natgillin/translations-raw huggingface dataset:
This would explain why there was a partial contribution of assets to Sernam Xpress then disposal of Sernam Xpress to Financière Sernam.
Tako naj bi bilo mogoče pojasniti delni prenos sredstev na družbo Sernam Xpress in nato prodajo te družbe družbi Financière Sernam.
According to the French authorities, the partial contribution of assets to Sernam Xpress is not an intra-group transfer in any case, since Sernam Xpress is a ‘shell company’ used to accommodate the assets en bloc of Sernam SA for the sole purposes of permitting their simultaneous disposal to the acquiring party – the company Financière Sernam – and not to continue the business of the parent company.
Francoski organi menijo, da delni prenos sredstev na družbo Sernam Xpress nikakor ni prenos znotraj skupine, saj je družba Sernam Xpress navidezna družba (tako rekoč „prazna lupina“), ki je bila uporabljena za to, da so bila sredstva družbe Sernam SA shranjena v svežnju, in sicer samo zaradi zagotovitve njihove hkratne prodaje kupcu (družbi Financière Sernam) in ne zaradi nadaljevanja dejavnosti matične družbe.
These assets were purportedly accommodated and contributed at their market value to Sernam Xpress for the purposes of carrying out the operation.
Ta sredstva naj bi bila za izvedbo zadevne transakcije shranjena in na podlagi njihove tržne vrednosti prenesena na družbo Sernam Xpress.
The French authorities enclosed with their comments in response to the opening decision the opinion of Nicolas Molfessis, Law Professor, according to which ‘Under French law … SNCF would not be permitted to dispose of Sernam's assets directly en bloc to Financière Sernam; under the legal rules applicable, SNCF was obliged to set up a contribution and disposal operation to comply with the constraints imposed by the Commission:
Francoski organi so v odgovor na odločitev o začetku postopka svojim pripombam priložili mnenje profesorja prava Nicolasa Molfessisa, ki je navedel, da „[p]o francoskem pravu […] skupina SNCF ni mogla neposredno v svežnju prenesti sredstev družbe Sernam na družbo Financière Sernam, zato je morala ta skupina v skladu z veljavnimi pravnimi določbami zaradi izpolnitve pogojev, ki jih je postavila Komisija, izvesti transakcijo prenosa in prodaje:
since French law makes no provision for the very concept of sale at a negative price, the operation could not be undertaken at market price, as imposed by the Commission, without prior recapitalisation;
ker francosko pravo ne pozna niti samega koncepta prodaje po negativni ceni, transakcije ni bilo mogoče izvesti po tržni ceni, kot je zahtevala Komisija, brez predhodne dokapitalizacije;
since French law makes no provision for the concept of the assignment of debt, and makes the assignment of contract conditional upon the prior agreement of all the contractors assigned, an agreement which is impossible to obtain in practice, the assignment of the operating liabilities necessary to continue the business called for recourse to the technique of the partial contribution of assets to overcome this obstacle.
ker francosko pravo ne pozna primera prodaje dolga in se odveza od pogodbenih obveznosti pogojuje s predhodnim dogovorom vseh odvezanih pogodbenih strani, ki ga je praktično nemogoče doseči, je bilo treba za prodajo obveznosti iz poslovanja, potrebno za nadaljnje poslovanje, uporabiti tehniko delnega prenosa sredstev, s čimer je bila odstranjena ta ovira.
Recourse to the technique of the partial contribution of assets required the intervention of a company, Sernam Xpress, to comply with the condition of absence of legal link between the assignor and the assignee imposed by the Commission.
Za uporabo tehnike delnega prenosa sredstev je bila potrebna vmesna družba, to je Sernam Xpress, s čimer je bil izpolnjen pogoj o neobstoju pravne povezave med odstopnikom in prevzemnikom, ki ga je postavila Komisija.
The arrangement put in place by Sernam must be assimilated to a disposal of the assets en bloc:
Shemo, ki jo je vzpostavila družba Sernam, je treba izenačiti s prodajo sredstev v svežnju:
The contribution and disposal operation, which is well-known in practice, has been assimilated by the Court of Cassation to a disposal of assets whenever indicators showed that the two operations were inextricably linked, since in the end their sole aim is the transfer of the assets;
Cour de cassation je v praksi dobro znano transakcijo prenosa in prodaje vedno izenačilo s prodajo sredstev, če so obstajali indici na nerazdružljivost obeh transakcij, ki sta in fine zadevali prenos sredstev;
Such an inextricable link is perfectly obvious in the present case, since the various agreements signed between the parties very clearly show the will of the parties to regard the various operations as interdependent, and having the sole objective of the disposal of Sernam’s assets to Financière Sernam.’
v obravnavanem primeru gre nedvomno za tako nerazdružljivost, saj iz posameznih sporazumov, ki so jih podpisale vpletene strani, jasno izhaja njihova volja, da se različne transakcije obravnavajo kot odvisne druga od druge, podpisani pa so bili izključno zaradi prodaje sredstev družbe Sernam družbi Financière Sernam.“
According to the French authorities, Sernam SA’s assets were sold en bloc to a company that has no legal link with SNCF, at a negative price corresponding to a market price, following negotiation of the disposal conducted in the context of an open, transparent, unconditional and non-discriminatory tendering procedure, in accordance with the conditions laid down in Article 3(2) of the Sernam 2 Decision.
Francoski organi menijo, da so bila sredstva družbe Sernam SA prodana v svežnju družbi brez pravne povezave s skupino SNCF, in sicer po negativni ceni, ki se je ujemala s tržno ceno, ter po pogajanjih, izpeljanih v odprtem, preglednem, brezpogojnem in nediskriminacijskem postopku za zagotovitev konkurence v skladu s členom 3(2) odločbe Sernam 2.
Concerning the open and transparent nature of the selection process
Odprtost in preglednost izbirnega procesa
For the French authorities, the assertion that the file transmitted to potential buyers of Sernam SA’s assets did not refer to the sale of Sernam Xpress but to the sale of Sernam SA’s assets is materially incorrect.
Za francoske organe je trditev, da se spis, ki je bil predložen morebitnim kupcem sredstev družbe Sernam SA, ni nanašal na prodajo družbe Sernam Xpress, temveč na prodajo sredstev družbe Sernam SA, vsebinsko napačna.
Moreover, the requirement of an open, transparent and non-discriminatory tendering procedure would not imply undertaking a new tendering procedure after the recapitalisation, since this is merely the direct result of the tendering procedure and the negative price resulting from it.
Poleg tega naj zahteva po odprtem, preglednem in nediskriminacijskem pozivu k predložitvi ponudb ne bi pomenila, da je treba po dokapitalizaciji izvesti nov poziv k predložitvi ponudb, saj je zadevna dokapitalizacija le neposredna posledica navedenega poziva in predlagane negativne cene.
Concerning legitimate expectations
Legitimna pričakovanja
The French authorities consider that by providing explicitly for the possibility to undertake the disposal of Sernam’s assets en bloc, the Sernam 2 Decision gave rise to expectations on the part of SNCF and the French authorities based on the fact that they were authorised to proceed in this way.
Francoski organi menijo, da so skupina SNCF in francoski organi na podlagi odločbe Sernam 2, v kateri je bila izrecno predvidena možnost prodaje sredstev družbe Sernam v svežnju, upravičeno domnevali, da je tako ravnanje dovoljeno.
Initiating the State aid investigation procedure would therefore ignore the legitimate expectations that the French authorities had placed in the Sernam 2 Decision, especially as they had acted with total transparency in relation to the Commission, providing it with all the relevant explanations on the terms and conditions of this disposal.
Z začetkom postopka preverjanja državnih pomoči naj bi bilo torej kršeno načelo legitimnih pričakovanj francoskih organov v zvezi z odločbo Sernam 2, in sicer še toliko bolj, ker naj bi ti v stikih s Komisijo ravnali popolnoma pregledno, saj naj bi ji predložili vsa potrebna pojasnila o podrobnih pogojih zadevne prodaje.
Concerning the alleged manipulations carried out at the time of the valuation of the assets and liabilities transferred from Sernam SA to Sernam Xpress
Domnevne manipulacije ob oceni vrednosti sredstev in obveznosti, prenesenih z družbe Sernam SA na družbo Sernam Xpress
Concerning the alleged manipulations carried out at the time of the valuation, the French authorities firstly reject the discount of EUR 22 million purportedly made on the valuation of the assets.
Kar zadeva domnevne manipulacije ob oceni vrednosti, francoski organi najprej zavračajo trditev o 22-milijonskem odbitku, ki naj bi bil izveden ob oceni vrednosti sredstev.
In fact, since the operation in question was a partial contribution of assets followed by a disposal, the accounting rules applicable required valuation not at net accounting value as the first complainant claims, but based on the current value of the assets and liabilities contributed.
Pri transakciji delnega prenosa sredstev, po katerem se izvede prodaja, naj se namreč v skladu z upoštevnimi računovodskimi predpisi ne bi zahtevalo vrednotenje na podlagi neto računovodske vrednosti, kot trdi prva pritožnica, ampak na podlagi dejanskih vrednosti prenesenih sredstev in obveznosti.
These values were assessed in accordance with the market price or valuations by independent experts.
Te vrednosti naj bi se ocenjevale glede na tržno ceno ali na podlagi neodvisnih izvedenskih mnenj.
The accounting rules in force were also applied for the valuation of the deferred tax credits.
Veljavna računovodska pravila naj bi bila uporabljena tudi pri vrednotenju različnih davčnih odbitkov.
As regards the valuation of the brand portfolio, this was based on an estimate made by the European Commission on 23 May 2001 at the time of a contribution by SNCF to SCS Sernam.
Kar zadeva oceno portfelja blagovnih znamk, naj bi ta temeljila na oceni, ki jo je dala Evropska komisija 23. maja 2001 ob izvedbi prenosa s skupine SNCF na družbo SCS Sernam.
With regard to the valuation of the liabilities, the French authorities consider that only the liabilities necessary to continue the business of the company in receipt of the contribution were transferred.
Kar zadeva vrednotenje obveznosti, francoski organi menijo, da so bile prenesene le obveznosti, potrebne za nadaljevanje dejavnosti družbe, upravičene do prenosa.
Moreover, in their view, the valuation of the badwill corresponds only to the entry in the accounts of the negative market value of EUR 57 million.
Poleg tega naj bi bilo vrednotenje slabega imena („badwill“) vključeno le v računovodski vpis negativne tržne vrednosti v višini 57 milijonov EUR.
Concerning the absence of obligation to recover the aid amounting to EUR 41 million from Sernam Xpress
Neobstoj obveznosti izterjave pomoči v višini 41 milijonov EUR od družbe Sernam Xpress
The French authorities emphasise that the distinction between share deal and asset deal, which forms the basis for the Commission’s arguments developed in the context of the SMI [16] and CDA [17] cases, is not relevant in the present case.
Francoski organi trdijo, da v obravnavanem primeru ni mogoče upoštevati razlike med odkupom deležev („share deal“) in odkupom sredstev („asset deal“), na kateri temeljijo utemeljitve, ki jih je Komisija navedla v zadevah SMI [16] in CDA [17].
Concerning the breakdown of the operation into intra-group transfer and share deal
Razčlenitev transakcije na prenos znotraj skupine in odkup deležev
For the reasons described in recitals 61 to 70, the French authorities consider that the operations for the transfer of the activities from Sernam SA to Financière Sernam do not constitute an intra-group transfer followed by a share deal, but a disposal of assets to a third party.
Francoski organi iz razlogov, opisanih v uvodnih izjavah od 61 do 70, menijo, da transakcije prenosa dejavnosti družbe Sernam SA na družbo Financière Sernam niso prenos znotraj skupine, ki bi mu sledil odkup deležev, temveč prodaja sredstev tretji osebi.
However, the negative price ‘paid’ – in reality received – by Financière Sernam was allegedly only EUR 57 million. Consequently, the seller would have saved EUR 41 million, but it is therefore the seller who would have kept the economic benefit of the aid.
Vendar naj bi negativna cena, ki jo je družba Financière Sernam „plačala“ – dejansko prejela –, znašala le 57 milijonov EUR. Tako naj bi prodajalec prihranil 41 milijonov EUR, vendar naj bi zato on ohranil gospodarsko korist pomoči.
They refer in this context to the Banks judgment [18].
V tem okviru se sklicujejo na sodbo v zadevi Banks. [18]
Concerning compliance with the conditions of the CDA and SMI judgments
Izpolnitev pogojev iz sodb v zadevah CDA in SMI
The French authorities maintain that, in its CDA judgment, the General Court considered that the fact that CDA continued the business of the undertakings which have benefited from aid does not, as such, prove the existence of an intention to evade the effects of a recovery order [19].
Po trditvah francoskih organov je Sodišče prve stopnje v sodbi CDA menilo, da samo na podlagi dejstva, da je družba CDA nadaljevala dejavnost podjetij, ki so prejela pomoč, še ni mogoče dokazati obstoja želje po izognitvi učinkom naloga za vračilo. [19]
The General Court specified that there was no intention to evade the effects of the recovery order in so far as a purchase price in line with the market was paid by CDA for the takeover of the company LCA’s assets [20].
Sodišče prve stopnje naj bi pojasnilo, da ni obstajala želja po izognitvi učinkom naloga za vračilo, ker naj bi družba CDA za dele sredstev družbe LCA plačala tržno ceno. [20]
According to the French authorities, since Sernam Xpress had acquired ownership of the assets and part of the liabilities from Sernam SA at their market value, this operation did not transfer to Sernam Xpress the actual benefit of the advantage generated by the granting of aid of EUR 41 million. Furthermore, the Commission cannot argue that, as a result of the takeover of its assets, Sernam SA remains like an empty shell from which it is not possible to secure repayment of the unlawful aid.
Francoski organi menijo, da s transakcijo, s katero je družba Sernam Xpress pridobila lastništvo nad sredstvi in delom obveznosti družbe Sernam SA po tržni ceni, na družbo Sernam Xpress ni bila prenesena dejanska korist, nastala s podelitvijo pomoči v višini 41 milijonov EUR. Poleg tega naj Komisija ne bi mogla trditi, da je družba Sernam SA po odkupu njenih sredstev ostala kot prazna lupina, od katere ni mogoče pridobiti vračila nezakonitih pomoči.
Such an argument, already developed in the CDA judgment, was rejected by the General Court [21].
Tako trditev, ki je bila navedena že v sodbi CDA, naj bi Sodišče prve stopnje zavrnilo. [21]
The French authorities emphasise that the disposal of Sernam SA’s assets en bloc was a possibility explicitly considered by the Commission.
Francoski organi poudarjajo, da je Komisija izrecno predvidela možnost prodaje sredstev družbe Sernam SA v svežnju.
For SNCF, the fact of transferring Sernam’s assets to a company en bloc, at market price, through an open and transparent procedure, could not therefore under any circumstances be considered an evasion.
Dejstva, da je skupina SNCF sredstva družbe Sernam prodala neki družbi v svežnju in po tržni ceni, in sicer v preglednem in odprtem postopku, naj torej nikakor ne bi bilo mogoče obravnavati kot izogibanja takemu postopku.
This is all the more compelling as the Commission itself apparently considered that such an evasion was ruled out ‘where, in addition to taking place at the market price, the transfer of the beneficiary company’s assets ‘en bloc’ is made as part of an unconditional procedure that is open to all the company’s competitors’ [22].
To naj bi še toliko bolj držalo, ker je tudi Komisija menila, da je tako izogibanje izključeno, če se prodaja sredstev družbe prejemnice „v svežnju“ – poleg tega, da se izvrši po tržni ceni – izvede v okviru brezpogojnega postopka, odprtega vsem konkurentom te družbe [22].
Concerning the Commission’s argument [23] that the operation not only allowed the assets to be sheltered as authorised by the CDA judgment, but also a structure to be created permitting the financing of new investments such as the takeover of the company Coulonge, it sufficed to observe that the acquisition of the company Coulonge Services by Sernam Xpress was carried out simultaneously with the takeover of Sernam Xpress by BCP and that Sernam Xpress was able to draw on the takeover by BCP by injection of new capital to undertake this acquisition.
Kar zadeva trditev Komisije [23], da zadevna transakcija ni omogočila le postavitve sredstev „na varno“, kot je to dovoljeno s sodbo CDA, temveč tudi izoblikovanje strukture, v okviru katere je bilo mogoče financirati nove naložbe, na primer odkup družbe Coulonge, naj bi zadostovala ugotovitev, da je bil nakup družbe Coulonge Services, ki ga je izvedla družba Sernam Xpress, izveden hkrati s prevzemom nadzora družbe BCP nad družbo Sernam Xpress, in da se je lahko družba Sernam Xpress pri zadevnem nakupu oprla na ta prevzem, s katerim ji je bil zagotovljen dotok svežega kapitala.
Consequently, contrary to the doubts expressed by the Commission, ‘the third criterion’ of the CDA judgment, as identified by the French authorities, is therefore also complied with.
Zato naj bi bilo v nasprotju z dvomi Komisije upoštevano tudi „tretje merilo“ iz sodbe CDA, kot so ga opredelili francoski organi.
Concerning the new aid to Sernam Xpress and/or Financière Sernam
Nove pomoči za družbo Sernam Xpress in/ali družbo Financière Sernam
Concerning the existence of new aid in the memorandum of understanding of 21 July 2005 (recapitalisation of Sernam SA by SNCF amounting to EUR 57 million; recapitalisation of Sernam Xpress by SNCF amounting to EUR 2 million; guarantees granted by SNCF to Financière Sernam; cancellation clause), the French authorities consider that, where a sale took place at market price following a tendering procedure which was open and transparent and at a cost lower than the cost of winding-up, this does not include any aid components.
Kar zadeva obstoj novih pomoči v memorandumu o soglasju z dne 21. julija 2005 (dokapitalizacija družbe Sernam SA v višini 57 milijonov EUR, ki jo je izvedla skupina SNCF, dokapitalizacija družbe Sernam Xpress v višini 2 milijona EUR, ki jo je izvedla skupina SNCF, poroštva skupine SNCF za družbo Financière Sernam in razveljavitvena klavzula), francoski organi menijo, da prodaja ne vsebuje elementov pomoči, če se izvede po tržni ceni ob koncu odprtega in preglednega poziva k predložitvi ponudb ter so njeni stroški nižji od stroškov likvidacije.
In addition, the negative price presented by Financière Sernam allegedly corresponds to the estimates made by independent experts.
Poleg tega naj bi se negativna cena družbe Financière Sernam ujemala z ocenami neodvisnih izvedencev.
Moreover, the French authorities specify that the cancellation clause was included in the memorandum of understanding of 21 July 2005 at the request of Financière Sernam and solely to protect it against the risk of a negative decision by the Commission.
Francoski organi še pojasnjujejo, da je bila razveljavitvena klavzula v memorandum o soglasju z dne 21. julija 2005 vključena na zahtevo družbe Financière Sernam le za njeno zaščito pred tveganjem, da bi Komisija sprejela negativno odločitev.
The French authorities consider that no disposal would have been possible without this type of clause and claim that the Commission did not call this clause into question in a previous case [24].
Francoski organi menijo, da prodaja brez take klavzule ne bi bila mogoča, in trdijo, da je Komisija v predhodni zadevi ni izpodbijala. [24]
REMINDER OF REASONING BEHIND ARTICLE 3 OF THE SERNAM 2 DECISION
POVZETEK OBRAZLOŽITVE ČLENA 3 ODLOČBE SERNAM 2
Firstly, the Commission recalls that the present procedure was initiated under Article 16 of Council Regulation (EC) No 659/1999 of 22 March 1999 laying down detailed rules for the application of Article 93 of the EC Treaty [25], as the Commission had received indications that France has misused the aid authorised, subject to conditions, by the Sernam 2 Decision, following the misuse of aid authorised, also subject to conditions, by the Sernam 1 decision.
Komisija uvodoma opozarja, da je bil ta postopek začet na podlagi člena 16 Uredbe Sveta (ES) št. 659/1999 z dne 22. marca 1999 o določitvi podrobnih pravil za uporabo člena 93 Pogodbe ES [25], ker je imela indice, da Francija zlorablja pomoč, pogojno odobreno z odločbo Sernam 2, in sicer po zlorabi pomoči, ki je bila prav tako pogojno odobrena z odločbo Sernam 1.
The Commission considers it appropriate to recall the reasons which led to it imposing the conditions provided for by Article 3 of the Sernam 2 Decision [26]:
Komisija meni, da je treba povzeti razloge, iz katerih se je odločila za naložitev pogojev iz člena 3 odločbe Sernam 2: [26]
‘[…] taking account of the misuse of aid established above and the extension of the period of the restructuring plan, the Commission takes the view that Sernam should take a specific compensatory measure by permanently withdrawing from market segments with overcapacity so as to warrant approval of part of the aid at issue.
„[…] Komisija ob upoštevanju zgoraj ugotovljene [zlorabe] pomoči in podaljšanja trajanja načrta prestrukturiranja ocenjuje, da mora Sernam priskrbeti posebno nadomestilo s trajnim umikom iz [segmentov] trga[…] [z bistveno] presežno zmogljivostjo, da se odobritev enega dela zadevne pomoči lahko upraviči.
The immediate consequence of granting State aid in markets with structural overcapacity or in decline is that a company that would have had to give up its business on account of the stated difficulties would be enabled to artificially occupy market shares for which there is a very strong demand, to the detriment of financially sound competing companies.
Podelitev državnih pomoči na trgih s presežno strukturno zmogljivostjo in celo v [zatonu] bi dejansko podjetju, ki [bi] moralo zaustaviti svoje dejavnosti zaradi svojih razglašenih težav, posledično [neposredno] omogočila umetno zasedbo zelo iskanih tržnih deležev v škodo konkurenčnih in finančno sposobnih podjetij.
Care should therefore be taken to avoid driving away financially sound competitors from the market to the benefit of those that appear to be unable to survive by their own efforts.
[Zato] se je treba izogniti nezaželenim učinkom, da bi pomoč z iskanega trga pregnala finančno sposobna podjetja v korist tistih, ki se izkazujejo kot nesposobna preživeti s svojimi lastnimi sredstvi.
Bearing this in mind, the Commission is of the opinion that Sernam should permanently withdraw from market segments with overcapacity, in this case the market segment of groupage/traditional mail carried by road.
V tem smislu Komisija ocenjuje, da mora Sernam trajno odpraviti svoje dejavnosti [v segmentih] trga s presežno zmogljivostjo, v tem primeru [v segmentu] trga zbirnega pošiljanja/tradicionalne pošte, prevažane po cesti.
The Commission therefore considers it necessary to impose conditions which (i) will enable Sernam to continue moving through innovative diversification towards a market segment to be developed (and therefore without overcapacity) and (ii) will make it possible to replace Sernam’s services by services of other operators (which will have the effect of freeing up Sernam’s market shares in these segments) in market segments with overcapacity or stagnation or in decline.
Zaradi tega meni, da je potrebno določiti pogoje, ki (i) bodo Sernamu omogočili nadaljevati njegovo razvijanje v smislu inovativne usmeritve k [segmentu] trga, ki ga je treba razviti (ki torej nima presežne zmogljivosti)[,] in (ii) bodo [v segmentih] trga s presežno zmogljivostjo, v zastoju ali v [zatonu] omogočili nadomestiti storitve Sernama s storitvami drugih operaterjev (kar bo [sprostilo] tržn[e] deleže[] Sernama [v] teh [segmentih]).