natgillin/translations-raw huggingface dataset:
A take-over of the lease contract between the sellers and NBG by the buyer was not considered by the insolvency administrators, because of the special situation of NBG in view of the transfer of assets sought from the outset.
Stečajni upravitelji ionako nisu razmatrali mogućnost da preuzimatelj preuzme ugovor o zakupu između prenositelja i NBG-a zbog posebne situacije NBG-a u pogledu otuđenja imovine koje je planirane otpočetka.
The insolvency administrators claim that complainant 3 had realised very late that in case of a take-over of the assets as of 1 January 2014, it would have a predominantly ‘empty’ Nürburgring, and the new contracts with customers and sponsors would lead to (increased) revenues only in the 2015 season due to the planning time of (racing) events.
Stečajni upravitelji ističu da je treći podnositelj pritužbe jako kasno shvatio da bi nakon preuzimanja imovine 1. siječnja 2014. imao uglavnom „prazan” Nürburgring i da bi novi željeni ugovori s klijentima i sponzorima za razdoblje za pripremu događanja (utrka) doveli do (viših) prihoda uglavnom tek u sezoni 2015.
Moreover, the sellers had repetitively stressed that the bidders could define the subject of the purchase.
Osim toga, prenositelji su stalno ponavljali da ponuditelji mogu sami slobodno odrediti predmet kupnje.
As regards the claims for damages of third parties, the sellers informed complainant 3 that it would be hardly possible for it to conclude new contracts with the customers of NBG under terms for the customer worse than the running contract, insofar as the issue of a compensation of damages for the non-fulfilment of the contracts with NBG is not clarified.
U pogledu potraživanja trećih osoba za naknadu štete prenositelji su upozorili trećeg podnositelja pritužbe da će teško moći s klijentima NBG-a sklopiti nove ugovore koji, za klijente, u odnosu na trenutačne ugovore sadržavaju lošije uvjete dok god se pitanje naknade štete zbog nepridržavanja ugovora s NBG-om ne razjasni.
It was necessary to address the risk that the buyer and the contractual partners conclude a new contract that leads to a situation where the contractual partner pays a high consideration, asks for a compensation of the difference with the old amount of consideration and pays in the later years, for which there was no contract with NBG, a substantial lower consideration.
Morao se u obzir uzeti rizik da će preuzimatelj i ugovorni partneri sklopiti novi ugovor na temelju kojeg će ugovorni partner plaćati visoku naknadu, razliku u odnosu na stari iznos naknade zahtijevati kao naknadu štete zbog neispunjenja obveza i u kasnijim godinama, za koje nije postojao ugovor s NBG-om, plaćati znatno niže naknade.
The requirement of the sellers for such exclusion is not unusual for asset deals that lead to business close-down and allows to guarantee the best sale in the interest of the creditors.
Potraživanje prenositelja u skladu s izuzećem u slučaju prodaje imovine koja će dovesti do obustave poslovanja ni u kojem slučaju nije neuobičajeno i primjereno je za osiguranje najbolje moguće cijene u interesu vjerovnika.
Pursuant to the insolvency administrators, the deadline for the submission of the confirmatory offers was extended by letter of 17 December 2013 because also other bidders had not yet submitted a satisfactory offer.
Prema podatcima stečajnih upravitelja rok za predaju konačne ponude produljen je dopisom od 17. prosinca 2013. jer još ni ostali ponuditelji nisu dostavili zadovoljavajuću ponudu.
It was repetitively made clear to the bidders that NBG took over the operative business only after the 2012 season, that it had therefore to fulfil largely the contracts of NAG and that a reliable accounting for the operational business did thus not (yet) exist.
Ponuditeljima je više puta jasno rečeno da je NBG preuzeo operativno upravljanje tek nakon sezone 2012. i da je na temelju toga u biti morao odraditi stare ugovore NAG-a te da stoga (još) ne postoji pouzdan sustav izvješćivanja o operativnom upravljanju.
According to the insolvency administrators, it is up to the potential buyers to take account of the related risks.
Stečajni upravitelji navode da su potencijalni preuzimatelji obvezni uzeti u obzir rizike koji su s tim povezani.
The insolvency administrators indicate that on 6 March 2014, complainant 3 submitted a mark-up to the asset sale agreement to its confirmatory offer.
Stečajni upravitelji upućuju na činjenicu da je treći podnositelj pritužbe 6. ožujka 2014. naknadno u svojoj konačnoj ponudi dostavio komentare uz kupoprodajni ugovor.
The draft asset purchase agreement negotiated on 13 February was from the sellers;
Nacrt kupoprodajnog ugovora o kojem se pregovaralo 13. veljače izradili su prenositelji.
it was therefore clear that the next draft would be produced by complainant 3.
Stoga je bilo jasno da će sljedeći nacrt izraditi treći podnositelj pritužbe.
According to the insolvency administrators, all the bidders that qualified to the respective phase of the selection process had the same documents at their disposal in the data room.
Prema navodima stečajnih upravitelja svi su ponuditelji koji su ispunili uvjete za određenu fazu natječajnog postupka u sobi s podatcima na raspolaganju imali iste dokumente.
The documents identified in the complaint were not available to the sellers and particularly to other bidders earlier, all tenderers had the same chance to view the documents in the data room, and other tenderers concluded the due diligence with the same documents.
Dokumente koji se navode u pritužbi ranije nisu imali na raspolaganju ni prenositelji, a posebno ostali ponuditelji; svi su ponuditelji imali jednaku šansu pregledati dokumente u sobi s podatcima te su ostali ponuditelji u cijelosti proveli postupak due diligence na temelju istih dokumenata.
All the bidders were informed early enough that the accounting of the companies had deficiencies.
Svi su ponuditelji dovoljno rano obaviješteni o tome da je sustav izvješćivanja društava imao nedostataka.
Almost all documents of the sellers and NBG were put in German in the data room, and the sellers were not obliged to provide all documents in English.
Gotovo su svi dokumenti prenositelja i NBG-a u sobi s podatcima bili na njemačkom jeziku te prenositelji nisu bili obvezni sve dokumente pripremiti na engleskom.
In addition, the insolvency administrators bring forward that the deadline for the submission of offers and evidence of financing was satisfactory.
Osim toga, stečajni upravitelji navode da je vrijeme za predaju ponuda i dokaza o financiranju bilo dovoljno.
Complainant 3 had 10 months (8 April 2013, as the date of the first contact between [Bidder 3] and the sellers, until 17 February 2014) for the submission of evidence of financing and almost four months (23 October 2013 until 17 February 2014) for the due diligence.
Treći podnositelj pritužbe imao je na raspolaganju deset mjeseci (od 8. travnja 2013., odnosno trenutka prvog kontakta između [trećeg ponuditelja] i prenositelja, do 17. veljače 2014.) za predaju dokaza o financiranju i gotovo četiri mjeseca (od 23. listopada 2013. do 17. veljače 2014.) za postupak due diligence.
The insolvency administrators state that they exceeded the requirements that can be deduced from the decisional practice of the Commission [127].
Stečajni upravitelji stoga su ponudili bolje uvjete od uvjeta koji proizlaze iz prakse odlučivanja Komisije [127].
The negotiations for the new contract on the supply of beer and with ‘Rock am Ring’ were not negotiated by Capricorn but by NBG, and the corresponding documents were put in the data room.
Pregovore o novom ugovoru s dobavljačima piva i s predstavnicima festivala „Rock am Ring” nije vodio Capricorn, nego NBG koji je pripremio i odgovarajuće dokumente u sobi s podatcima.
There is no link to Capricorn claimed by complainant 3.
Capricorn u tome nije sudjelovao, kako tvrdi treći podnositelj pritužbe.
The sellers had not introduced any environmental criteria in the tender process for selecting the final offer.
Prenositelji nisu uključili kriterije u pogledu okoliša u natječajni postupak za odabir konačne ponude.
The only criteria of the tender process for selecting the final offer were:
Jedini kriteriji u natječajnom postupku za odabir konačne ponude bili su sljedeći:
Complainant 3's offer could not be selected because it was missing the latter criterion, i.e. it did not have transaction security, because complainant 3 had not submitted a proof of financing with its confirmatory offer.
Ponuda trećeg podnositelja pritužbe nije se mogla odabrati zbog izostanka sigurnosti transakcije jer treći podnositelj pritužbe pri dostavljanju svoje konačne ponude nije dostavio potvrdu o financiranju.
Furthermore, the insolvency administrators tried to estimate the chances of complainant 3 to secure the financing by assessing further indicators of complainant 3's business model that could speak for the implementation of the transaction.
Nadalje, stečajni upravitelji pokušali su, na temelju daljnjih pokazatelja u poslovnom modelu trećeg podnositelja pritužbe kojima se mogla potkrijepiti realizacija transakcije, procijeniti njegove šanse za to da ipak osigura financiranje.
The concept of complainant 3 was therefore evaluated as an indicator for a substantial risk in view of the conclusion of the contract or at least for a substantial time and negotiation requirements.
Koncept trećeg podnositelja pritužbe stoga je ocijenjen pokazateljem velikog rizika da se ugovor neće sklopiti ili barem da će biti potrebno znatno vrijeme i pregovaranje.
The compliance of the concept with the noise requirements at Nürburgring was not an award criterion.
Spojivost koncepta sa zahtjevima u pogledu zaštite od buke na Nürburgringu nije bio kriterij za odabir.
With regards to complainant 3's claim that Capricorn's offer was not unconditional, since it was subject to a non-contestable decision by the Commission making clear that there is no extension of the recovery order, the insolvency administrators and Germany argue that complainant 3 had conditions in its mark-up contract with a similar effect.
U pogledu tvrdnje trećeg podnositelja pritužbe da ponuda grupe Capricorn nije bezuvjetna jer ovisi o pravomoćnoj odluci Komisije u kojoj je isključeno proširenje naloga za povrat stečajni upravitelji i Njemačka pojašnjavaju da je ugovor s komentarima trećeg podnositelja pritužbe sadržavao slične uvjete.
According to the provisions included in the relevant parts of those mark-up contracts, as submitted by the insolvency administrators and Germany, the purchaser and/or the seller had the right to withdraw from the contract if no positive decision of the Commission had been issued by 15 July 2014 (as stipulated in draft contract of 14 January 2014) or 31 December 2014 (as stipulated in draft mark-up contract of 14 February 2014).
U skladu s relevantnim odredbama ugovora s komentarima koje su dostavili stečajni upravitelji i Njemačka prenositelji i/ili preuzimatelj imali su pravo povući se iz ugovora ako Komisija do 15. srpnja 2014. (u skladu s nacrtom ugovora od 14. siječnja 2014.) odnosno do 31. prosinca 2014. (u skladu s nacrtom ugovora s komentarima od 14. veljače 2014.) ne donese pozitivnu odluku.
According to the insolvency administrators, the fact that none of the two bidders that submitted a qualified confirmatory offer met fully the requirement of a secured financing (guarantee regarding the price amount or payment of that amount to an escrow account), and that the sellers had therefore allegedly waived that requirement de facto, without having informed complainant 3, is no proof of an non-transparent process.
Stečajni upravitelji smatraju da okolnost da nijedan od dvaju ponuditelja koji su dostavili prihvatljivu ponudu nije u cijelosti ispunio zahtjev u pogledu osiguranog financiranja (garancija za plaćanje kupovne cijene ili plaćanje kupovne cijene na uvjetni račun) i da su prenositelji stoga od tog zahtjeva praktički odustali, a da o tome nisu obavijestili trećeg podnositelja pritužbe, nije dokaz o netransparentnosti postupka.
Complainant 3 was not affected because it did not submit any confirmatory offer with proof of financing.
Budući da treći podnositelj pritužbe nije dostavio konačnu ponudu s dokazom o financiranju, to se nije odnosilo na njega.
Informing all bidders about the alleged waiver would not influence the tender process.
Obavješćivanje svih ponuditelja o navodnom odustajanju ne bi utjecalo na natječajni postupak.
Moreover, the waiver is not a causal for the non-submission of financing confirmations by complainant 3, and it corresponds to the behaviour of a hypothetical private seller.
Osim toga, odustajanje nije bilo uzrok činjenice da treći podnositelj pritužbe nije dostavio potvrdu o financiranju te to odgovara ponašanju hipotetskog privatnog prenositelja.
The insolvency administrators argue that the measures taken by the insolvency administrators or the committee of creditors are not imputable to the State, and that no advantage to Capricorn is evident as the sellers implemented the selection process according to the standard of an operator acting on market conditions.
Stečajni upravitelji ističu da se mjere stečajnih upravitelja i odbora vjerovnika nisu mogle pripisati državi te da se ne može utvrditi stavljanje grupe Capricorn u povoljniji položaj jer su prenositelji proveli postupak odabira u skladu s načelima gospodarskih subjekata u tržišnom gospodarstvu.
Finally, as regards the claim that Capricorn did not provide a fully financed offer because it failed to pay the second instalment of the purchase price, and that there may be further aid to Capricorn because, subsequently to the above, the financing conditions for the acquisition of the Nürburgring assets were changed to the benefit of Capricorn, the German authorities argue:
U pogledu tvrdnje da Capricorn nije dostavio ponudu za koju je financiranje osigurano u cijelosti jer nije platio drugu ratu kupovne cijene te da je možda na temelju izmijenih uvjeta financiranja za stjecanje imovine Nürburgringa u korist grupe Capricorn primio dodatne potpore Njemačka navodi sljedeće argumente:
there was no benefit for Capricorn, since the second instalment was rescheduled with interest of 8 % and pledges (see footnote 72);
Capricorn time nije primio nikakvu prednost jer je druga tranša refinancirana uz kamatnu stopu od 8 % i kolateral u stvarima (vidjeti bilješku 72.);
there is no State aid involved in the second payment's rescheduling since the decision for the latter is not imputable to the State, because the second payment's rescheduling was decided solely by the insolvency administrator, without the involvement of the Land;
refinanciranje druge tranše ne sadržava državnu potporu jer se odluka o refinanciranju ne može pripisati državi, nego su je donijeli isključivo stečajni upravitelji bez uključivanja savezne pokrajine;
and (c) there was no deviation from the rules set by the sellers and the process letter given to the bidders, because in the bidding procedure the sellers made no fixed requirements to the bidders regarding purchase price instalments before closing, therefore also a possible request of a bidder to replace cash collaterals by other valuable collaterals to secure the purchase price would have had no impact on the evaluation of the bids.
nije bilo odstupanja od pravila koja su utvrdili prenositelji i od procesnog pisma koje je dostavljeno ponuditeljima jer prenositelji u natječajnom postupku nisu utvrdili nikakve uvjete u pogledu tranši kupovne cijene prije sklapanja posla tako da moguća želja nekog ponuditelja da kolateral u novcu za kupovnu cijenu zamijeni drugim vrijednim kolateralima ne bi utjecala na ocjenu ponuda.
According to the insolvency administrators, the complaint should be refused as unjustified.
Stečajni upravitelji smatraju da je pritužbu potrebno odbiti kao neosnovanu.
The unsubstantiated hints of complainant 3 regarding financing are not compatible with the behaviour of a prudent market player or insolvency administrator.
Nepotkrijepljene aluzije trećeg podnositelja pritužbe u pogledu financiranja nisu u skladu s ponašanjem razboritog sudionika na tržištu ili stečajnog upravitelja.
COMPLAINT FROM MR MEYRICK COX (COMPLAINANT 4)
PRITUŽBA GOSPODINA MEYRICKA COXA (ČETVRTI PODNOSITELJ PRITUŽBE)
Complainant 4 claims that Capricorn was awarded the contract not for the most economically advantageous offer, but because it is a German undertaking and the sellers did not want to sell to a private equity led consortium.
Četvrti podnositelj pritužbe navodi da grupi Capricorn ugovor nije dodijeljen za ekonomski najpovoljniju ponudu, nego jer se radi o njemačkom poduzetniku i jer prenositelji nisu htjeli prodavati konzorciju kojim upravlja holding društvo.
It further alleges that the offer from Capricorn was lower than the offer from [Bidder 2] across multiple criteria.
On, nadalje, tvrdi da je Capricorn dostavio prema brojnim kriterijima nižu ponudu od [drugog ponuditelja].
Specifically, complainant 4 claims that:
Četvrti podnositelj pritužbe posebno ističe sljedeće:
The financing of the offer from Capricorn was less secure than that of [Bidder 2] [128].
financiranje ponude grupe Capricorn manje je sigurno od financiranja ponude [drugog ponuditelja] [128];
[Bidder 2]'s offer foresaw higher up-front payments [129].
u ponudi [drugog ponuditelja] predviđena su veća plaćanja unaprijed [129];
The execution risk was higher in case of Capricorn than in case [Bidder 2]'s offer would be accepted [130].
rizik provedbe u slučaju grupe Capricorn veći je nego u slučaju prihvaćanja ponude [drugog ponuditelja] [130];
[Bidder 2] has more experience and capability than Capricorn [131].
[drugi ponuditelj] ima više iskustva i veće kvalifikacije od grupe Capricorn [131];
[Bidder 2] will invest further EUR 25 million in the Nürburgring with a higher probability than Capricorn.
vjerojatnost dodatnog ulaganja u Nürburgring od 25 milijuna EUR u slučaju [drugog ponuditelja] veća je nego u slučaju grupe Capricorn;
The bidders were treated differently in the tender process and that Capricorn was given better treatment in the process [132].
s ponuditeljima se u natječajnom postupku različito postupalo, s grupom Capricorn bolje se postupalo [132].
Complainant 4 also claims that Capricorn failed to pay the second instalment of the purchase price that was due at the end of July and that the EUR 25 million as well as the 8 % interest rate penalty for late payment were waived in favour of Capricorn, resulting in further State aid in favour of Capricorn.
Četvrti podnositelj pritužbe nadalje tvrdi da Capricorn nije platio drugu ratu kupovne cijene koja dospijeva krajem srpnja. Odustajanjem od ugovorne kazne od 25 milijuna EUR predviđene za nepodmirena plaćanja i zateznih kamata od 8 % grupi Capricorn dodijeljene su dodatne državne potpore.
According to complainant 4, the above also raise questions around the information provided by KPMG and the insolvency administrators to the Creditors Committee in the context of the tender procedure, and demonstrate that Capricorn's financial ability was not properly presented.
Zbog toga se javljaju i pitanja u pogledu informacija koje su dostavljene odboru vjerovnika KPMG-a i stečajnim upraviteljima u okviru natječajnog postupka te je potvrđeno da financijske mogućnosti grupe Capricorn nisu prikazane na ispravan način.
Furthermore, complainant 4 supports that there was never a signed agreement between […] and Capricorn for the latter's financing, but only a term sheet, therefore at the time of the creditors' committee, Capricorn had no funding agreed.
Osim toga, četvrti podnositelj pritužbe smatra da nikad nije potpisan sporazum o financiranju između društava […] i Capricorn, nego je postojalo samo pismo namjere, zbog čega Capricorn u trenutku održavanje sjednice odbora vjerovnika nije imao sporazum o financiranju.
Finally, complainant 4 concludes that the information put forward by him makes it clear that an advantage was granted to Capricorn in the sale of the Nürburgring assets, that that advantage stems from a decision that is inconsistent with the manner in which a commercial seller would have run the process and have assessed the bids against the award criteria, that such a commercial seller could not have concluded that the Capricorn bid was overall more economically advantageous than [Bidder 2]'s bid and that a new process needs to be run in which a consistent set of criteria are applied in order to provide for an open, fair and unconditional tender, a clear timetable is set out and adhered to, and the identity of the bidders is shielded from the creditors' committee.
Naposljetku, četvrti podnositelj pritužbe zaključuje da je na temelju informacija koje je dostavio jasno da je za Capricorn pri otuđenju imovine Nürburgringa nastala prednost, da je ta prednost nastala na temelju odluke koja nije spojiva s načinom na koji bi komercijalni prenositelj proveo taj postupak i ocjenjivao ponude na temelju kriterija dodjele, da takav komercijalni prenositelj ne bi došao do rezultata da je ponuda društva Capricorn, ukupno gledajući, ekonomski povoljnija od ponude [drugog ponuditelja] i da je potrebno pokrenuti novi postupak u kojem bi se s obzirom na otvoren, pošten i bezuvjetan natječajni postupak primijenio niz jedinstvenih kriterija, postavio i poštovao jasan vremenski plan, a identitet ponuditelja zaštitio bi se pred odborom vjerovnika.
The insolvency administrators state that complainant 4 as member of the [Bidder 2] consortium is affected only indirectly.
Stečajni upravitelji pojašnjavaju da četvrti podnositelj pritužbe kao član [drugog ponuditelja] nije izravno obuhvaćen.
Moreover, they propose to refute the complaint, because the tender process was open, transparent and unconditional, and the assets were sold to the bidder submitting an offer that leads to the highest proceeds.
Predlažu da se pritužba odbije jer je natječajni postupak bio otvoren, transparentan i bezuvjetan te je imovina prenesena na ponuditelja s najvećom ponudom u cilju najvećeg mogućeg povećanja ukupnih prihoda.
The insolvency administrators reject that the members of the creditors' committee agreed to the sale to Capricorn because the latter company is a German company and it is not a private equity led consortium.
Stečajni upravitelji smatraju da tvrdnja, da su članovi odbora vjerovnika bili suglasni s prijenosom na grupu Capricorn jer je riječ o njemačkom poduzetniku, a ne o konzorciju kojim upravlja holding društvo, nije točna.
According to the insolvency administrators, the bid from Capricorn leads to a substantially higher revenue from the sale in comparison to the bid from [Bidder 2], and there are no decisive differences in the transaction security of both bids that would justify the award to the substantially lower bid (for both bids the transaction security was satisfactory, but not the highest possible).
Prema navodima stečajnih upravitelja ponuda grupe Capricorn u odnosu na ponudu [drugog ponuditelja] dovodi do znatno većih prihoda iz prodaje. U pogledu sigurnosti transakcije između dviju ponuda nisu postojale odlučujuće razlike kojima bi se opravdalo dodjeljivanje ugovora znatno nižoj ponudi (kod obiju ponuda sigurnost transakcije bila je zadovoljavajuća, ali ne i na najvišoj razini).
In contrast, Mr Robertino Wild, shareholder of Capricorn, has provided significant securities, and the Capricorn's external financing was demonstrated by a business-usual financing confirmation of Deutsche Bank.
S druge strane, gospodin Robertino Wild, član grupe Capricorn, dostavio je sveobuhvatne kolaterale, a vanjsko financiranje grupe Capricorn potvrđeno je potvrdom o financiranju društva […] uobičajenom za taj sektor.
That financial confirmation was verified by the insolvency administrators, and they reported to the creditors' committee about the result of that verification, namely that the financial confirmation contains no unusual disclaimers or conditions.
Stečajni upravitelji ispitali su tu potvrdu o financiranju i izvijestili odbor vjerovnika o rezultatu svojeg ispitivanja, tj. o tome da potvrda o financiranju ne sadržava neuobičajene uvjete.