitive.