natgillin/translations-raw huggingface dataset:
By letter of 12 August 2003, registered as received by the European Commission on 20 August 2003 (TREN/A(03)27718), the Belgian authorities notified, under Article 88(3) of the Treaty, the rescue and restructuring measures introduced by Société Nationale des Chemins de Fer Belges (SNCB) for its subsidiary Inter Ferry Boats (IFB) in the form of a framework agreement concluded on 7 April 2003.
augusti 2003. aasta kirjaga, mis registreeriti Euroopa Komisjonis 20. augustil 2003 (TREN/A(03)27718) teatasid Belgia ametiasutused asutamislepingu artikli 88 lõike 3 kohaselt päästmis- ja ümberkorraldusabist, mille Société Nationale des Chemins de Fer Belges (edaspidi „SNCB”) andis 7. aprillil 2003. aastal sõlmitud raamlepingu alusel oma tütarettevõtjale Inter Ferry Boats (edaspidi „IFB”).
On 13 October 2003 (D (03)17546), the Commission asked the Belgian authorities to provide further information.
oktoobril 2003 (D(03)17546) palus komisjon Belgia ametiasutustel esitada täiendavaid andmeid.
Consequently, the case was registered as NN 9/04.
Seepärast registreeriti juhtum numbri all NN 9/04.
By letter of 26 January 2005 (D(05)100339), the Commission asked the Belgian authorities to provide further information. This was sent by letter of 25 March 2005, registered as received by the Commission on 30 March 2005 (TREN/A(05)7712).
jaanuari 2005. aasta kirjaga (D(05)100339) palus komisjon Belgia ametiasutustel esitada täiendavaid andmeid ning need esitati 25. märtsi 2005. aasta kirjaga, mis registreeriti komisjonis 30. märtsil 2005 (TREN/A(05)7712).
By letter of 29 March 2005 (D(05)106199), the Commission asked the Belgian authorities to provide further information. This was sent by letter of 28 April 2005, registered as received by the Commission on 3 May 2005 (SG(2005)A(05)4155).
märtsi 2005. aasta kirjaga (D(05)106199) palus komisjon Belgia ametiasutustel esitada täiendavaid andmeid ning need esitati 28. aprilli 2005. aasta kirjaga, mis registreeriti komisjonis 3. mail 2005 (SG(2005)A(05)4155).
By letter of 31 May 2005 (D(05)111096), the Commission asked the Belgian authorities to provide further information. This was sent by letter of 30 June 2005, registered as received by the Commission on 1 July 2005 (TREN/A(05)16598).
mai 2005. aasta kirjaga (D(05)111096) palus komisjon Belgia ametiasutustel esitada täiendavaid andmeid ning need esitati 30. juuni 2005. aasta kirjaga, mis registreeriti komisjonis 1. juulil 2005 (TREN/A(05)16598).
Case C 46/05
Juhtum C 46/05
By letter of 7 December 2005, the Commission informed Belgium of its decision to initiate the procedure provided for in Article 88(2) of the Treaty in respect of the measures in question.
detsembri 2005. a kirjaga teavitas komisjon Belgiat oma otsusest algatada asjaomaste abimeetmete suhtes asutamislepingu artikli 88 lõikes 2 sätestatud menetlus.
The Commission’s decision to initiate the procedure was published in the Official Journal of the European Union [1].
Komisjoni otsus menetluse algatamise kohta avaldati Euroopa Liidu Teatajas [1].
Belgium replied to the letter informing it that the procedure had been initiated by letter of 14 February 2006, registered as received by the Commission on 15 February 2006 as TREN/A/13934.
Belgia vastas menetluse algatamise kirjale 14. veebruari 2006. aasta kirjaga, mis registreeriti komisjonis 15. veebruaril 2006 numbri all TREN/A/13934.
It withdrew its notification of 28 January 2005 in the same letter.
Sama 14. veebruari 2006. aasta kirjaga võttis Belgia tagasi oma 28. jaanuari 2005. aasta teatise.
The meetings between the Commission and the Belgian authorities took place on 1 June 2006 and 25 July 2006.
juunil ja 25. juulil 2006 toimusid komisjoni talituste ja Belgia ametiasutuste vahelised töökohtumised.
The Belgian authorities provided additional information to the Commission by letter of 29 June 2006, registered as received by the Commission the same day as TREN/A/25806, by letter of 20 September 2006, registered the same day as TREN/A/32665, and by emails sent on 16 and 21 November 2006, registered as TREN/A/37638 and TREN/A/37981.
Belgia ametiasutused edastasid komisjonile täiendavat teavet 29. juuni 2006. aasta kirjaga, mis registreeriti komisjonis samal päeval numbriga TREN/A/25806, 20. septembri 2006. aasta kirjaga, mis registreeriti samal päeval numbri all TREN/A/32665 ning 16. ja 21. novembri 2006. aasta e-kirjadega, mis registreeriti numbrite all TREN/A/37638 ja TREN/A/37981.
By letter of 30 November 2006, received by the Commission on 5 December 2006 and registered as TREN/A/39219, the Belgian authorities forwarded a letter from Mr Karel Vinck which concerned the current file.
novembri 2006. aasta kirjaga, mis saabus komisjoni 5. detsembril 2006 ning registreeriti numbri all TREN/A/39219, edastasid Belgia ametiasutused käesoleva juhtumi kohta kirja Karel Vinck’ilt.
The Belgian authorities sent this letter in support of their argument that SNCB’s decisions in this matter were not attributable to Belgium, but solely to SNCB.
Kirja saatsid Belgia ametiasutused eesmärgiga kinnitada oma väidet, et käesoleva juhtumi raames vaadeldavaid SNCB otsused ei ole seostavad Belgia riigiga, vaid üksnes SNCBga.
DETAILED DESCRIPTION OF THE RESCUE AND RESTRUCTURING MEASURES
PÄÄSTMIS- JA ÜMBERKORRALDUSABI ÜKSIKASJALIK KIRJELDUS
The parties to the framework agreement on the rescue and restructuring of IFB
IFB päästmist ja ümberkorraldamist käsitleva raamlepingu pooled
Description of the company
Äriühingu kirjeldus
IFB is a limited liability company incorporated under Belgian law.
IFB on Belgia õigussüsteemi kuuluv aktisaselts.
SNCB holds 89,03 % of the share capital.
89,03 % selle äriühingu aktsiakapitalist kuulub SNCB-le.
The other shareholders are CNC Transports, a 93,8 % subsidiary of SNCF (7,41 %), ICF (2,08 %), and EWS (English Welsh and Scottish Railway — 1,22 %).
Teised aktsionärid on CNC Transports, mille kapitalist kuulub 93,8 % SNCFile (7,41 %), ICF (2,08 %) ja EWS (English Welsh and Scottish Railway – 1,22 %).
IFB was set up on 1 April 1998 by the merger of the following three companies: Ferry Boats SA, Interferry SA and the ‘rail’ division of Edmond Depaire Ltd. As shown by Belgium by means of an extract from the register of companies, this merger was a takeover, during the course of which Ferry Boats SA took over Interferry SA; the rail division of Edmond Depaire was subsequently incorporated in the merged entity.
IFB asutati 1. aprillil 1998 järgmise kolme äriühingu ühinemisel: Ferry Boats SA, Interferry SA ja Edmond Depaire Ltd. „raudtee” osakond. Belgia esitatud äriregistri väljavõtte kohaselt oli tegemist omandamise läbi toimunud ühinemisega, kus Ferry Boats SA omandas Inferry SA, misjärel ühendati juba ühinenud ühinguga Edmond Depaire SA.
IFB has therefore taken over the legal personality of Ferry Boats, which was set up in 1923.
IFB kannab seega 1923. aastal asutatud Ferry Boats’i õigussubjektsust.
IFB mainly pursues two types of activity, logistics for rail transport and combined transport (IFB Logistics) and the operation of continental combined transport terminals (IFB Terminals).
IFB on tegev eelkõige kahes valdkonnas: raudtee- ja kombineeritud vedude logistika (IFB Logistics) ning kombineeritud vedude maismaaterminalide käitamine (IFB Terminals).
The firm’s activities have been described in detail in points 16 to 29 of the letter initiating the formal investigation.
Ettevõtja tegevust on üksikasjalikult kirjeldatud ametliku uurimismenetluse algatamise kirja punktides 16–29.
To these activities must be added the holdings and subsidiaries which IFB has or had in Belgium and abroad in companies operating maritime and continental terminals and in transport companies.
Nimetatud tegevusvaldkondadele tuleb lisada osalused ja tütarettevõtted, mis on või olid IFB-l mere- ja maismaaterminale käitavates ning vedudega tegelevates Belgia ja välismaa äriühingutes.
The factual changes which have occurred since the letter initiating the investigation was sent are described in the subsequent points.
Pärast menetluse algatamist muutunud faktilisi asjaolusid on kirjeldatud järgmistes punktides.
For all other matters, see the decision initiating the investigation procedure (points 30 to 49).
Muus osas viidatakse menetluse algatamise otsusele (punktid 30–49).
IFB’s holdings in the terminals in Belgium.
IFB osalused Belgia terminalides.
IFB withdrew from the terminal in Zeebrugge.
IFB on loobunud osalusest Zeebrugge terminalis.
Point 39 of the letter initiating the investigation procedure states that it has sold its shares in the investment group OCHZ.
Menetluse algatamise kirja punktis 39 märgitakse, et IFB müüs oma osaluse äriühingule OCHZ.
In reality, IFB has sold its shares to Hesse-Noord Natie, with which it jointly operates the terminal.
Tegelikult müüs IFB oma osaluse Hesse-Noord Natie’le, kellega koos ta seda terminali käitas.
Point 41 of the letter initiating the investigation procedure states that IFB owns a 16,76 % share of the company Dry Port Mouscron-Lille.
Menetluse algatamise kirja punktis 41 märgitakse, et IFB-l on 16,76 % osalus äriühingus Dry Port Mouscron-Lille.
Belgium has informed the Commission that, following an increase in the company’s additional capital on 29 June 2006, in which IFB did not participate, and the entry of a private investor, DELCATRANS, in the company’s capital, its holding has been reduced to 11,07 %
Belgia teatas komisjonile, et pärast 29. juunil 2006 toimunud äriühingu omakapitali suurendamist, milles IFB ei osalenud, ning pärast uue erainvestori – DELCATRANS – kapitaliosalusse lisandumist vähenes IFB osalus 11,07 %-le.
IFB’s holdings in the terminals in France.
IFB osalused Prantsusmaa terminalides.
IFB sold its 30 % shareholding in the company Nord France Terminal International OU (hereinafter NFTI-ou) to CMA-CGM in autumn 2006.
aasta sügisel müüs IFB oma 30 % osaluse äriühingus Nord France Terminal International OU (edaspidi „NFTI-ou”) CMA-CGM-le.
Following this transaction, IFB has a shareholding of only 2 % in CNC Transports, since renamed Naviland Cargo.
Selle tehingu järel on IFB-l Prantsusmaal ainult üks 2 % suurune osalus äriühingus CNC Transports, mis on vahepeal ümber nimetatud Naviland Cargoks.
Markets concerned and IFB’s market shares
Asjaomased turud ja IFB turuosad
As regards the terminals market, the decision initiating the procedure (points 55 to 59) distinguishes between the continental terminals and the maritime terminals.
Mis puutub terminalide turgu, siis eristati menetluse algatamise otsuses (punktid 55–59) maismaa- ja mereterminale.
In the meantime IFB has disposed of all its shareholdings in the maritime terminals.
Vahepeal on IFB loovutanud kogu oma osaluse mereterminalides.
Neither the interested parties nor Belgium have contested the definition contained in the decision initiating the procedure.
Huvitatud isikud ega Belgia ei ole menetluse algatamise otsuses sisalduvale määratlusele vastu vaielnud.
The rail freight market is an ancillary market of these two markets.
Raudteekaubavedude turg on nimetatud kahe turuga seotud turg.
Since 2003, it has been open for the transportation of international freight to and from Belgium, as provided for in Council Directive 91/440/EEC of 29 July 1991 on the development of the Community’s railways [2].
Alates 2003. aastast on see turg Belgiasse suunduvatele ja Belgiast lähtuvatele rahvusvahelistele kaubavedudele avatud vastavalt nõukogu 29. juuli 1991. aasta direktiivile 91/440/EMÜ ühenduse raudteede arendamise kohta [2].
This opening-up of international freight was supplemented by the opening-up of the national freight market on 1 January 2007, as provided for in Directive 91/440/EEC and implemented in Belgium by Royal Decree of 13 December 2005.
Rahvusvaheliste kaubavedude avamist täiendas Belgia kaubavedude siseturu avamine 1. jaanuaril 2007, mis on sätestatud direktiivis 91/440/EÜ ning mis toimus Belgias 13. detsembri 2005. aasta dekreedi alusel.
SNCB was set up by the Belgian Act of 23 July 1926 establishing the Société Nationale des Chemins de Fer Belges [3].
SNCB asutati Belgia 23. juuli 1926. aasta seaduse alusel Belgia riikliku raudteeühingu loomise kohta [3].
Since 14 October 1992 [4], it has been an autonomous public undertaking and a public limited company [5].
Alates 14. oktoobrist 1992 [4] on tegemist riigi osalusega iseseisva äriühinguga ning avalik-õigusliku aktsiaseltsiga [5].
SNCB Holding, a holding company which owns 100 % of the shareholding in the other two companies, these being:
SNCB Holding – valdusettevõte, millele kuuluvad 100 % osalused mõlemas ülejäänud äriühingus, milleks on:
Infrabel, the railway infrastructure operator, and
Infrabel, mis tegeleb raudteeinfrastruktuuri haldamisega ning
the new SNCB, the railway company in charge of transport services.
uus SNCB, mis on veoteenust osutav raudteeettevõte.
The Belgian State owns 100 % of the share capital in SNCB Holding.
Belgia riigile kuulub 100 % osalus SCNB Holdingus.
The management bodies of SNCB are the Management Board, the Executive Committee and the Chief Executive.
SNCB juhtorganid on haldusnõukogu, juhatus ja tegevjuht.
The Belgian Government is represented on the Management Board by a Government Commissioner.
Belgia valitsust esindab haldusnõukogus valitsuse asjur.
The Government Commissioner can call upon the Belgian authorities in order to revoke a decision of the Management Board relating to any matter not connected to the fulfilment of public service assignments if that decision ‘is prejudicial to […] the implementation of public service duties’ (Article 23, paragraph 2, of the Act).
Valitsuse asjur võib pöörduda Belgia ametiasutuste poole avalike ülesannete täitmisega mittehaakuva haldusnõukogu otsuse tühistamiseks, kui see otsus „kahjustab […] avalike ülesannete täitmist” (seaduse artikli 23 teine lõik).
The financial difficulties encountered by IFB in 2001 and 2002
IFB finantsraskused aastatel 2001 ja 2002
It is necessary first of all to analyse the reasons which caused these financial difficulties, and then to describe the reactions of the IFB’s and SNCB’s directors.
Esmalt tuleb analüüsida finantsraskuste algseid põhjusi ja seejärel kirjeldada IFB ja SNCB juhtkondade reaktsioone.
The financial difficulties
Finantsraskused
The principal reason for IFB’s difficulties reside in the financial difficulties encountered by its holdings in France, all situated in the port of Dunkerque, in 2001 and 2002.
Peamised IFB finantsraskused tulenevad IFB osalusega Prantsusmaa ettevõtjate, mis kõik asusid Dunkerque’i sadamas, finantsraskustest 2001. ja 2002. aastal.
The financial difficulties also concerned the activities of ‘IFB Logistics’ and ‘IFB Terminals’, which suffered losses in 2002.
Finantsraskustest olid mõjutatud ka IFB Logistics ja IFB Terminals, mis jäid 2002. aastal kahjumisse.
The balance of the losses in 2002, EUR 96,6 million, stemmed from reductions in value and provisions within the context of the necessary adjustment of the accounts following the problems which the company had encountered in France and Belgium.
aasta kahjumisumma 96,6 miljonit eurot tulenes väärtuse vähendamistest ja eraldistest seoses raamatupidamisaruannete korrigeerimisega, mis oli vajalik ettevõtjal Prantsusmaal ja Belgias tekkinud probleemide tõttu.
Diagram 1
Skeem 1
Breakdown of losses in 2002
kahjumi jagunemine
(EUR million)
(tuhandetes EUR)
The response from IFB and SNCB management
IFB ja SNCB juhtkondade reaktsioon
Since the end of 2000, IFB has no longer paid the invoices sent to it by SNCB for the provision of its train services.
Alates 2000. aasta lõpust ei tasunud IFB arveid, mida SNCB talle raudteeteenuste eest esitas.
On 21 May 2002, IFB’s Management Board found that, following the losses sustained since the end of 2000, capital funds had fallen to less than half of the share capital.
mail 2002 tõdes IFB haldusnõukogu, et alates 2000. aasta lõpust kantud kahjumi tõttu on omavahendid vähenenud niivõrd, et moodustavad vähem kui pool aktsiakapitalist.
As provided for in Article 633 of the Belgian Companies Code, IFB convened an extraordinary general meeting of IFB shareholders.
Vastavalt Belgia äriseadustiku artiklile 633 kutsus IFB kokku IFB aktsionäride erakorralise üldkoosoleku.
The SNCB’s Management Board, at its meeting on 19 July 2002, summarised the situation of its subsidiary IFB.
SNCB haldusnõukogu käsitles IFB olukorda 19. juuli 2002. aasta koosolekul.
IFB’s Chief Executive described the group’s situation; the Management Board then took the following decision: ‘The Board agrees to a contribution of EUR 2,5 million which is required to ensure cash flow requirements and to guarantee the continuity of IFB until the end of October 2002 (this amount constitutes an advance on a likely increase in capital).’
IFB tegevjuht tutvustas kontserni olukorda ning seejärel võttis haldusnõukogu vastu järgmise otsuse: „Haldusnõukogu nõustub 2,5 miljoni euro suuruse rahalise sissemaksega, et tagada IFB-le vajalikud rahalised vahendid ja IFB tegevuse jätkumine kuni 2002. aasta oktoobrini (summat käsitatakse ettemaksena kapitali tõenäolise suurendamise puhuks).”
During the second half of 2002, following approval by the Management Board, the cash advance of EUR 2500000 was transferred by SNCB to IFB, according to the following timetable:
aasta teise poolaasta jooksul tegi SNCB pärast haldusnõukogult heakskiidu saamist IFB-le kokku 250000 euro eest ettemakseid järgmiselt:
transfer of EUR 1000000,
6.8.2002: väljamakse summas 1000000 eurot;
transfer of EUR 500000.
30.9.2002: väljamakse summas 500000 eurot.
This advance bore interest at a rate of 3,1 %; it was fully repaid in July 2003.
Nimetatud ettemakse intressimäär oli 3,1 % ning see maksti täielikult tagasi 2003. aasta juulis.
Repayment was in two stages:
Tagasimaksmine toimus kahes järgus:
on 15 July 2003, IFB repaid EUR 1500000 of this sum, plus interest of EUR 40422,04;
juulil 2003 tagastas IFB ettemaksest 1500000 eurot, millele lisandusid intressid summas 40422,04 eurot;
on 23 July 2003, the balance of EUR 1000000, plus interest of EUR 26883,35, was repaid by IFB to SNCB.
juulil 2003 tasus LFB SNCB-le ülejäänud 1000000 eurot, millele lisandusid intressid summas 26833,35 eurot.
On 19 September 2002, IFB’s Chief Executive instructed two auditors to compile a special report in order to evaluate the financial state of the company.
septembril 2002 palus IFB tegevjuht kahel audiitoril koostada eriaruanne, et hinnata ettevõtte finantsolukorda.
In light of the conclusions of this report, submitted to IFB on 4 December 2002 and subsequently to SNCB, on 20 December 2002 SNCB’s Management Board gave its consent in principle to underwrite an increase in IFB’s capital.
Lähtudes aruande järeldustest, mis esitati 4. detsembril 2002 IFB-le ja seejärel SNCB-le, andis SNCB haldusnõukogu 20. detsembril 2002 põhimõttelise nõusoleku IFB kapitali suurendamiseks.
On 24 December 2002, the Extraordinary General Meeting of Shareholders (‘EGM’) of IFB likewise accepted this proposal.
detsembril 2002 andis ettepanekule nõusoleku ka IFB aktsionäride erakorraline üldkoosolek.
IFB’s senior management, with the aid of consultants McKinsey, drew up a restructuring plan for IFB.
IFB juhatus töötas välja IFB ümberkorralduskava, kasutades selleks nõustaja McKinsey abi.
This plan, which is described in detail in points 73 to 86 of this decision, was approved by IFB’s Management Board on 23 March 2003.
Ümberkorralduskava, mida kirjeldatakse üksikasjalikult käesoleva otsuse punktides 73–86, kiitis IFB haldusnõukogu heaks 23. märtsil 2003.
The management of the two companies (IFB and SNCB) subsequently finalised the details for the rescue and restructuring of IFB in a ‘framework agreement on the restructuring of IFB’, which was signed by the two companies on 7 April 2003.
Seejärel sõlmisid kahe äriühingu (IFB ja SNCB) juhtkonnad äriühingute vahel 7. aprillil 2003 IFB ümberkorraldamise raamlepingu, milles määrati kindlaks IFB päästmise ja ümberkorraldamise üksikasjad.
At a second EGM, IFB shareholders agreed to continuing IFB’s activities on the basis of this framework agreement.
IFB aktsionäride teisel erakorralisel üldkoosolekul andsid IFB aktsionärid nõusoleku IFB tegevuse jätkamiseks raamlepingu alusel.
The rescue and restructuring measures in the ‘framework agreement on the restructuring of IFB’ of 7 April 2003
SNCB ja IFB vahel 7. aprillil 2003 sõlmitud IFB ümberkorraldamise raamlepingus sisalduvad päästmis- ja ümberkorraldusmeetmed
Article 2 of the framework agreement stipulates that implementation of the measures agreed between the parties will be in two phases, namely a rescue period and a period of restructuring.
Raamlepingu artiklis 2 on sätestatud, et poolte vahel kokku lepitud abimeetmed viiakse ellu kahes etapis – päästmisetapis ja ümberkorraldusetapis.
Terms and conditions governing the rescue measures
Päästmisabi eraldamise tingimused ja kord
Article 3 of the framework agreement provides for the following rescue measures:
Raamlepingu artiklis 3 on sätestatud järgmine päästmisabi:
the granting of a recoverable advance of EUR 5 million,
5 miljoni euro suurune tagastatav ettemakse;
the granting of a credit facility up to a maximum of EUR 15 million, and
kuni 15 miljoni euro suurune krediit ja
the granting of a provisional extension for the payment of IFB’s debts of EUR 63 million in relation to SNCB.
IFB 63 miljoni euro suuruse võla SNCB-le tagasimaksmise ajutine pikendamine
The duration of these measures was limited to 12 months; however, they were tacitly extended by mutual agreement by the parties until the date of the increase in capital.
Abimeetmete kestuseks määrati 12 kuud, ent siiski pikendati meetmeid vaikimisi mõlemapoolsel kokkuleppel kuni omakapitali suurendamiseni.
The interest rate on the recoverable advance and the sums deducted against the credit facility is equivalent to the reference interest rate applied by the Commission for State aid.
Tagastatava ettemakse ja krediidisummade intressimäär oli võrdne komisjoni poolt riigiabi suhtes kohaldatava intressi viitemääraga.
The interest is capitalised, and payment is made at the same time as the payment of the debts due.
Intressid otsustati arvata ümber kapitaliks ning maksta välja ettemakse põhisummaga samal ajal.
The debts of EUR 63 million are subject to conventional late payment interest of 5,4 %.
63 miljoni eurot suuruselt võlalt otsustati arvestada 5,4 % lepingulist viivist.
The interest is capitalised and paid at the same time as the payment of the principal debt.
Intressid otsustati arvata ümber kapitaliks ning maksta välja samal ajal põhivõlaga.
The interest owed to SNCB by IFB for the debts and the credit facility was EUR 2,2 million in 2002, EUR 3,9 million in 2003, EUR 4,7 million in 2004, and EUR 5,2 million in 2005, and will be EUR 4,4 million in 2006.
aastal oli võlgadest ja krediidist tulenev IFB intressivõlg SNCB ees 2,2 miljonit eurot, 2003. aastal 3,9 miljonit eurot, 2004. aastal 4,7 miljonit eurot, 2005. aastal 5,2 miljonit eurot ning 2006. aastal suureneb võlg eeldatavasti 4,4 miljonile eurole.
Article 7 of the agreement provides that IFB relinquishes the time-barring of its debts to SNCB.
Lepingu artiklis 7 on sätestatud, et IFB loobub SNCB vastu oma võlgade aegumisele tuginemisest.
Terms and conditions governing the restructuring measures
Ümberkorraldusabi eraldamise tingimused ja kord
Article 4 of the framework agreement, ‘Terms governing the package of measures “restructuring measures”’, is worded as follows:
Raamlepingu artiklis 4, mis kannab pealkirja „Ümberkorraldusabi eraldamise kord,” on sätestatud järgmiselt:
‘The Parties confirm their intention to implement the following measures insofar as they conform to a restructuring plan approved by their two Boards of Directors, by the Belgian State and if necessary by the EC, and subject to the approval of IFB’s shareholders:
„Pooled kinnitavad oma kavatsust võtta alljärgnevad meetmed, niivõrd kui need on kooskõlas poolte haldusnõukogude, Belgia riigi ja vajaduse korral Euroopa Komisjoni heaks kiidetud ümberkorralduskavaga ning tingimusel, et IFB aktsionärid need heaks kiidavad:
The conversion into capital of a recoverable advance of EUR 5 million,
5 miljoni euro suuruse tagastatava ettemakse ümberarvestamine omakapitaliks;