natgillin/translations-raw huggingface dataset:
There were two loans provided by private operators, but their amounts were small taking account of the amounts of public investment, these loans related only to Part II of the ‘Nürburgring 2009’ project (i.e. mainly to hotels) [152], and they were granted only to CMHN or MSR, but not to NG or another aid beneficiary:
Seda arvestades on komisjon seisukohal, et turumajanduslikult tegutsev võlausaldaja ei oleks nõus rahastama tõsistes raskustes oleva äriühingu tagasimaksmata laene ega allutama tõsistes raskustes oleva äriühingu olemasolevaid nõudeid, sest selline meede tähendaks faktiliselt nõuete kaotamist.
Table 14
Seetõttu on komisjon seisukohal, et toetuskiri, mis hõlmas kohustust rahastada tagasimaksmata laene ja nendest tulenevate nõuete allutamist, kujutab endast eelise andmist.
Loans granted by private financial institutions to CMHN/MSR
Meetme summa on võrdne NG poolt 23. detsembril 2009. aasta toetuskirja alusel rahastatud laenude summaga, kuid komisjonil ei ole andmeid selle suuruse kohta.
Financial institution
Viimaks leiab komisjon seoses nõuete allutamisega, et NG ja CST leppisid selle kokku 13. detsembril 2010 ning lepingu kohaselt anti kuni 30. novembrini 2010 laene kokku 10,4 miljonit eurot (st tabelis 6 esimesed 13 laenu 15st).
Year
Peale selle paigutusid NG nõuded CST vastu nõuete allutamise tõttu viimasele järjekohale, pärast kõigi teiste võlausaldajate nõudeid CST vastu.
Amount (EUR million)
Seda arvestades on komisjon seisukohal, et turumajanduslikult tegutsev võlausaldaja ei oleks olnud nõus rahastama allutama tõsistes raskustes oleva äriühingu olemasolevaid nõudeid, sest selline meede tähendaks faktiliselt nõuete kaotamist.
Collaterals
Seetõttu on nõuete allutamine komisjoni seisukoha järgi eelise andmine.
(EUR million)
Meetme summa on võrdne allutatavate nõuete kogusummaga, st 10,4 miljoni euroga.
Bank for Tirol and Vorarlberg
Seoses NG maksetega IPCle (6. meede) võtab komisjon teadmiseks Rheinland-Pfalzi liidumaa kontrollikoja seisukoha, et hoolas ettevõtja ei oleks asjaomaseid ettevõtjaid teenuste osutamiseks valinud ning et NG ei kontrollinud piisavalt põhjalikult nende ettevõtjate varasemat tegevust, et hinnata nende sobivust ja uurida, kas nende pakutud tingimused projekti „Nürburgring 2009” rahastamiseks on realistlikud [160].
pledging shares of MSR
Peale selle on komisjon seisukohal, et NG 3 miljoni euro suurune laen PNGle ja PNG 2941000 euro suurune laen MSRile moodustavad tervikuna meetme, mille puhul PNG oli ainult vahendaja, kes sai selle eest tasu […] eurot.
In any case, Germany acknowledges that also for Part II no long-term private investor was found.
Abisaaja oli MSR, kes sai lõpuks laenu ajal, mil ta oli juba nii suurtes rahalistes raskustes, et ta turult ei oleks laenu saanud.
Furthermore, for the period from 2006 to 2010, the Commission received business plans for the ‘Nürburgring 2009’ project and for NG as such:
Eelis, mille NG andis MSRile 15. oktoobril 2008. aastal antud laenuga, on võrdne 2941000 euroga.
Business plans for the Nürburgring 2009 project (EUR million)
Komisjon märgib, et kuna CST oli raskustes (vt põhjendus 184), ei olnud tõenäoline, et MIB oleks CSTle antud laenu tagasi saanud.
Relevant entity/activity
Seetõttu oli see meede MIBle kasulik, sest ta sai oma nõuded realiseerida ja teda asendas NG, kellest sai raskustes oleva äriühingu võlausaldaja.
17 [154]
meede – garantii ISB 325265000 euro suurusele laenule (8. meede) – ei ole kooskõlas turumajanduslikult tegutseva investori põhimõttega.
35 [154]
Tegemist on avaliku sektori meetmega piirkondliku arengu eesmärgil; turumajanduslikult tegutsev investor ei oleks võtnud raskustes olevate äriühingute kasuks niisuguseid meetmeid ega kahjustanud sellega märkimisväärselt enda rahalisi huve.
NG, MSR, CHMN consolidated [155]
Lisaks nendib komisjon, et piirkondliku arengupoliitika eesmärk ei ole muuta raskustes olevaid äriühinguid elujõuliseks.
769 [156]
Samuti on komisjon seisukohal, et täitmata on tingimused, mis on esitatud komisjoni teatises EÜ asutamislepingu artiklite 87 ja 88 kohaldamise kohta garantiidena antava riigiabi suhtes [161] (edaspidi „garantiiteatis”) ja mis võimaldavad välistada riigiabi olemasolu.
269 [156]
Nimelt olid abisaajad raskustes olevad äriühingud, garantii kattis laenu 100 % ning liidumaa ei olnud maksnud garantiipreemiat tagatud laenude krediidiriskide ülevõtmise eest.
Part of measures 1, 2 and 3 were applied before the first plan of December 2005.
Komisjon märgib seoses 10. meetmega (Nürburgringi kompleksi rentimine NAGle), et eelise andmist rentnikule saab üldiselt välistada pakkumismenetlusega.
Therefore those measures cannot be considered as having been decided on the basis of the business plans in question.
Kõnealusel juhul aga ei korraldatud ajakohastatud Nürburgringi kompleksi käitaja valimiseks pakkumismenetlust.
Also as regards the first business plan (December 2005), part of measures 2 and 3 were granted at the same time with it.
Komisjon märgib seetõttu, et 29. septembri 2011. aasta eksperdiarvamuses esitatud 15 miljoni euro suurune minimaalne renditasu, mis kehtis alates 1. maist 2013, võis olla kooskõlas turunõuetega, sest see jäi turul tavapäraste renditasude vahemikku ega oleks andnud seetõttu NGle eelist.
In this regard, the Commission notes that those measures were granted in a context of continuous public support, which had started already earlier (in 2002 or earlier), without any private support and in favour of a firm in a worsening financial situation.
Tabel 16
Thus, the part of measures 2 and 3 in question cannot be taken in isolation from the ones granted prior to them (part of measures 1, 2 and 3), but they form a continuity of the latter and therefore the part of measures 2 and 3 at hand has to be considered as granting a further advantage.
Nürburgringi kompleksi minimaalne renditasu
On this basis, the business plans in question cannot be considered as realistic and acceptable, since they disregarded the company's bad recent historic data and kept the same forecasts as before. (d) The first six business plans (December 2005, March 2006, August 2006, November 2007 and December 2008) did not concern the future operations of NG as a whole but only partially, because they did not take into account the Formula 1 activity.
12 miljonit eurot
On this basis, the business plans in question cannot be considered as a reliable basis for deciding financial support to NG.
12,3 miljonit eurot
The business plans of March 2009-December 2009 included forecasts also for the Formula 1 activity.
Rendileping
However, for the whole period 2009-2020, the Formula 1 activity was forecasted to bring losses, with sales which were forecasted to remain stable and at the same level as before 2009, therefore it appears that the Formula 1 activity was not foreseen to be restructured.
0 eurot
In the same vein, the Commission notes that those plans forecasted earnings which were significantly lower than the ones foreseen by the previous business plans (EUR 7-9 million, by contrast to EUR 22-40 million).
5 miljonit eurot
The above facts would reduce the validity of the business model presented in the plans of the period March 2009-December 2009.
11,5 miljonit eurot
Two business plans from July 2010 and September 2010 foresaw losses until 2030, under the worst case scenario, therefore, the activity was not foreseen to be viable.
Komisjon jõuab järeldusele, et abi summa on 9 miljonit eurot, s.o renditasude a ja b vahe (kolmanda aasta eest arvestatakse ainult pool sellest vahest, sest rendileping lõppes 31. oktoobril 2012, st kolmanda aasta poole peal) [162].
Finally, one plan of September 2010 foresaw earnings between 2016 and 2030, however, that plan did not include sensitivity analysis (i.e. worst case scenario results).
meetme (RIMi laen MSRile Mediinvesti kui vahendaja kaudu ja – ühe laenu puhul – ka PNG kaudu) puhul tunnistab Saksamaa ka ise, et projekti „Nürburgring 2009” II osa rahastamiseks erainvestorit ei leitud.
In any case, that plan's forecasts ignored the significant worsening of NG's actual results in the same period (negative equity, significant increase of debt, reduction of sales, annual losses).
Samuti nähtub Rheinland-Pfalzi liidumaa kontrollikoja arvamusest, et võimalikud investorid ei pidanud projekti turutingimuste kohaselt kasumlikuks.
On this basis, the business plan in question cannot be considered as realistic and acceptable, since it disregarded the company's bad recent historic data.
Mitu vabaajaparkidega tegelevat eraettevõtjat loobus projektis osalemisest.
On the basis of the above, the Commission cannot consider that any public support to NG as a firm in difficulty (see Section 5.1 above), which aimed at financing its operations at the time (operation of race ring) or in the future (operation of race ring together with new hotels), would be deemed as market conform on the basis of the business plans in question.
Ilma asjaomase garantiita (12. meede) võis laenu andmine ettevõtjale, kes on sellistes raskustes, et ükski erainvestor ei annaks talle mitte mingisuguse intressiga laenu, kujutada endast eelise andmist kogu laenu ulatuses.
As for the market economy investor principle, the following can be stated for the individual measures:
Kõnealusel juhul ei seisne abi mitte laenus (11. meede), vaid garantiis (12. meede), sest komisjon ei saa välistada, et erasektori võlausaldaja ei oleks võinud MSRile tänu liidumaa garantiile (12. meede) samaväärsetel tingimustel laenu anda.
For measure 1 (provision of capital by the Land and the district of Ahrweiler to NG in the form of payments in capital reserve and capital increases), the Commission notes that the analysis presented above for the submitted business plans is relevant.
Komisjon märgib, et Mediinvest ja PNG ei olnud tegelikud abisaajad, vaid üksnes vahendajad selleks, et RIMi laen MSRini jõuaks.
No private investor would have provided capital to NG in 2004 and in the following years.
Ainult Mediinvest sai teenuse osutamisest kasu, mis seisnes intressimäärade vähemalt 4,3 % suuruses vahes (RIMilt saadud laenu ja MSRile antud laenu vahel), PNG aga erinevatest intressimääradest tulu ei teeninud (Mediinvestilt saadud laenu intressimäär oli sama mis MSRile antud laenu puhul).
Therefore, the capital provided by the Land to NG on 1 May 2002 (amounting to EUR 2179000) and on 21 December 2004 (amounting to EUR 22839241), as well as the capital provided by the Land and the district of Ahrweiler on 31 August 2004 (amounting to EUR 4887000) and 4 September 2007 (amounting to EUR 10000000) involve aid which is equal to the full amount of capital provided.
Peale selle ei ole komisjonil võimalik põhjendustes 32–34 ja tabelis 14 esitatud andmete põhjal järeldada, et Mediinvest ja PNG küsisid oma teenuste eest intresse, mille määr ei olnud turul tavapärane, või et intressimäärade vahe (Mediinvesti puhul vähemalt 4,3 % ja PNG puhul 0 %) oleks olnud turul kehtivast tasemest suurem.
As regards measure 2 (shareholder loans by NG before the ‘Nürburgring 2009’ project), on the basis of the financial data submitted by the German authorities, the Commission notes that EWN, Camp 4 Fun and TTI had annual losses and negative equity when each of them received its part of measure 2 (see Tables 1-4 above).
Seetõttu on komisjon seisukohal, et Mediinvesti ja PNGd ei saa pidada 11. meetme raames abisaajateks.
At the same time BWN1, BWNB and BWN2, which received loans in the period 2004-2007, had annual losses during that whole period and also negative equity in 2005, 2006 and 2007.
meetme (ISBle antud liidumaa garantii RIMi passiivse osaluse suhtes Mediinvestis (11. meede)) suhtes väljendab komisjon seisukohta, et selle lahendusega võimaldati MSRil saada 11. meetme all kirjeldatud laenu.
Finally, MAN had both accumulated and annual losses when it received its part of measure 2.
MSRi rahaline olukord oli laenu saamise ajal väga nigel.
Therefore, on the basis of point 11 of the R&R Guidelines, the Commission considers that those companies were in difficulty at the time of measure 2.
Ükski erainvestor ei oleks nii halvas rahalises olukorras olevale ettevõtjale garantiid andnud.
On the other hand, on the basis of the financial data submitted by the German authorities, the Commission notes that FSZ was not in difficulty when it received its part of measure 2, because its financial data did not demonstrate any of the signs of point 11 of the R&R Guidelines.
Seetõttu on komisjon seisukohal, et 12. meede kujutab endast riigiabi.
The provision of loans to companies in such difficulties that no private investor would have financed at any rate, especially since those companies belonged to a company which itself was in severe financial difficulty (NG), involves an advantage to these companies, which is equal to the amount of the loans.
MSRile liidumaa garantii kaudu antud abi suurus on võrdne asjaomase laenu (11. meede) summaga, mis on 85484000 eurot.
Therefore, the loans granted by NG to its subsidiaries, namely EWN (EUR 6195170,02), BWN/BWNB (EUR 3760000), Camp4Fun (EUR 450000), MAN (EUR 100000) and TTI (EUR 25000) are not compliant with the market economy investor principle.
Seoses 13. meetmega (hasartmängumaksu tulust tehtud liidumaa eraldised NGle turismi edendamiseks) on komisjon seisukohal, et tegemist on avaliku sektori asutuse meetmega turismivaldkonna edendamiseks; turumajanduslikult tegutsev investor ei oleks võtnud niisuguseid meetmeid raskustes oleva äriühingu kasuks ega kahjustanud sel viisil märkimisväärselt enda rahalisi huve.
In this context, it is noted that the loans granted to MAN and TTI are below the de minimis threshold, but Germany has neither argued not provided that all the conditions of the Commission Regulation (EC) No 1998/2006 [157] were fulfilled;
Lisaks leiab komisjon, et turismipoliitika eesmärk ei ole muuta raskustes olevaid äriühinguid elujõuliseks.
that Regulation could be applied in the recovery phase if Germany demonstrates that all the conditions of the Regulation are met.
Arvestades NG halba rahalist olukorda, on komisjon seisukohal, et NGle anti eelis kõnealuse meetmega seotud summa ulatuses.
Furthermore, the Commission notes that the loans granted to FSZ (EUR 646738,12) did not confer an advantage to the latter, since they were granted at the interest rate of 6 % which is at market level because it corresponds to the sum of Germany's base rate at the time of the granting of the loans (5,06 % in April 2002, 4,8 % in March 2003 and 5,19 % in March 2008) [158] and the basis points to be added for FSZ's financial condition (100 basis points) taking into account that it did not present any of the signs of point 11 of the R&R Guidelines when it received those loans [159].
Liidumaa eraldas NGle hasartmängumaksu tulust 2009. aastal 1,6 miljonit eurot ning nii 2010. kui ka 2011. aastal 3,2 miljonit eurot, mis kokku moodustavad NGle eraldatud abi summa.
Regarding measure 3 (loans grated to NG from the liquidity pool of the Land), Germany does not put forward any evidence to demonstrate that NG did not benefit from interest rates that were more advantageous compared with the conditions of its competitors.
Peale selle kujutab laenu väljastamine ettevõtjale, mis on sellistes raskustes, et ükski erainvestor ei annaks talle mitte mingisuguse intressiga laenu, endast eelise andmist kogu laenu ulatuses.
Finally, the eventual repayment of the funds and the corresponding interest is an ex post event, unknown at the time of the granting of the measures;
Nõuete allutamise tõttu, millest liidumaa teavitas 29. augustil 2007 seoses nimetatud 20 miljoni euro suuruse laenuga ja mille eesmärk oli vältida NG maksejõuetuks muutumist, paigutusid liidumaa nõuded NG vastu viimasele järjekohale, pärast kõigi teiste võlausaldajate nõudeid NG vastu.
therefore it cannot be taken into account for the market economy investor test.
Seda arvestades on nõuete allutamine (osa 14. meetmest) komisjoni arvates 14. meetme raames antud 20 miljoni euro suhtes eraldi eelis, sest sellega kahandati märkimisväärselt liidumaa võimalust oma nõudeid NG vastu sisse nõuda.
Therefore, the measures financed by the liquidity pool were not performed on market terms.
Meetme summa on võrdne allutatud nõuete summaga, sest sellega võimaldati NGl hoiduda 20 miljoni euro suuruse allutatud laenu tagasimaksmisest.
The provision of loans to a company in such difficulties that no private investor would have financed it at any rate involves an advantage to the company which is equal to the amount of the loans.
meetme (MSRi osade üleminek NGle ja RIMile) kohta tuleb märkida, et meetme võtmise ajal oli MSR raskustes, st sai kahjumit.
In sum, the granting of loans by the Land to NG between 30 June 2003 and 11 May 2010 (see the list of loans in Table 5) involves aid of EUR 399805370.
See tähendab omakorda, et väärtus, mis tulenes tema tegevusest ja mis osanikele esitati, oli negatiivne.
Under the same test as above, the Commission concludes the same for measure 4 (loan granted by NG to MSR).
Seega oli MSRi negatiivsete majandustulemuste tõttu ka osade väärtus negatiivne.
Indeed, it cannot be accepted that at the time of the measure (December 2007), there would be any financing available in the market for a company in MSR's financial difficulties (see Table 12 and recital 155), at any interest rate.
Teisisõnu oleks võimalik investor MSRi investeerimise korral nõudnud, et talle makstaks summa, mis on võrdne MSRi tegevusest tuleneva kahjumiga, mis kajastub tema osades.
The provision of a loan to a company in such difficulties that no private investor would have financed it at any rate involves an advantage to the company, which is equal to the amount of the loan.
MSRi ostmisega soovisid NG ja RIM ettevõtjat selgesõnaliselt toetada.
Therefore, the advantage granted by NG to MSR through the loan of EUR 300000 on 27 December 2007 is equal to EUR 300000.
Omanikuvahetus iseenesest ei tähendanud siiski abi andmist MSRile.
The support provided by NG to CST (measure 5) does not comply with the market economy investor principle.
Pigem võidi MSRile abi anda edasiste meetmetega (nt NG laenu andmine MSRile).
The provision of loans to a company in such difficulties that no private investor would have financed at any rate, especially since CST belonged to a company which itself was in severe financial difficulty (NG), involves an advantage to the company, which is equal to the amount of the loan.
Nende summade refinantseerimiseks eraldas liidumaa NGle 2011. aastal intressita laenu 40405000 eurot.
Therefore the advantage granted by NG to CST through the loans of a total amount of EUR 11032060 provided to it between the 27 August 2008 and the 18 April 2011 is equal to the amount of the loans.
Vormel 1 kontsessioonilepingu (17. meede) kohta märkis Saksamaa, et vormel 1 võidusõitude korraldamine on siseturuga kokkusobiv abimeede, mis on kooskõlas üldist majandushuvi pakkuvate teenuste eeskirjadega.
As regards the letter of comfort, the Commission notes that it was granted by NG to CST on 23 December 2009 and constituted a commitment of NG, by which it would fund the repayment of financial obligations of CST, which CST itself was unable to repay.
Saksamaa ei väida aga, et meede oli hüvitis, mis ei hõlma riigiabi ja on kooskõlas kõigi Altmarki kohtuotsuse kriteeriumidega.
The funding of such financial obligations would take place through loans by NG to CST, with an interest rate of 6 %.
Ta ei tõesta ka, et kontsessioonitasu oli eksperdiarvamuse või turu-uuringu kohaselt turul tavapärane või et kontsessiooni suhtes korraldati pakkumismenetlus.
The commitment also included a subordination of the claims of NG stemming from those loans, funded by NG on the basis of the comfort letter of 23 December 2009, which foresaw that NG's relevant claims against CST would rank in the last position of all creditors' claims against CST.
Kuna puuduvad tõendid, mis näitaksid, et meede oli kooskõlas turunõuetega, on komisjon seisukohal, et kontsessioonilepinguga anti NAGle eelis.
In this context, the Commission considers that a market economy creditor would not commit to fund unpaid loans of a firm in severe difficulty or to subordinate materialised claims against a firm in severe difficulty, since such measure would amount to the actual loss of the claims.
Kõnealuse meetme puhul peaks abisumma suurus olema võrdne kontsessioonitasu ja kontsessiooni turuväärtuse vahega.
On this basis, the Commission finds that the letter of comfort, which included the above commitment for the funding of unpaid loans and subordination of subsequent claims, constitutes an advantage.
Kuna aga Saksamaa esitatud andmete kohaselt lepingu alusel ühtegi makset ei tehtud, siis seeläbi saadud riigiabi tegelikkuses ei rakendatud ja selle summat ei ole võimalik kindlaks määrata.
The Commission also considers that the letter of comfort constitutes a measure additional to the loans of 2008-2011 (see recital 182 above), since:
Intresside ajatamine laenu suhtes, mis anti niisugustes raskustes olevale ettevõtjale, kellele ükski erainvestor ei annaks mitte mingisuguse intressiga laenu, kujutab endast eelise andmist kogu muudetud tingimustega laenu tasumata summa ulatuses.
it was not granted at the same moment with those loans;
Seetõttu on 15. mail 2012. aastal ISBga kokkulepitud maksegraafiku muutmine NG puhul 1473000 euro suuruses summas, MSRi puhul 1205000 euro suuruses summas ja CMHNi puhul 303000 euro suuruses summas riigiabi, mis võrdub muudetud maksetingimustega laenude tasumata summaga.
it was not foreseen or imposed by the underlying loans' contracts;
Liidumaa vabastuskirja ja nõuete allutamise (19. meede) kohta märgib komisjon järgmist:
and (c) it was discretionally decided by NG in order to avoid the insolvency of CST.
liidumaa eelnimetatud vabastuskirjast tulenevate nõuete allutamise tõttu 2012. aastal paigutusid liidumaa nõuded viimasele kohale, pärast kõigi teiste võlausaldajate nõudeid NG, MSRi ja CMHNi vastu.
As regards the amount of the measure, it is equal to the total amount of loans funded by NG on the basis of the comfort letter of 23 December 2009, however the Commission is not in possession of the relevant amount.
Seda arvestades on komisjon seisukohal, et turumajanduslikult tegutsev võlausaldaja ei oleks olnud nõus allutama tõsistes raskustes oleva äriühingu olemasolevaid nõudeid, sest selline meede tähendaks faktiliselt nõuete kaotamist.
Finally, as regards the subordination of claims, the Commission notes that it was agreed between NG and CST on 13 December 2010 and contractually referred to the loans granted until 30 November 2010 totalling EUR 10,4 million (i.e. the 13 first loans of Table 6 above, out of the total 15).
Meetme summa on võrdne 2012. aasta vabastuskirja ja nõuete allutamise aluseks olevate võlgadega, st 254 miljoni euroga.
The Commission further notes that the subordination in question resulted in the ranking of NG's claims against CST in the last position of all creditors' claims against CST.
Nimetatud meetmed hõlmavad komisjoni arvates üldtaristu hulka mittekuuluva kompleksi käitamist ja nende võtmisel ei eeldatud, et liidumaa panus võimaldaks teenida turul tavapärast kasumit.
In this context, the Commission considers that a market economy creditor would not accept such a subordination of materialised claims against a firm in severe difficulty, since such measure would amount to the actual loss of the claims.
Seetõttu hõlmab nimetatud kompleksi ehitamine ja käitamine riigiabi, millest sai kasu käitaja, st eeskätt NG.
On this basis, the Commission finds that the subordination constitutes an advantage.
Samuti on komisjon seisukohal, et ka laenu või garantii asjakohase turuhinna ja meetme eest tegelikult makstud hinna vahe hõlmab riigiabi; kuna abisaajad olid nii suurtes raskustes, et nad ei oleks turult laenu saanud, on see eelis võrdne kõnealuste meetmete kogusummaga.
The Commission also considers that the subordination of 2010 constitutes a measure additional to the underlying loans, since:
Järeldus riigiabi olemasolu kohta