natgillin/translations-raw huggingface dataset:
To that end, the Commission must determine whether, in performing this transaction, the IDA complied with the private creditor rule as defined in points 188 and 189.
V ta namen mora Komisija ugotoviti, ali je agencija IDA pri tej transakciji ravnala v skladu z merilom zasebnega upnika, kot je opredeljeno v točkah 188 in 189.
The Commission also notes that the IDA had no expectation of finding a buyer other than […] for the shares it had obtained in PZL Wrocław as a result of the debt-for-equity swap (see point 210).
Komisija še ugotavlja, da agencija IDA ni pričakovala, da bo našla drugega kupca kot […] za delnice, ki jih je na podlagi zamenjave terjatev v lastniške deleže pridobila v podjetju PZL Wrocław (glej točko 210).
In order to ensure that the deal was successful, the IDA had to ensure that it could settle the liabilities of the public creditors, in so far as they had mortgages on the assets of PZL Wrocław, as otherwise it would not have been in a position to honour the commitment to transfer all assets free from collateral.
Agencija je morala za zagotovitev uspešnega posla zagotoviti, da lahko poravna obveznosti do javnih upnikov, če so imeli hipoteke na sredstva podjetja PZL Wrocław, saj sicer ne bi mogla izpolniti zaveze za prenos vseh nezavarovanih sredstev.
Moreover, if the sale of PZL Wrocław - which was the event on which restructuring of public liabilities by way of partial repayments was based - did not proceed, the tax authorities would enforce their claims pursuant to the Tax Code (see point 144).
Če poleg tega prodaja podjetja PZL Wrocław – ki je bila dogodek, na katerem je temeljilo prestrukturiranje javnopravnih obveznosti z delnimi poplačili – ne bi bila izvedena, bi davčni organi svoje terjatve uveljavili na podlagi davčnega zakonika (glej točko 144).
In addition, in view the financial situation of PZL Wrocław, the failure of the sale agreement would lead to PZL Wrocław's bankruptcy (see point 52).
Poleg tega bi neuspeh sporazuma o prodaji glede na finančno stanje podjetja PZL Wrocław povzročil njegov stečaj (glej točko 52).
Therefore the Commission concludes that the only alternative to accepting the de facto waiver of PLN 17,2 million was to put PZL Wrocław and PZL Hydral into liquidation.
Zato Komisija ugotavlja, da je bila likvidacija podjetij PZL Wrocław in PZL Hydral poleg sprejetja dejanskega odpisa v višini 17,2 milijona PLN edina možnost.
In the event of bankruptcy, the study concludes that ordinary creditors will not receive anything, as many of the assets are encumbered by pledges and mortgages and, in addition, the tax authorities will be able to enforce their claims against PZL Wrocław (see points 143 et seq.).
V študiji je ugotovljeno, da običajni upniki v primeru stečaja ne bodo prejeli ničesar, saj je veliko sredstev obremenjenih z zastavnimi pravicami in hipotekami, poleg tega pa bodo davčni organi lahko uveljavili svoje terjatve do podjetja PZL Wrocław (glej točko 143 in naslednje).
The Commission has confirmed this information by examining the financial reports of PZL Wrocław and by analysing implementation of Polish law, and has reached the conclusion that Ernst&Young's assessment is justified.
Komisija je to informacijo potrdila, ko je preučila finančna poročila podjetja PZL Wrocław in analizirala izvajanje poljske zakonodaje, pri čemer je sklenila, da je ocena družbe Ernst&Young utemeljena.
As a result, the Commission considers that the value of the ordinary pledge on receivables which secures the 2008 loan is without any value in a liquidation scenario.
Zato Komisija meni, da je vrednost običajnih zastavnih pravic na denarne terjatve, s katerimi je zavarovano posojilo iz leta 2008, pri scenariju likvidacije ničelna.
Furthermore, the pledge on […]% of the shares is without any value in the liquidation scenario, as the value of the shares themselves is nil.
Tudi vrednost zastavne pravice na […] % delnic je pri scenariju likvidacije ničelna, saj so brez vrednosti tudi same delnice.
Therefore, in order to establish what the IDA would obtain in a liquidation scenario, it is necessary to estimate the profits it could expect from selling the items on which it has registered pledges.
Zato je za ugotovitev, kaj bi agencija IDA pridobila pri scenariju likvidacije, treba oceniti dobiček, ki bi ga lahko pričakovala od prodaje predmetov, na katerih ima registrirane zastavne pravice.
The supplement to the Ernst&Young study notes that the machinery on which the IDA had pledges for the 2007 loan had a book value in 2007 of PLN 5,5 million, whereas the machinery on which it had pledges for the 2008 loan had a book value of PLN 2,8 million in 2008.
V dodatku k študiji družbe Ernst&Young je navedeno, da je knjigovodska vrednost strojev, na katerih je imela agencija IDA zastavne pravice za posojilo iz leta 2007, v letu 2007 znašala 5,5 milijona PLN, medtem ko je knjigovodska vrednost strojev, na katerih je imela zastavne pravice za posojilo iz leta 2008, v letu 2008 znašala 2,8 milijona PLN.
In the supplement to the Ernst&Young study the assessment of the liquidation value of the pledges registered in favour of the IDA was based on the book value of the assets entered in PZL Wrocław's audited financial reports (see points 151 and 152) as at 31 January 2010, i.e. PLN 2,1 million.
Ocena likvidacijske vrednosti registriranih zastavnih pravic agencije IDA je v dodatku k študiji družbe Ernst&Young temeljila na knjigovodski vrednosti sredstev, vpisanih v revidirana finančna poročila podjetja PZL Wrocław (glej točki 151 in 152) na dan 31. januarja 2010, tj. 2,1 milijona PLN.
The Commission considers that the book value of the fixed movable assets (serving as a pledge for the 2007 and 2008 loans), as entered in the audited financial report, is an appropriate starting point for assessing their liquidation value.
Komisija meni, da je knjigovodska vrednost premičnih osnovnih sredstev (ki so bila uporabljena kot zastavna pravica za posojili iz let 2007 in 2008), kot je bila vpisana v revidirano finančno poročilo, ustrezno izhodišče za oceno njihove likvidacijske vrednosti.
The Commission notes first that the large difference between the book value and the net asset value which the 2008 study evaluating PZL Wrocław had found was due to a significant increase in the value of real estate.
Komisija najprej ugotavlja, da je velika razlika med knjigovodsko vrednostjo in čisto vrednostjo sredstev, ugotovljena v študiji iz leta 2008 o vrednotenju podjetja PZL Wrocław, posledica znatnega povečanja vrednosti nepremičnin.
No correction was made for the value of machinery.
Vrednost strojev ni bila popravljena.
Second, the Commission notes that, in view of the short period of time between the establishment of the pledge and the assessment, there are no other indications that the book value does not reflect the conservatively estimated value of the machinery.
Drugič, Komisija ugotavlja, da glede na kratko obdobje med vzpostavitvijo zastavne pravice in oceno ni nobenih drugih znakov, da se v knjigovodski vrednosti ne kaže konservativno ocenjena vrednost strojev.
The supplement to the Ernst&Young study argues that in the event of liquidation, these assets would have to be sold in a fire sale at a 50 % reduction, and that therefore the expected value is PLN 1053196,36.
V dodatku k študiji družbe Ernst&Young je poudarjeno, da bi bilo treba ta sredstva v primeru likvidacije prisilno prodati po 50 % nižji ceni in da je pričakovana vrednost torej 1053196,36 PLN.
The Commission acknowledges that assets such as machinery that are put up for sale in the context of liquidation are usually sold below their book value.
Komisija priznava, da se sredstva, kot so stroji, ki se prodajo v postopku likvidacije, običajno prodajo pod knjigovodsko vrednostjo.
The Commission considers that the 50 % discount is justified for the reasons stated by Ernst&Young, and described in point 147 above.
Komisija meni, da je 50-odstotno znižanje upravičeno zaradi razlogov, ki jih je navedla družba Ernst&Young in so opisani v točki 147 zgoraj.
It considers in particular that the evaluation of their hypothetical value in the event of bankruptcy was done using a methodology which can be considered appropriate for the purpose of determining the realisable value of claims vis-à-vis borrowers under threat of bankruptcy, taking account of the specific type of machinery to be sold, the contingency of sales on a specific customer (the Ministry of Defence) which is cutting its spending in the light of the need to adapt to the downturn in tax revenue resulting from the crisis.
Zlasti meni, da je bila ocena njihove hipotetične vrednosti v primeru stečaja izvedena na podlagi metodologije, ki jo je mogoče šteti za primerno za določitev iztržljive vrednosti terjatev do posojilojemalcev, ki jim grozi stečaj, ob upoštevanju posebne vrste strojev, ki se prodajajo, ter nepredvidljivosti prodaje posebni stranki (ministrstvu za obrambo), ki zmanjšuje svoje izdatke glede na potrebo, da se zaradi krize prilagodi na upad davčnih prihodkov.
The Commission therefore concludes that, on the basis of the information available to it when the present decision was adopted, the bankruptcy value of the IDA's outstanding loans was PLN 1053196,36.
Zato Komisija na podlagi informacij, ki so ji bile na voljo ob sprejetju tega sklepa, ugotavlja, da je bila stečajna vrednost neodplačanih posojil agencije IDA 1053196,36 PLN.
In the sale scenario, the value of the IDA's outstanding loans was higher, as […] offered to pay IDA [> PLN 1053196,36].
Pri scenariju prodaje je bila vrednost neodplačanih posojil agencije IDA višja, saj je […] agenciji ponudil znesek v višini [> 1053196,36 PLN].
The Commission concludes that a private creditor placed in the situation of the IDA would have accepted to waive PLN 17,2 million, because it could not reasonably expect to recover more of its claims under bankruptcy proceedings.
Komisija ugotavlja, da bi zasebni upnik v enakem položaju kot agencija IDA pristal na odpis v vrednosti 17,2 milijona PLN, saj v stečajnem postopku ne bi mogel razumno pričakovati uveljavitve večjega deleža svojih terjatev.
Therefore, on that basis, the Commission is satisfied that the behaviour of the IDA with regard to the 2010 debt-for-equity swap is in line with the private investor principle and that the debt-for-equity swap does not contain state aid within the meaning of Article 107(1) of the TFEU.
Zato je Komisija na podlagi tega prepričana, da je ravnanje agencije IDA v zvezi z zamenjavo terjatev v lastniške deleže v letu 2010 v skladu z načelom zasebnega vlagatelja ter da ta zamenjava ne vsebuje elementov državne pomoči v smislu člena 107(1) PDEU.
The Commission notes that the formal investigation into the capital injections of PLN 113 million notified but subsequently withdrawn by the Polish authorities no longer serves any purpose pursuant to Article 8 of the Procedural Regulation.
Komisija ugotavlja, da formalna preiskava dokapitalizacije v vrednosti 113 milijonov PLN, ki so jo poljski organi priglasili in nato umaknili, ni več smiselna na podlagi člena 8 postopkovne uredbe.
With regard to the non-enforcement of public creditors’ liabilities and their eventual settlement, the Commission finds that the public creditors acted in line with the private creditor rule.
Kar zadeva neizterjavo obveznosti javnih upnikov in njihovo morebitno poravnavo, Komisija ugotavlja, da so javni upniki ravnali v skladu z merilom zasebnega upnika.
Consequently, the behaviour of the public creditors does not involve state aid within the meaning of Article 107(1) of the TFEU.
Zato ravnanje javnih upnikov ne vsebuje elementov državne pomoči v smislu člena 107(1) PDEU.
The Commission finds that the planned partial debt-for-equity swap by the Industrial Development Agency within the framework of the Plan, as amended, does not constitute state aid in the meaning of Article 107(1) of the TFEU as it complies with the private creditor rule.
Komisija ugotavlja, da delna zamenjava terjatev v lastniške deleže, ki jo je načrtovala Agencija za industrijski razvoj v okviru načrta prestrukturiranja, kakor je bil spremenjen, ne pomeni državne pomoči v smislu člena 107(1) PDEU, saj je v skladu z merilom zasebnega upnika.
The Commission also considers that the 2007 loan and the 2008 loan in favour of PZL Wrocław do not constitute state aid within the meaning of Article 107(1) of the TFEU as they comply with the private investor principle,
Komisija prav tako meni, da posojili iz let 2007 in 2008 za podjetje PZL Wrocław ne pomenita državne pomoči v smislu člena 107(1) PDEU, saj sta v skladu z načelom zasebnega vlagatelja –
The Commission has decided to close the formal investigation procedure under Article 108(2) of the Treaty on the Functioning of the European Union in respect of the capital injections of PLN 113 million, noting that Poland has withdrawn its notification and will not pursue this aid project further.
Komisija je sklenila, da konča formalni postopek preiskave na podlagi člena 108(2) Pogodbe o delovanju Evropske unije v zvezi z dokapitalizacijo v vrednosti 113 milijonov PLN, saj je ugotovila, da je Poljska umaknila priglasitev in ne bo nadaljevala tega projekta pomoči.
The partial non-enforcement from 1998 to 2007 of the claims that the Polish public authorities had against PZL Hydral and the settlement of these debts from 2007 to 2010 does not constitute aid within the meaning of Article 107(1) of the Treaty on the Functioning of the European Union.
Delna neizterjava terjatev poljskih javnih organov do podjetja PZL Hydral v obdobju 1998–2007 in poravnava teh dolgov v obdobju 2007–2010 ne pomenita pomoči v smislu člena 107(1) Pogodbe o delovanju Evropske unije.
The loans granted by the IDA to PZL Wrocław in 2007 (PLN 12,5 million) and 2008 (PLN 4 million) do not constitute aid within the meaning of Article 107(1) of the Treaty on the Functioning of the European Union.
Posojili, ki ju je agencija IDA odobrila podjetju PZL Wrocław v letu 2007 (12,5 milijona PLN) in letu 2008 (4 milijone PLN), ne pomenita pomoči v smislu člena 107(1) Pogodbe o delovanju Evropske unije.
The subsequent partial write-off of these loans concerning PLN 17,2 million, carried out in the form of a debt-for-equity swap, does not constitute aid within the meaning of Article 107(1) of the Treaty on the Functioning of the European Union.
Poznejši delni odpis teh posojil v višini 17,2 milijona PLN, izveden v obliki zamenjave terjatev v lastniške deleže, ne pomeni pomoči v smislu člena 107(1) Pogodbe o delovanju Evropske unije.
Done at Brussels, 4 August 2010.
V Bruslju, 4. avgusta 2010
OJ C 324, 19.12.2008, p. 17.
UL C 324, 19.12.2008, str. 17.
OJ C 158, 18.6.2010, p. 9.
UL C 158, 18.6.2010, str. 9.
Journal of Laws No 145, item 1625, as amended.
Uradni list št. 145, točka 1625, kakor je bil spremenjen.
Journal of Laws No 122, item 1320, as amended.
Uradni list št. 122, točka 1320, kakor je bil spremenjen.
Journal of Laws No 116, item 1090, as amended.
Uradni list št. 116, točka 1090, kakor je bil spremenjen.
Journal of Laws No 192, item 1965, as amended.
Uradni list št. 192, točka 1965, kakor je bil spremenjen.
Journal of Laws No 214, item 1571, as amended.
Uradni list št. 214, točka 1571, kakor je bil spremenjen.
Confidential information.
Zaupni podatek.
Journal of Laws 1997/140, item 939, as amended.
Uradni list št. 140, leto 1997, točka 939, kakor je bil spremenjen.
The actual amounts depend on the volume of sales achieved.
Dejanski zneski so odvisni od doseženega obsega prodaje.
Under Polish law, the rule that a lower mortgage ranking is automatically changed to a higher ranking is enshrined in Article 12 of the Land Register and Mortgages Act, Journal of Laws No 19, item 147.
V poljski zakonodaji je pravilo, da se nižji hipotekarni razred samodejno spremeni v višjega, vključeno v člen 12 zakona o zemljiški knjigi in hipotekah, Uradni list št. 19, točka 147.
This amount represents the recovery costs calculated by Wrocław Psie Pole Tax Office.
Ta znesek pomeni stroške izterjatve, ki jih je izračunal davčni urad okrožja Psie Pole v Vroclavu.
Interest on tax arrears applies to all public-law receivables falling to tax authorities and public bodies.
Zamudne obresti za neplačane davke se uporabljajo za vse javnopravne terjatve davčnih in javnih organov.
This follows from the obligation incumbent on the Minister for Finance under Article 56 of the Tax Code to set and publish current interest rates on tax arrears in line with market developments and the rates charged by the National Bank of Poland.
To izhaja iz obveznosti ministra za finance iz člena 56 davčnega zakonika, da v skladu z razvojem na trgu in obrestnimi merami, ki jih zaračunava Narodna banka Poljske, določi in objavi trenutne obrestne mere za neplačane davke.
Net profit is defined here and for the remainder of this decision as pre-tax profit.
Čisti dobiček je tu in v nadaljevanju tega sklepa opredeljen kot dobiček pred obdavčitvijo.
Bankruptcy and Restructuring Act of 28 February 2003, Journal of Laws No 60, item 535, as amended.
Zakon o stečaju in prestrukturiranju z dne 28. februarja 2003, Uradni list št. 60, točka 535, kakor je bil spremenjen.
Registered pledges are governed by the Registered Pledge and Register of Pledges Act (Journal of Laws of 6 December 1996 No 149, item 703, as amended).
Registrirane zastavne pravice ureja zakon o registriranih zastavnih pravicah in registru zastavnih pravic (Uradni list št. 149 z dne 6. decembra 1996, točka 703, kakor je bil spremenjen).
A registered pledge requires a written contract between the creditor and the person authorised to dispose of the object of the pledge and an entry in the register of pledges kept by the district courts.
Pri registrirani zastavni pravici je treba skleniti pisno pogodbo med upnikom in osebo, pooblaščeno za razpolaganje z zastavnim predmetom, ter to pravico vpisati v register zastavnih pravic, ki ga vodijo okrožna sodišča.
The property in question may remain in the possession of the owner, who continues to be entitled to dispose of it, or may be held by a third party, subject to that party's agreement.
Zadevno premoženje lahko ostane v posesti lastnika, ki lahko z njim še naprej razpolaga, ali pa se prenese k tretji osebi, če se ta oseba s tem strinja.
Ordinary pledges are governed by the Civil Code.
Običajne zastavne pravice ureja civilni zakonik.
The pledge is established by virtue of a contract between the owner and the creditor and, except where otherwise stipulated in law, the object of the pledge must be released to the creditor or a third party.
Zastavna pravica se uveljavi na podlagi pogodbe med lastnikom in upnikom, pri čemer je treba zastavni predmet prenesti na upnika ali tretjo stranko, razen če ni v zakonodaji drugače določeno.
All three methods are revenue methods in which either the forecast net profit, forecast net cash flow or forecast net profit plus depreciation are used as to evaluate future revenue.
Vse tri metode so metode prihodkov, pri katerih se za vrednotenje prihodnjih prihodkov uporablja predvideni čisti dobiček, predvideni čisti denarni tok ali predvideni čisti dobiček, ki se mu prišteje amortizacija.
The net profit plus depreciation is the first step in the process of obtaining an analysis of cash flow in the financial accounting system.
Čisti dobiček, ki se mu prišteje amortizacija, je prvi korak pri analizi denarnega toka v finančnem računovodskem sistemu.
WACC is defined in economic literature as a calculation of the total cost of the firm's capital in which each category of capital (whether it be equity or debt) is proportionately weighted.
Tehtano povprečje stroškov kapitala (WACC) je v ekonomski literaturi opredeljeno kot skupni stroški kapitala v podjetju, pri katerih je vsaka kategorija kapitala (lastniški kapital ali dolg) sorazmerno ponderirana.
All capital sources - common stock, preferred stock, bonds and other long-term debt - are included in the WACC calculation.
V izračun tehtanega povprečja stroškov kapitala so vključeni vsi kapitalski viri – navadne delnice, prednostne delnice, obveznice in drugi dolgoročni dolgovi.
The WACC is the weighted average cost of individual capital components.
WACC so tehtani povprečni stroški posameznih kapitalskih komponent.
Hence the calculation of the WACC cannot be disputed as it is a result of an applied mathematical formula.
Ker je izračun WACC rezultat uporabljene matematične formule, ga torej ni mogoče izpodbijati.
The Polish authorities regarded it as reasonable to assume that the value of PZL Wrocław was at least […].
Po mnenju poljskih organov je razumno predvidevati, da je bila vrednost podjetja PZL Wrocław vsaj […].
On that basis, […]% of PZL Wrocław's shares had a value of PLN 20,3 million.
Na podlagi tega je vrednost […] % delnic v podjetju PZL Wrocław znašala 20,3 milijona PLN.
The fair market value is defined in economic literature as the price at which a business or assets would change hands between a willing buyer and a willing seller, neither of whom are compelled to buy or sell and both of whom have a reasonable knowledge of all relevant facts at the time.
Poštena tržna vrednost je v ekonomski literaturi opredeljena kot cena, pri kateri bi se lastništvo nad podjetjem ali sredstvi z voljnega prodajalca preneslo na voljnega kupca, pri čemer nobeden od njiju ni prisiljen k nakupu ali prodaji in sta oba ustrezno seznanjena z vsemi takrat pomembnimi dejstvi.
The adjusted net assets value method is a way of valuing a ‘going concern’ by adjusting the value of all assets and liabilities to the fair market value.
Metoda prilagojene čiste vrednosti sredstev je način ovrednotenja „delujočega podjetja“, pri katerem se vrednost vseh sredstev in obveznosti prilagodi pošteni tržni vrednosti.
The euro was the nominal currency for these agreements.
Nominalna valuta teh pogodb je bil evro.
In particular, ILA Berlin, the international Paris air show, Farnborough Air Show in the UK and the defence industry fair (MSPO) in Poland.
Zlasti ILA Berlin, mednarodni letalski miting v Parizu, letalski miting v Farnboroughu v Združenem kraljestvu in sejem obrambne industrije (MSPO) na Poljskem.
[…] is one of the largest outsourcing companies in Europe, employing nearly […] workers with an estimated value of approximately […] (according to the wording of the proposal of 30 September 2008).
[…] je eno od največjih evropskih podjetij, ki delo oddajajo zunanjim izvajalcem, ki zaposluje skoraj […] delavcev, njegova vrednost pa je ocenjena na približno […] (glede na besedilo predloga z dne 30. septembra 2008).
Case C-256/97 DMT [1999] ECR I-3919, paragraph 21.
Sodba Sodiša z dne 29. junija 1999 v zadevi DMT (C-256/97), Recueil, str. I-3919, točka 21.
The costs that would be generated if an alternative set of conditions or assumptions were to prevail (as compared with the costs incurred or generated in the current circumstances).
Stroški, ki bi nastali, če bi prevladale drugačne okoliščine ali predpostavke (v primerjavi s stroški, nastalimi ali ustvarjenimi v sedanjih okoliščinah).
Case C-342/96 Spain v Commission [1999] ECR I-2459.
Sodba Sodišča z dne 29. aprila 1999 v zadevi Španija proti Komisiji (C-342/96 ), Recueil, str. I-2459.
Case T-152/99 HAMSA v Commission [2002] ECR II-3049, paragraph 170.
Sodba Sodišča prve stopnje z dne 11. julija 2002 v zadevi Hamsa proti Komisiji (T-152/99), Recueil, str. II-3048, točka 170.
This amount is used to repay amounts owed to the Social Security Office.
S tem zneskom se poplačajo zneski, dolgovani uradu za socialno varnost.
The Polish authorities also specified that the companies total debt vis-à-vis Wrocław City Council amounted to PLN 32094812,25 and, vis-à-vis the State Fund for the Rehabilitation of the Disabled, to PLN 14578542,46.
Poljski organi so še pojasnili, da je skupni dolg podjetij do mestnega sveta v Vroclavu znašal 32094812,25 PLN, do državnega sklada za rehabilitacijo invalidov pa 14578542,46 PLN.
For these two creditors the study did not include backdated interest, as stated in point 135.
V študiji za ta upnika niso vključene obresti za nazaj, kot je navedeno v točki 135.
An extension fee will be charged.
Zaračunala se bo pristojbina za odlog.
Tax Code of 29 August 1997 (Journal of Laws 2005/8, item 60, as amended).
Davčni zakonik z dne 29. avgusta 1997 (Uradni list št. 8, 2005, točka 60, kakor je bil spremenjen).