natgillin/translations-raw huggingface dataset:
Effect on trade between Member States
Stoga su pojmom državnih potpora obuhvaćene samo one mjere kojima se poduzetnici na selektivan način stavljaju u povoljniji položaj.
When aid granted by a Member State strengthens the position of an undertaking compared to other undertakings competing in intra-Union trade, the latter must be regarded as affected by that aid [27].
Od brisanja dugova korist će imati samo društvo BDZ Holding i njegova društva kćeri pa je ono stoga selektivno u smislu članka 107. stavka 1.
It is sufficient that the recipient of the aid competes with other undertakings on markets open to competition [28].
Ugovora.
In this case, the beneficiary provides services in competition with other undertakings providing transport services in the internal market and some of those services are cross-border.
Zaključak
Therefore, the selective economic advantage granted through the planned debt cancellation to BDZ Holding and its subsidiaries strengthens its economic position, as it will relieve the railway operator from debts incurred prior to 2007.
Zaključuje se da će se namjeravanim brisanjem dugova pružiti selektivna gospodarska prednost društvu BDZ Holding i njegovim društvima kćerima BDZ Passenger i BDZ Cargo.
Consequently BDZ Holding and its subsidiaries will be providing railway transport services in the internal market without bearing all of the investment and operating costs they incurred.
Narušavanje tržišnog natjecanja i učinak na trgovinu
Therefore, the Commission concludes that the planned debt cancellation is liable to affect trade between Member States.
Narušavanje tržišnog natjecanja
In the light of the foregoing, the Commission considers that the debt cancellation that Bulgaria plans to implement constitutes State aid within the meaning of Article 107(1) of the Treaty.
Pretpostavlja se da narušavanje tržišnog natjecanja u smislu članka 107. stavka 1.
LAWFULNESS OF THE AID
Ugovora nastupa čim država dodijeli financijsku prednost nekom poduzetniku u liberaliziranom sektoru u kojemu postoji ili bi moglo postojati tržišno natjecanje [22].
Pursuant to Article 108(3) of the Treaty, Member States must notify any plans to grant or alter aid, and must not put the proposed measures into effect until the notification procedure has resulted in a final decision.
U tom je pogledu Bugarska 2002. otvorila tržište željezničkog prijevoza tereta drugim domaćim prijevoznicima s poslovnim nastanom u Bugarskoj.
Since the debt cancellation in favour of BDZ Holding and its subsidiaries has not yet been implemented, the Commission considers that Bulgaria has respected the obligations flowing from Article 108(3) of the Treaty [29].
Tržište željezničkog prijevoza tereta Unije prvi je put otvoreno za tržišno natjecanje 15. ožujka 2003. na transeuropskoj željezničkoj mreži za prijevoz tereta primjenom prvog željezničkog paketa [23].
COMPATIBILITY OF THE AID
Drugim željezničkim paketom 1. siječnja 2006. liberaliziran je sav međunarodni prijevoz tereta, a 1. siječnja 2007. liberaliziran je nacionalni željeznički prijevoz tereta [24].
Since the debt cancellation constitutes State aid within the meaning of Article 107(1) of the Treaty, the Commission must assess whether that aid can be found compatible with the internal market.
Međutim, nekoliko država članica jednostrano je liberaliziralo svoja nacionalna tržišta prije tog datuma.
Article 107(3) of the Treaty provides for certain exemptions to the general rule set out in Article 107(1) of the Treaty that State aid is not compatible with the internal market.
Tržišni udio društva BDZ Cargo na bugarskom tržištu željezničkog prijevoza tereta iznosio je 2016. godine 43 %.
Article 107(3)(c) of the Treaty stipulates that: ‘aid to facilitate the development of certain economic activities or of certain economic areas, where such aid does not adversely affect trading conditions to an extent contrary to the common interest’, may be considered to be compatible with the internal market.
BDZ Cargo izravno se natječe s ostalim željezničkim prijevoznicima tereta na tom tržištu, kao što je navedeno u uvodnoj izjavi 15.
In this regard, Section 4 of the Railway guidelines provides a framework for assessing whether the Commission should declare aid to railway undertakings for the cancellation of debts compatible with the internal market pursuant to Article 107(3)(c) of the Treaty.
S obzirom na prijevoz putnika, od 1. siječnja 2010. trećim željezničkim paketom otvoreno je tržište za međunarodni prijevoz putnika [25].
The Commission agrees with Bulgaria as regards the applicability of Section 4 of the Railway Guidelines for assessing the compatibility of the debt cancellation.
Iako se to odnosi samo na međunarodne usluge, uključuje aktivnosti korisnika na tim linijama.
Indeed, according to point 54 of the Railway Guidelines, ‘In the light of Article 9 of [Council] Directive 91/440/EEC [30], the Commission also considers that, under certain circumstances, it should be possible to authorise [State] aid without financial restructuring if the cancellation concerns old debts incurred prior to the entry into force of Directive 2001/12/EC, which lays down the conditions for opening up the sector to competition.’
U svakom slučaju, kao što je Sud utvrdio u presudi u predmetu Altmark Trans, činjenica da je prijevozno poduzeće aktivno samo u jednoj državi članici ne isključuje mogućnost da se potporom narušava trgovina unutar Unije [26].
According to point 56 of the Railway Guidelines, in the case of Member States which acceded to the Union after the entry into force of Directive 2001/12/EC, the date of accession should be considered as the date from which that Directive applies to those Member States.
U tom pogledu treba napomenuti da je 1995. nekoliko država članica jednostrano otvorilo svoje tržište željezničkog prijevoza putnika i da se bilo kojom prednošću koja je dodijeljena željezničkom prijevozniku u jednoj državi članici može smanjiti mogućnost za konkurenta iz druge države članice da trguje na tom zemljopisnom tržištu.
The relevant date for the purposes of determining which pre-accession debt can be cancelled in compliance with the Railway Guidelines is, therefore, 1 January 2007.
Komisija stoga zaključuje da će ova mjera narušiti ili prijetiti da će narušiti tržišno natjecanje na unutarnjem tržištu.
Bulgaria claims that the planned debt cancellation complies with all the compatibility conditions laid down in the Railway Guidelines.
Učinci na trgovinu između država članica
Consequently, the Commission has to assess this claim.
Ako potpora koju dodijeli država članica ojača položaj pojedinog poduzeća u odnosu na druga konkurentna poduzeća u trgovini unutar Unije, smatra se da je ta potpora imala učinak na ta druga poduzeća [27].
Indeed, according to points 55 to 61 of the Railway Guidelines, aid to cancel debts incurred prior to Bulgaria's accession to the Union can be regarded as compatible with the internal market pursuant to Article 107(3)(c) of the Treaty if the following five cumulative conditions are met:
Dovoljno je da korisnik potpore bude konkurentan drugim poduzećima na tržištima otvorenima za konkurenciju [28].
Firstly, the aid must serve to offset clearly determined and individualised debts incurred prior to 15 March 2001, the date on which Directive 2001/12/EC entered into force.
U ovom slučaju korisnik pruža usluge natječući se na unutarnjem tržištu s drugim poduzetnicima koji pružaju prijevozne usluge, a neke su od tih usluga prekogranične.
Under no circumstances may the aid exceed the amount of these debts.
Komisija stoga zaključuje da bi planirano brisanje dugova moglo utjecati na trgovinu između država članica.
In cases where the Member States joined the Union after 15 March 2001, the relevant date is that of accession to the Union.
S obzirom na prethodno navedeno, Komisija smatra da brisanje dugova koje Bugarska namjerava provesti čini državnu potporu u smislu članka 107. stavka 1.
The logic of Article 9 of Directive 91/440/EEC, repeated in subsequent Directives, was to address a level of debt accumulated at a time when a decision to open the market at Community level had yet to be taken.
Ugovora.
Secondly, the debts concerned must be directly linked to the activity of rail transport or the activities of management, construction or use of railway infrastructure.
ZAKONITOST POTPORE
Thirdly, the cancellation of debts must be in favour of undertakings facing an excessive level of indebtedness which is hindering their sound financial management.
U skladu s člankom 108. stavkom 3.
The aid must be necessary to remedy this situation, insofar as the likely development of competition on the market would not allow them to rectify their financial situation within a foreseeable future.
Ugovora, države članice moraju prijaviti sve planove za dodjelu ili izmjenu potpora i ne smiju primjenjivati predložene mjere dok se postupak prijave ne okonča konačnom odlukom.
Fourthly, the aid must not go beyond what is necessary for the purpose.
Budući da brisanje dugova u korist društva BDZ Holding i njegovih društava kćeri još uvijek nije provedeno, Komisija smatra da je Bugarska poštovala obveze koje proizlaze iz članka 108. stavka 3.
Fifthly, cancellation of its debts must not give an undertaking a competitive advantage such that it prevents the development of effective competition on the market, for example by deterring outside undertakings or new players from entering certain national or regional markets.
Ugovora [29].
The aid must serve to offset clearly determined and individualised debts incurred prior to the accession of Bulgaria to the Union
SPOJIVOST POTPORE
The Railway Guidelines require that the debt(s) to be cancelled be clearly determined, individualised and, in the case of Bulgaria, incurred before its accession to the EU.
Budući da brisanje dugova čini državnu potporu u smislu članka 107. stavka 1.
It follows from the Railway Guidelines that aggregate or undetermined debt cannot be offset.
Ugovora, Komisija mora ocijeniti može li se ta potpora smatrati spojivom s unutarnjim tržištem.
Offsetting would not be permitted, for instance, if generic items of debt, e.g. ‘debt to all suppliers’ were planned to be cancelled.
U članku 107. stavku 3.
Likewise, offsetting would not be permitted either if aggregate items of debt towards a single creditor, e.g. ‘total liabilities vis-à-vis a particular bank’ stemming from various components such as overdrafts, guarantees or long term loans were planned to be cancelled altogether without distinction.
Ugovora predviđena su određena izuzeća od općeg pravila utvrđenog člankom 107. stavkom 1.
Bulgaria envisages cancelling BGN 223,45 million (EUR 114,25 million) of BDZ Holding's debt.
Ugovora u skladu s kojim državna potpora nije spojiva s unutarnjim tržištem.
As described in recital 35 and Table 2, the amount of BGN 223,45 million subject to cancellation stems from financial obligations incurred prior to the accession of Bulgaria to the Union and which were outstanding at the date of accession or from subsequent debt incurred by BDZ Holding which substituted or refinanced debt incurred prior to the accession of Bulgaria to the Union, as documented by the Consolidated financial Statement of BDZ Holding for 2006, and/or information on the relevant loan payments.
U članku 107. stavku 3. točki (c) Ugovora propisano je sljedeće: „potpore za olakšavanje razvoja određenih gospodarskih djelatnosti ili određenih gospodarskih područja ako takve potpore ne utječu negativno na trgovinske uvjete u mjeri u kojoj bi to bilo suprotno zajedničkom interesu” može se smatrati spojivima s unutarnjim tržištem.
Each of the debts which are planned to be cancelled can be individualised as stemming from loan contracts (financial creditors KfW IPEX Bank, EBRD, IBRD) or from regular contractual relations with specific suppliers of rail infrastructure services (NRIC) or electricity services (NEC AD) prior to accession.
U tom se pogledu u odjeljku 4.
The same is true as regards BDZ Holding's individualised debt obligations towards bond holders of the bond issue ISIN BG2100032072 from 19 November 2007 and the Ministry of Finance, when the latter became creditor of BDZ Holding (see recitals 35 and 36 and Table 2).
Smjernica za željeznice daje okvir za ocjenu treba li Komisija proglasiti potporu željezničkim prijevoznicima za brisanje dugova spojivom s unutarnjim tržištem u skladu s člankom 107. stavkom 3. točkom (c) Ugovora.
Both debts are well individualised and also the proceeds were used to refinance well specified pre-accession debt which BDZ Holding could not meet and settle with its own resources.
Komisija se slaže s Bugarskom u pogledu primjenjivosti odjeljka 4.
It follows that the amounts currently outstanding constitute, in economic terms, a mere carry-over of the past legacy debt.
Smjernica za željeznice na ocjenjivanje spojivosti brisanja dugova.
Finally, since the amount of BGN 223,45 million debt planned to be cancelled stems from clearly determined and individualised debts incurred prior to the accession of Bulgaria to the EU, it is not necessary to take position on whether other debts including provisions and trade obligations of BDZ Holding also identified by Bulgaria as pre-accession debt (Table 1 and recitals 35 and 20), and which amount to the difference between BGN 806,7 million and BGN 223,45 million, could also be lawfully cancelled under the Railway Guidelines.
Naime, u skladu s točkom 54.
The debt amounting to that difference is excluded from the scope of the present decision.
Smjernica za željeznice, „Komisija s obzirom na članak 9.
It is therefore concluded that the measure at stake aims at cancelling BGN 223,45 million of clearly determined and individualised debts incurred prior to the accession of Bulgaria to the Union.
Direktive Vijeća 91/440/EEZ [30] smatra i da bi u određenim okolnostima trebalo biti moguće odobriti [državnu] potporu bez financijskog restrukturiranja ako se brisanje odnosi na stare dugove nastale prije stupanja na snagu Direktive 2001/12/EZ kojom se utvrđuju uvjeti za otvaranje tog sektora za tržišno natjecanje”.
The debts concerned must be directly linked to the activity of rail transport or the activities of management, construction or use of railway infrastructure.
U skladu s točkom 56.
Bulgaria stated that all the debts incurred by BDZ Holding were directly linked to the activity of passenger and freight rail transport (see recital 39).
Smjernica za željeznice, u slučaju država članica koje su pristupile Uniji nakon stupanja na snagu Direktive 2001/12/EZ, kao datum od kojeg se ta Direktiva primjenjuje na te države članice trebalo bi smatrati datum njihova pristupanja.
The Commission observes that the debts to be cancelled were indeed incurred to finance the renewal and repair of rolling stock, such as the purchase of diesel and electric multiple units or modernisation of cargo wagons owned by the company.
Stoga je relevantan datum za potrebe utvrđivanja dugova iz pretpristupnog razdoblja koji se mogu brisati, u skladu sa Smjernicama za željeznice, 1. siječnja 2007. godine.
Alternatively, the debts such as the outstanding obligations towards NRIC also financed the provision of BDZ Holding's railway services.
(94) Bugarska tvrdi da je planirano brisanje dugova u skladu sa svim uvjetima spojivosti utvrđenima Smjernicama za željeznice.
Those activities are the core business of BDZ Holding and its subsidiaries and are directly linked to the activity of rail transport.
Stoga Komisija mora ocijeniti tu tvrdnju.
Therefore, the Commission considers that the debts concerned are directly linked to the activity of rail transport.
Naime, u skladu s točkama 55. – 61.
The cancellation of debts must be in favour of undertakings facing an excessive level of indebtedness which is hindering their sound financial management.
Smjernica za željeznice, potpora za brisanje dugova nastalih prije pristupanja Bugarske Uniji može se smatrati spojivom s unutarnjim tržištem u skladu s člankom 107. stavkom 3. točkom (c) Ugovora ako je kumulativno ispunjeno sljedećih pet uvjeta:
Excessive indebtedness of BDZ Holding, which is hindering its sound financial management
prvo, potpora mora biti namijenjena vraćanju jasno utvrđenih i individualiziranih dugova nastalih prije 15. ožujka 2001., tj. datuma na koji je Direktiva 2001/12/EZ stupila na snagu.
Bulgaria asserted that BDZ Holding qualified as insolvent and over-indebted according to the applicable Bulgarian legislation and fulfilled all the criteria laid down in Bulgarian legislation to initiate insolvency proceedings against it.
Potpora nikako ne smije biti viša od iznosa tih dugova.
This is a valid indication of excessive indebtedness.
U slučajevima u kojima su države članice pristupile Uniji nakon 15. ožujka 2001. relevantan je datum njihova pristupanja Uniji.
Furthermore, Bulgaria stated that the company had not been able to meet its financial obligations because of its indebtedness.
Svrha članka 9.
The total debts of BDZ Holding amounted to BGN 806,7 million on 31 December 2006 and accounted for 78 % of BDZ Holding's total capital (equity and debts), with a Debt-to-Equity Ratio of 4.
Direktive 91/440/EEZ, koji je preuzet u kasnijim direktivama, bila je otkloniti razinu duga akumuliranog u doba kad odluka o otvaranju tržišta na razini Zajednice još nije bila donesena;
The financial situation of BDZ Holding deteriorated considerably since 2007.
drugo, predmetni dugovi moraju biti izravno povezani s djelatnošću željezničkog prijevoza ili djelatnostima upravljanja željezničkom infrastrukturom, njezinom izgradnjom ili upotrebom.
As from 2011, BDZ Holding's Debt-to-Equity Ratio increased above 7,5 (9), to reach 14 in 2012, 15 in 2013, – 209 in 2014 and – 33 in October 2015 [31].
treće, dugovi se moraju brisati u korist poduzeća koja su prekomjerno zadužena što onemogućuje dobro financijsko upravljanje njima.
Moreover, in October 2015, BDZ Holding's outstanding obligations, namely BGN 499,1 million (EUR 255 million) represented 86 % of the book value of the assets amounting to BGN 582,4 million (EUR 298 million).
Potpora mora biti nužna za popravljanje tog stanja ako vjerojatan razvoj natjecanja na tržištu ne bi tim poduzećima omogućio da saniraju svoje financijsko stanje u doglednoj budućnosti.
The Commission further observes that despite the fact that BDZ Holding repaid BGN 724 million (EUR 370 million) of outstanding debts during the period from 1 January 2007 until 28 September 2016, the company has not been able to fully meet its financial obligations.
četvrto, potpora ne smije prelaziti granice onoga što je nužno za postizanje njezine svrhe.
Due to its overdue obligations towards international creditors, on 20 July 2015, the High Court of Justice in London ordered BDZ to pay EUR 66,7 million (BGN 30,4 million) with 8 % per annum in late payment interest [32].
peto, brisanjem njegovih dugova poduzeću se ne smije dati konkurentska prednost kojom se sprječava razvoj učinkovitog tržišnog natjecanja, primjerice, odvraćanjem vanjskih poduzeća i novih subjekata od ulaska na određena nacionalna ili regionalna tržišta.
Moreover, considering the excessive level of indebtedness of BDZ Holding, without the debt cancellation, the company would have serious difficulties in meeting its obligations and could eventually be liquidated.
Potpora mora biti namijenjena vraćanju jasno utvrđenih i individualiziranih dugova nastalih prije pristupanja Bugarske Uniji
On the basis of the foregoing, the Commission considers that BDZ Holding is facing an excessive level of indebtedness which is hindering its sound financial management.
U Smjernicama za željeznice zahtijeva se da dugovi koje treba brisati budu jasno utvrđeni, individualizirani i, u slučaju Bugarske, da su nastali prije njezina pristupanja EU-u.
Necessity of the aid
Iz Smjernica za željeznice proizlazi da se ne može prebijati ukupni ili neutvrđen dug.
In addition, the aid must be necessary to remedy the situation of excessive indebtedness, insofar as the likely development of competition on the market would not allow BDZ Holding and its subsidiaries to rectify their financial situation within a reasonable period.
Prijeboj ne bi bio dozvoljen ako bi se planiralo brisati, primjerice, općenito određene stavke duga, npr. „dug prema svim dobavljačima”.
Due to its indebtedness, BDZ Holding has not been able to meet all its financial obligations and has a backlog in investments into modernisation of its rolling stock.
Isto tako, ne bi bilo dozvoljeno prebijanje ni ako je planirano potpuno brisanje ukupnih stavki duga prema jednom vjerovniku bez razlike u pogledu sastavnica duga, npr. „ukupne obveze prema određenoj banci” koje proizlaze iz različitih sastavnica duga kao što su prekoračenja po transakcijskim računima, jamstva ili dugoročni zajmovi.
Due to the backlog in investments into the modernisation of the rolling stock and maintenance, the fleet of the company is over-aged and partially obsolete.
Bugarska predviđa brisanje duga društva BDZ Holding u iznosu od 223,45 milijuna BGN (114,25 milijuna EUR).
In this regard, the Commission observes that 82 % of BDZ Passenger's carriages are older than 20 years and 74 % of its locomotives are older than 25 years.
Kao što je opisano u uvodnoj izjavi 35. i tablici 2., iznos od 223,45 milijuna BGN na koji se odnosi brisanje proizlazi iz financijskih obveza nastalih prije pristupanja Bugarske Uniji i koje su bile dospjele na datum pristupanja ili iz kasnijeg duga društva BDZ Holding kojim je zamijenjen ili refinanciran dug nastao prije pristupanja Bugarske Uniji, kao što je dokumentirano u konsolidiranom financijskom izvještaju društva BDZ Holding za 2006., i/ili informacijama o relevantnim plaćanjima zajmova.
In 2015, approximately 50 % of BDZ Cargo's locomotives were either under repair or not operational.
Svaki dug koji se planira brisati može se individualizirati kao dug koji je nastao prije pristupanja i koji proizlazi iz ugovora o zajmu (financijski vjerovnici KfW IPEX-Bank, EBOR, IBRD) ili iz redovitih ugovornih odnosa s konkretnim pružateljima usluga željezničke infrastrukture (NRIC) ili opskrbe električnom energijom (NEC AD).
Similarly, approximately 51 % of the freight wagons of BDZ Cargo were not operational and required repair in 2015.
Isto vrijedi i u pogledu individualiziranih dužničkih obveza društva BDZ Holding prema imateljima obveznica iz izdanja obveznica s oznakom ISIN BG2100032072 od 19. studenoga 2007. i prema Ministarstvu financija nakon što je ono postalo vjerovnikom društva BDZ Holding (vidjeti uvodne izjave 35. i 36. te tablicu 2.).
Without the aid, BDZ Holding would not be able to repay the still outstanding debts incurred prior to Bulgaria's accession to the Union, nor would it be able to use its own resources to invest into the modernisation of its rolling stock.
Oba duga dobro su individualizirana, a i prihod od njih upotrijebljen je za refinanciranje jasno utvrđenog duga iz pretpristupnog razdoblja koji društvo BDZ Holding nije moglo podmiriti iz vlastitih sredstava.
By way of illustration, based on the company's reported earnings in 2016 (BGN 336,2 million), a one-off price and/or tariff increase of 66 % on average would be needed, other things being equal, to generate the BGN 223,45 million operating revenue in the short term which is necessary to repay the debt planned to be cancelled.
Iz toga proizlazi da ti iznosi trenutačno nepodmirenog duga čine, u gospodarskom smislu, samo prenesene stare zaostale dugove.
However, in the meantime, BDZ Holding's subsidiaries only operate on a geographic area which is entirely eligible for regional aid pursuant to Article 107(3)(a) of the Treaty.
Konačno, s obzirom na to da dug u iznosu od 223,45 milijuna BGN koji se planira brisati proizlazi iz jasno utvrđenih i individualiziranih dugova nastalih prije pristupanja Bugarske EU-u, nije potrebno zauzeti stajalište o tome mogu li se zakonito, na temelju Smjernica za željeznice, brisati i ostali dugovi, uključujući rezervacije i trgovinske obveze, društva BDZ Holding za koje je Bugarska isto utvrdila da se radi o dugu iz razdoblja prije pristupanja (tablica 1. i uvodne izjave 35. i 20.) i koji čine razliku između iznosa od 806,7 milijuna BGN i 223,45 milijuna BGN.