natgillin/translations-raw huggingface dataset:
There is nothing to indicate that the State’s liability for making good the asset shortfall can reasonably be incurred in such a situation.
Ülevõtjatele kohaldatavad kohustused ei sisalda ülevõtjate jaoks täiendavaid riske või piiranguid, mis asetaksid nad CGMFiga sarnasesse olukorda.
Furthermore, these alleged acts of mismanagement can be explained by political choices made by the public authorities and there is nothing to indicate either that these political choices can be classed as mismanagement within the meaning of the case-law on making good a shortfall in assets.
Nende eesmärk on ainult selle tagamine, et ajavahemikul, mil eraülevõtjad võivad äramuutvat tingimust kasutada, ei teeks nad SNCMis ühtegi juriidilist muudatust ja viiksid ellu vaid tegevust, mis on vajalik äriplaani ja sotsiaalpakti teostamiseks.
Finally, the Baker & McKenzie report lacks credibility, particularly when it maintains that SNCM’s situation was attributable to external communication errors committed by the State with regard to that situation.
Lisaks, nagu on rõhutatud 11. septembri 2012. aasta otsuses, ei piisa eeldatava kasumi analüüsist selle kinnitamiseks, et riigi investeering on tehtud turutingimustes, kuna riiklike ja erainvestorite riskid ei ole võrdsel viisil jaotatud.
All that emerges from this report is that the State mentioned a situation which was already public knowledge.
Isegi kui investeeringu samaväärsuse (pari passu) tingimus ei ole täidetud, võib meede ikkagi vastata turumajanduses tegutseva erainvestori põhimõttele.
The State’s conduct therefore has nothing in common with an act of mismanagement.
Siis tuleks aga näidata, et riigi käitumine vastas käitumisele, mille oleks sarnases olukorras valinud teadlik erainvestor, näiteks investeeringu tasuvuse eelanalüüsi kaudu.
The finding of a shortfall in assets
Prantsuse ametiasutused ei ole sellise eelanalüüsi kohta esitanud aga mitte ühtegi tõendit.
In this case, the Commission remarks that the Oddo-Hastings report points up an asset shortfall of EUR 134,4 million at 30 September 2005, calculated as the difference between the value of SNCM’s assets (EUR 190,3 million) and the value of the undertaking’s liabilities (preferential and non-preferential debts valued respectively at EUR 153,8 million and EUR 170,9 million).
Prantsuse ametiasutused jõudsid oma märkustes ex post järeldusele, et fikseeritud intressimäär […] [60] Konfidentsiaalne teave.
The Commission previously estimated the shortfall in SNCM’s assets at EUR 123,5 million at 30 September 2005 (see recital 264).
oleks erainvestori puhul kohane, võrreldes seda võlakirja OAT (Obligation Assimilable du Trésor – sularaha vastu vahetatav võlakiri, mida emiteerib Prantsuse riik) tasuvusmääraga, mille tasuvus jäi sel ajal 3,72 ja 3,95 % vahele.
The existence of a causal link between the mismanagement and the established shortfall in assets
Aga nad ei ole esitanud ühtegi analüüsi, mis näitaks, et 10 % määr oleks olnud erainvestori jaoks vastuvõetav määr, arvestades riigi kantavaid riske, näiteks äramuutva tingimuse ja ettevõtte olukorraga seotud riskid.
According to the French authorities, the manager of a legal person may be declared liable, on the basis of Article L.624-3 of the Commercial Code, even if his act of mismanagement is only one of the causes of the shortfall in assets, and may be ordered to bear in whole or in part the social debts, even if his mismanagement is the cause of only a part of them [146].
[…] [60] Konfidentsiaalne teave.
According to the French authorities, the French State would be called upon to bear a proportion estimated at between 85 % and 100 % of the established shortfall in assets, i.e. between EUR 114,3 million and EUR 134,4 million.
% määra kohaldatakse ainult 8,75 miljoni euro suuruse kapitali suhtes, aga nimetatud analüüsis oleks tulnud arvesse võtta vastastikuse mõistmise memorandumis kokkulepitud riigi kogutoetust.
There is no sound basis for this analysis.
Arvestades, et 158 miljoni euro suuruse negatiivse hinnaga või 38,5 miljoni euro suuruse ettemaksuga jooksevkontole ei ole seotud mingit kasumlikkust, siis oleks riigi koguinvesteeringu kasumimäär SNCMisse erastamise hetkel 2006. aastal selgelt olnud väiksem kui võlakirja OAT tasuvusmäär.
In so far as the alleged acts of mismanagement are based on decisions taken in the mid-1990s which immediately generated additional costs for SNCM, it is very difficult to attribute the problem to an asset shortfall in 2005, particularly since a lot of things happened between the two dates.
Turumajanduses tegutsev erainvestor ei oleks seonduvaid riske arvestades sellise määraga nõustunud.
Furthermore, if there seems to be no automatic link between the amount of compensation granted to make good the asset shortfall and the amount of the increase in liabilities caused by the manager’s mismanagement (if this were to be established), this also means that the courts may decide to set the amount to be paid by the manager at a much lower level than the established asset shortfall [147].
Eelnimetatut silmas pidades leiab komisjon, et kohtupraktikaga sätestatud kriteeriumid riigiabi tunnuste välistamiseks kõnealuse meetme puhul ei ole täidetud.
According to the allegations under investigation, the decisions were taken for protectionist purposes in a political context (what is more, 10 years earlier for the most part) or were more recent decisions taken to spare employees from having to make productivity gains or as part of efforts to improve industrial relations.
Seega kujutab kõnealune meede ELi toimimise lepingu artikli 107 lõike 1 tähenduses endast riigiabi.
Possible payment of the additional redundancy payments in the event of SNCM’s compulsory liquidation
Isikutoetuse meetmed (38,5 miljonit eurot)
According to the French authorities, in addition to the asset shortfall, and in the light of the relevant case-law [148], a court would definitely be compelled to order the French State to make the additional redundancy payments (between EUR [200-210] [60] Confidential information.
Prantsuse ametiasutuste arvates on kõnealuse rahastamise puhul tegemist isikutoetusega, millest ettevõte kasu ei saa ja mis ei ole seega riigiabi.
million and EUR [250-260] [60] Confidential information. million).
Huvitatud osapooled CCF ja STIM vaidlustasid selle meetme kvalifitseerimise isikutoetuseks, kuna nende arvates võib see meede tuua SNCMi jaoks kaasa kaudset positiivset mõju.
The French authorities consider the actual costs to be paid by the French State as shareholder as falling somewhere in the region of EUR 212,1 million to EUR 361 million.
Üldkohus täpsustab tõesti, et „[…] ei saa asjaolu, et sotsiaalabi vahetud saajad on töötajad, olla piisav, et tõendada, et nende tööandjale ei ole riigiabi antud” [155].
The French authorities point out that, in recent judgments, the French courts have ordered the de facto or de jure manager to defray, as well as the asset shortfall, additional redundancy payments calculated on the basis of a social plan drawn up by the undertaking before it was put into liquidation.
11. septembri 2012. aasta otsuse punktis 138 osutatakse samuti, et „[s]elleks et analüüsida, kas selline sotsiaalabi on käsitatav riigiabina EÜ artikli 87 lõike 1 tähenduses, tuleb seega kindlaks teha, kas SNCM saab kaudse majandusliku eelise, mis võimaldab tal vabaneda kohustusest kanda kulu, mille ta oleks tavaliselt pidanud oma rahalistest vahenditest katma, ning seega takistab turujõudude tavapäraste tagajärgede tekkimist”.
The French authorities state in particular that, in the Aspocomp case, the French company Aspocomp SAS, a 99 % subsidiary of the Finnish company Aspocomp Group Oyj, signed a company-level agreement on 18 January 2002 describing the conditions for indemnification of a social plan relating to 210 employees out of a total of 550.
Muu hulgas märgib komisjon, et vastastikuse mõistmise memorandumi järgi on selle meetme puhul tegemist riigi kohustusega oma erapartnerite ees „võimalike [mis tahes liiki] vabatahtlike töölt lahkumiste või töölepingu katkestamisega seotud kulude rahastamiseks [n-ö „suuremeelsusega seotud kulud”], mis lisanduvad igat liiki summadele, mida tööandja peab maksma […]”.
That agreement described, in particular, the amount of compensation and additional payments as well as assistance in the case of voluntary redundancy.
11. septembri 2012. aasta otsuse punktis 145 sätestatakse, et nende isikutoetuse olemasolu „müügilepingus” näitab, et need toetused loovad eelise.
Following a change in group strategy, the parent company Aspocomp Group Oyj decided on 21 February 2002 to stop financing its subsidiary Aspocomp SAS, thereby forcing the latter into voluntary liquidation.
Osalised kasutasid neid toetusi, kuna nad võisid sellest teatavat kasu saada.
That decision prevented the subsidiary from fulfilling its obligations under the company-level agreement and forced it to lay off all of its remaining employees.
Need toetused loovad sellest lähtudes SNCMi kasuks majanduseelise, võimaldades tal vältida mõnede töötajate võimalike ja tulevaste lahkumiste täielikke kulusid.
The only relevant observation made by the Court of Cassation is that an appeal court did not set out adequate grounds in law to settle confusion over ownership between a parent company and its subsidiary.
Käesoleval juhul näitab sotsiaalsete liikumiste sagedus ettevõttes, et sotsiaalkava elluviimine selles ettevõttes tooks kaasa peaaegu süsteemsed streigid ja ametiühingute muu tegevuse.
At all events, the Commission notes that the facts in Aspocomp are not comparable to those in the case under examination.
Kõnealused täiendavad sotsiaalmeetmed kujutavad endast ilma igasuguse kahtluseta eelist SNCMi jaoks.
In the present case, CGMF did not fail to honour its commitments to make additional redundancy payments.
Sellest lähtuvalt leiab komisjon, et see meede on ELi toimimise lepingu artikli 107 lõike 1 tähenduses riigiabi.
It is to be noted that both SNCM and the French authorities seem to attribute importance to the fact that a social plan […] [60] Confidential information.
2002. aasta ümberkorraldusabina makstud 15,81 miljonit eurot
It is extremely doubtful that […] [60] Confidential information.
2006. aasta meetmed suurendavad oluliselt ümberkorralduskava abi summat, mida uuriti 2002. aastal esitatud kava raames, kus summa küündis 69,29 miljoni euroni, ja mida käsitletakse ümberkorralduskava ja tema kulude muutmisena.
can be considered mismanagement such as to incur the liability of the State towards the employees […] [60] Confidential information.
Ajal, mil kaaluti erastamist, oli ümberkorralduskava endiselt käimas.
Even in the unlikely event that […] [60] Confidential information.
Aga SNCM ei suutnud saavutada selle kava elujõulisuse taastamise eesmärke.
the State was liable towards the employees and had entitled them to compensation payable by the State [150], the granting of such an entitlement would itself constitute an advantage accorded to SNCM, and hence State aid, for reasons similar to those set out below concerning aid to individuals totalling EUR 38,5 million, as this measure was capable of improving somewhat industrial relations in the undertaking.
Kohus täpsustas, et „selles osas tuleb nimelt märkida, et 2006. aasta otsus on sõnaselge asjaolu osas, et 2006. aasta kavas ümberkorraldusabi tunnuste esinemise korral tuleks neid tunnuseid analüüsida koos 2002. aasta kavast lähtuva ümberkorraldusabiga […]” [156].
Conclusion on taking account of action to make good the asset shortfall
Üldkohus rõhutab, et see analüüs tehti õigustatult.
It has not been established to the requisite legal standard that the French authorities would, with a sufficient degree of probability, have been ordered by a national court to pay damages to make good the asset shortfall, and still less that the monies to be paid would have exceeded the negative price at which SNCM was ‘sold’.
Summa 69,29 miljonit eurot koosneb 2002. aastal ümberkorralduskava esimese osana eraldatud 66 miljonist eurost ja 2005. aastal teise osana eraldatud 3,29 miljonist eurost.
Account should also be taken of the fact that the State’s actions, assuming that it was indeed guilty of mismanagement, were intended to protect national industries and services, including SNCM and its employees, notably by avoiding imposing a situation on them which could have provoked social unrest.
Sellest 2002. aasta ümberkorralduskavale eraldatud summast 53,4 miljonit puudutab tegelikkuses avaliku teenuse delegeerimist.
In reality, even if public bodies, including the State, can be considered in certain circumstances to be de facto managers of an undertaking, there is nothing to indicate that the measure to make good the shortfall can be used to gain insight into the State’s policy decisions, particularly in such circumstances.
Kõnealuse abi seaduslikkus kinnitati 11. septembri 2012. aasta otsusega, komisjon peab uurima ühiselt 2004. aasta suuniste valguses 2002. aasta ümberkorraldamise ajal ümberkorraldusabina makstud 15,81 miljoni euro ning 2006. aasta kõigi meetmete kokkusobivust.
This is a far cry from the circumstances of the Aspocomp case, which was in no way concerned with such matters.
2002.
The Commission considers in any event that the French authorities cannot now avail themselves of political choices made in the past to justify public intervention intended to remedy the effects of those earlier choices.
JA 2006.
On the contrary, both cases of intervention, i.e. the interference of the past and the more recent public intervention, should be regarded as cumulative distortions of competition.
AASTAL MAKSTUD ÜMBERKORRALDUSABI KOKKUSOBIVUSE UURIMINE
Accepting the State’s liability for making good the asset shortfall would be tantamount to allowing the State to admit to mismanagement of the undertaking so as to be able to make a financial contribution without its being classed as state aid, thereby engendering a fresh distortion of competition.
Arvesse võetavad suunised
The State would effectively be ‘using’ its own mismanagement as justification for granting an additional financial contribution in contradiction with the general principle of ‘nemo auditur propriam turpitudinem allegans’ [151].
Vastavalt 2004. aasta suunistes [157] sätestatud üleminekueeskirjadele kohaldatakse neid suuniseid, kui tegemist on ebaseadusliku abiga, mida on antud enne suuniste jõustumist.
It would also be totally contrived to portray the State simultaneously as saint and sinner, i.e. as a ‘bad manager’ (assuming this were proven to be the case) stepping in to bail out the undertaking which it has mismanaged.
Sellest lähtuvalt kujutavad 2006. aasta meetmed endast seega abi ja nad moodustavad osa 2002. aastal algatatud ümberkorraldusmeetmetest ning neid analüüsitakse koos nende meetmetega.
Management errors do not constitute normal behaviour on the part of the prudent private investor in a market economy.
Kogu selle abi kokkusobivust hinnatakse 2004. aasta suuniste raames.
Accordingly, bail-out mechanisms to set right such errors are not normal behaviour either.
Raskustes oleva äriühingu tunnused
Accepting the theory advanced by the French authorities and by SNCM would pave the way for the State to award guarantees to undertakings by knowingly ‘making management errors’.
Ümberkorraldusabi saamiseks peab ettevõtet olema võimalik liigitada raskustes olevaks äriühinguks suuniste tähenduses.
This is hardly acceptable in terms of aid discipline.
Käesoleval juhul tuletab komisjon meelde, et ta sedastas, et see tingimus oli täidetud nii komisjoni 17. juuli 2002. aasta otsuses SNCMile [158] antava päästmisabi kohta kui ka komisjoni 19. augusti 2002. aasta otsuses, millega algatatakse SNCMi 2001. aasta aruandele tuginedes ametlik uurimismenetlus rekapitaliseerimise kava suhtes.
In this case, the conduct that would incur the liability of the State according to the theory expounded by SNCM and the French authorities would in fact only apply to the State’s actions as a public authority, not as a shareholder.
Peale aktsiakapitali muutumise sedastab komisjon muu hulgas järgmist:
Given that a prudent private investor would not have taken decisions based on these political and public considerations, the risk of having to make good an asset shortfall resulting from such decisions does not come into play for a ‘prudent private investor in a market economy’ test [152].
aastatel 2001–2002 kasvas jooksev kahjum enne maksude mahaarvamist 5,1 miljonilt eurolt 2001. aastal 5,8 miljonile eurole 2002. aastal, seejuures sai 2002. aasta puhaskahjumit vähendada üksnes teatavate laevade müümise abil;
The French authorities point out that in its ABX decision of 7 December 2005 the Commission was willing to take account of the fact that ‘in certain exceptional cases, some national legislation provides for the possibility of third parties to bring proceedings against the shareholders of a liquidated company, in particular if these shareholders may be considered [deleted in the text] and/or as being guilty of mismanagement.’ [153].
SNCMi omafinantseerimine, mis 2001. aasta lõpus ulatus 39,2 miljoni euroni, langes 2002. aasta lõpuks 35,7 miljonile eurole;
However, the Commission underlines that the concept of aid must be assessed objectively and notes that the decision to open proceedings in the same case stipulated that ‘even in the unlikely event that all of these conditions required by national law to hold them accountable … were fulfilled, this would still not rule out the presence of state aid in the measures for the benefit of the subsidiary.’ [154].
finantsvõlad, välja arvatud liisingud, kasvasid 2000. ja 2002. aasta vahel 135,8 miljonilt eurolt 144,8 miljonile eurole;
In the present case, the Commission considers that the French authorities have not adequately dispelled its doubts surrounding the assertion that SNCM’s shareholder was at risk, with a sufficient degree of certainty, of being held to account.
finantskulud (intressid ja muud sarnased kulud) kasvasid 7,0 miljonilt eurolt 2000. aastal 9,503 miljonile eurole 2002. aastal.
In these circumstances, and having refused to take into account the additional redundancy payments (see recitals 225 et seq.), the Commission concludes that liquidating SNCM would have cost the State nothing.
Muu hulgas kinnitasid Prantsuse ametiasutused komisjonile, et pangad keeldusid SNCMile edaspidi tema võlgnevuste tõttu raha laenamast, vaatamata sellele, et SNCM oli teinud ettepaneku anda tagatiseks oma viimased hüpoteekide ja muude sarnaste servituutidega koormamata laevad.
The Commission considers that a private investor would have favoured the less costly solution, i.e. the liquidation of SNCM.
Kuna ümberkorraldusperiood hõlmas aastaid 2002–2006, siis tuleb kontrollida, kas SNCM täitis kõnealust tingimust vastaval perioodil ja eelkõige ajal, mil võeti vastu otsus riiklike vahendite uute toetuste kohta.
It concludes, therefore, that the negative price of EUR 158 million constitutes State aid.
2003. otsuses täheldati, et SNCM täitis eelarveaastatel 2001 ja 2002 [160] selle kriteeriumi.
EUR 8,75 million capital contribution by CGMF
Praegu tuleks uurida, kas SNCM täitis endiselt seda tingimust eelarveaastatel 2003–2005 ehk viimasel tervel eelarveaastal enne 2006. aasta uute SNCMi erastamist puudutavate meetmete elluviimist.
In their observations following the decision to open the procedure, the French authorities note that the recapitalisation by the State to the tune of EUR 8,75 million occurred concurrently with capital injections by private investors and that the State took a minority stake while the majority of the funds were provided by the market.
Eelnenu valguses on komisjon seisukohal, et SNCMi võib 2004. aasta suuniste tähenduses pidada raskustes olevaks ettevõtteks.
Furthermore, they consider that the rate of return on the State’s contribution, i.e. […] [60] Confidential information.
Omapanus
% per annum, constitutes adequate long-term profitability for capital invested by a private investor.
Suuniste punktis 44 täpsustatakse, et „[k]omisjon peab tavaliselt kohaseks järgmisi rahalisi panuseid: väikeettevõtte puhul vähemalt 25 %, keskmise suurusega ettevõtete puhul vähemalt 40 % ja suurettevõtete puhul vähemalt 50 %.
In their note of 16 May 2013, they also state that the risks connected with the cancellation clause are offset by the repurchase option available to the private shareholders.
Liikmesriigi poolt tõestatud erakorraliste asjaolude ja eriliste raskuste puhul võib komisjon nõustuda väiksema panusega”.
The State’s contribution must now be compared with that of the private investors, i.e. EUR 26,25 million.
Ka kohtupraktika on rõhutanud, et omapanus peab näitama, et turud usuvad elujõulisuse taastatavusse [161].
The State’s contribution amounts to EUR 158 million (see section 6.1.2) plus an additional EUR 38,5 million in individual aid and EUR 15,81 million paid under the 2002 plan (see sections 6.1.4 and 6.1.5).
Komisjon rõhutab, et kõnealune nõue on eriti asjakohane SNCMi puhul seoses tema olukorraga alates 2002. aastast.
All of the 2006 measures are set out in the memorandum of understanding in which each of the parties (CGMF, BCP and VT) agreed to the EUR 158 million capital contribution, the EUR 38,5 million current account advance and the EUR 8,75 million capital increase.
Komisjon meenutab, et 2002. aasta ümberkorralduse algsed meetmed ei andnud oodatud tulemusi.
These three measures constitute a single operation aimed at privatising SNCM.
Mõningatest eesmärkidest ei peetud kinni ja teisi ei saavutatud (vt punkt 351).
As the General Court itself observes in paragraph 125 of the judgment of 11 September 2012, ‘That capital contribution [of EUR 8,75 million] takes place in the context of a global sale agreement, resulting from a single set of negotiations, in which the purchasers’ capital constitutes the counterpart to significant commitments, in various forms, made by the French State’.
Kuna SNCM ei suutnud neid esimesi ümberkorraldusmeetmeid täielikult ellu viia, siis halvenes tema majanduslik ja rahaline olukord jätkuvalt alates 2004. aastast (vt punktid 73–75).
The three measures in question are therefore to be considered a package and this capital injection into SNCM by the State must be compared with the contribution by private investors for the purposes of assessing the significance of the intervention.
Ümberkorralduskulud ulatusid 2002. aastal 46 miljoni euroni.
In the light of the foregoing, the Commission concludes that the private shareholder contribution, i.e. 10,6 % of the total, cannot be considered significant.
Igal juhul on komisjon seisukohal, et käesoleval juhul ei ole olemas erakorralisi asjaolusid, mis õigustaksid 2004. aasta suunistes nõutud omapanuse madalat taset.
As already established in recital 311, the three measures in question constitute a single privatisation operation.
Komisjon leiab seega, et SNCMi omapanus ümberkorraldusse on suuniste sätete seisukohast ebapiisav.
The Commission therefore considers that the public and private capital contributions are to be deemed concurrent.
Pikaajalise elujõulisuse taastamine
Regarding the criterion of contributions made under comparable conditions, the Commission notes, firstly, that the interested parties CCF and STIM have called into question the significant nature of the private intervention, and in particular the existence of comparable conditions between the public investment and the private investors, given the presence of a cancellation clause.
Algatamise otsuses väljendas komisjon kahtlusi seoses SNCMi pikaajalise elujõulisuse taastamisega, seoses eelkõige järgmiste asjaoludega:
The Commission considers that the circumstances of this capital increase alone demonstrate that the risks run by the private and public investors are not identical.
SNCM ei plaaninud kogu oma kahjumliku tegevuse kaotamist;
The existence of the cancellation clause and the conditions attached thereto suffice to show that the respective outcome for the private investors and the public investor in terms of risk is not the same should the conditions set out in the clause be fulfilled.
ümberkorralduskava edu oli tihedalt seotud avaliku teenindamise delegeerimislepinguga Marseille ja Korsika vahel ajavahemikuks 1. jaanuarist 2007 kuni 31. detsembrini 2012;