natgillin/translations-raw huggingface dataset:
That rate is lower than the applied interest rate for the Osinek loan (three-month PRIBOR [19] + 300 basis points), which on 30 April 2009 came to 5,51 % p.a.
Ta obrestna mera je nižja od uporabljene obrestne mere za posojilo podjetja Osinek (trimesečni PRIBOR [19] + 300 bazičnih točk), ki je 30. aprila 2009 znašala 5,51 % na leto.
An analysis of the applied rate (three-month PRIBOR plus 300 basis points) and the reference rate plus a margin of 220 basis points shows that these rates are comparable in terms of the methodology of the base as well as of the overall level of the applied rates, including the relevant risk margin.
Analiza uporabljene obrestne mere (trimesečni PRIBOR s pribitkom 300 bazičnih točk) in referenčne obrestne mere skupaj s kritjem v višini 220 bazičnih točk je pokazala, da so te obrestne mere primerljive glede na metodologijo osnovne in tudi splošne ravni uporabljenih obrestnih mer, vključno z ustreznim kritjem tveganja.
PRIBOR is the reference value of the interest rates on the market of interbank deposits which is calculated (fixed) from the quotations of the reference banks for the sale of deposits (i.e. offers) by the calculation agent for the Czech National Bank and for the Czech Forex Club (Financial Markets Association of the Czech Republic — A.C.I.) [20].
PRIBOR je referenčna vrednost obrestnih mer na trgu medbančnih depozitov, ki jo agent za obračun za češko nacionalno banko in za češko društvo Forex izračuna (določi) na podlagi ponujenih cen referenčnih bank za prodajo depozitov (tj. ponudbe) [20].
The rate for the Osinek loan is based on PRIBOR calculated for the maturity of 3 months.
Obrestna mera posojila podjetja Osinek temelji na obrestni meri PRIBOR, izračunani za obdobje zapadlosti 3 mesecev.
The reference rate is based on one-year money market rates.
Referenčna obrestna mera temelji na enoletnih obrestnih merah na denarnem trgu.
However, the Commission reserves the right to use shorter or longer maturities adapted to certain cases.
Vendar si Komisija pridržuje pravico, da uporabi krajša ali daljša obdobja zapadlosti, prilagojena posameznim primerom.
An analysis of the development of the two rates during the lifetime of the Osinek loan (April 2009 to June 2010) shows that the two rates are indeed comparable.
Analiza razvoja obeh obrestnih mer v času trajanja posojila podjetja Osinek (od aprila 2009 do junija 2010) je pokazala, da sta ti obrestni meri dejansko primerljivi.
The average rates [21] for the period from April 2009 to June 2010 are nearly the same (4,77 % for the PRIBOR + 300 basis points; 4,79 % for the reference rate including a risk margin of 220 basis points).
Povprečne obrestne mere [21] za obdobje od aprila 2009 do junija 2010 so približno enake (4,77 % za PRIBOR + 300 bazičnih točk; 4,79 % za referenčno obrestno mero, vključno s kritjem tveganja v višini 220 bazičnih točk).
The small difference between two basis points is due to the different method of adjustment.
Razlog za majhno razliko med bazičnimi točkami so različne metode prilagoditve.
PRIBOR is adjusted on a daily basis; the reference rate is adjusted only every few months.
PRIBOR se prilagaja dnevno, referenčna obrestna mera pa le vsakih nekaj mesecev.
Against this background, the applied interest rate can be accepted as an appropriate proxy for a market rate.
Na podlagi tega se lahko uporabljena obrestna mera sprejme kot primeren približek tržne obrestne mere.
On the basis of the Reference Rate Communication, the measure is in line with the market and does not, therefore, involve an economic advantage to ČSA.
Na podlagi sporočila o referenčnih obrestnih merah je zadevni ukrep skladen s trgom in zato ne pomeni gospodarske prednosti za ČSA.
Finally, the Commission notes that the payments of interest by ČSA to the creditor were executed in full compliance with the terms of the Osinek loan agreement [22].
Nazadnje Komisija ugotavlja, da so bila plačila obresti, ki jih je podjetje ČSA zagotovilo upniku, v celoti skladna s pogoji iz posojilne pogodbe s podjetjem Osinek [22].
Article 107(1) TFEU requires that a measure, in order to be defined as state aid, must favour ‘certain undertakings or the production of certain goods’.
V skladu s členom 107(1) PDEU se nek ukrep šteje za državno pomoč, kadar daje prednost „posameznim podjetjem ali proizvodnji posameznega blaga“.
In the case at issue, the Commission notes that the Osinek loan was granted to ČSA only.
V zadevnem primeru Komisija ugotavlja, da je bilo posojilo podjetja Osinek odobreno le podjetju ČSA.
Thus, it is selective within the meaning of Article 107(1) TFEU.
Torej gre za selektiven ukrep v smislu člena 107(1) PDEU.
With regard to the cumulative criteria of state aid, in the current case the effect on intra-EU trade and distortion of competition of the contested measure are indisputable and were not even contested by the Czech authorities.
Kar zadeva kumulativno merilo državne pomoči, je v zadevnem primeru vpliv spornega ukrepa na trgovino znotraj EU in izkrivljanje konkurence nesporen, pri čemer ga tudi češki organi niso izpodbijali.
On the basis of the above, the Commission considers that the measure does not involve any state aid to ČSA as the Osinek loan was provided under conditions that a market economy investor would require.
Na podlagi navedenega Komisija meni, da ukrep ne vključuje državne pomoči podjetju ČSA, ker je bilo posojilo podjetja Osinek zagotovljeno pod pogoji, ki bi jih zahteval vlagatelj pod tržnimi pogoji.
In particular, the interest rate at which the Osinek loan was granted in conformity with the reference rate determined on the basis of the Reference Rate Communication in view of the fact that ČSA had a B rating at the time when the loan was granted, which was confirmed by private banks and the loan was secured the whole time by collateralisation significantly higher than the 70 % of the loan amount stipulated in the Reference Rate Communication.
Zlasti je bila obrestna mera, po kateri je bilo odobreno posojilo podjetja Osinek, skladna z referenčno obrestno mero, določeno na podlagi sporočila o referenčni obrestni meri, glede na dejstvo, da je imelo podjetje ČSA v času odobritve posojila bonitetno oceno B. To so potrdile zasebne banke, pri čemer je bilo posojilo vedno v celoti zavarovano s premoženjem v vrednosti, ki je bila precej višja od 70 % zneska posojila, določenega v sporočilu o referenčnih obrestnih merah.
The Commission nevertheless also analysed whether, if the loan were considered to involve state aid, the measure would be compatible with the internal market under Article 107(3)(b) TFEU, on the basis of the Temporary Framework.
Komisija je kljub temu analizirala tudi, ali bi bil ukrep na podlagi začasnega okvira združljiv z notranjim trgom v skladu s členom 107(3)(b) PDEU, če bi se štelo, da posojilo vključuje državno pomoč.
On 17 December 2008 the Commission addressed this crisis by adopting the Temporary Framework.
Komisija je 17. decembra 2008 sprejela začasni okvir, v katerem je obravnavala to krizo.
In it the Commission acknowledged the ‘seriousness of the current financial crisis and its impact on the overall economy of the Member States’.
V njem je priznala „resnost […] sedanje finančne krize in njenega vpliva na celotno gospodarstvo držav članic“.
The Commission further concluded ‘that certain categories of state aid are justified, for a limited period, to remedy these difficulties and that they may be declared compatible with the common market on the basis of Article 107(3)(b) TFEU.’
Poleg tega je ugotovila, „da so nekatere kategorije državne pomoči […] utemeljene, za določen čas, da bi se te težave odpravile in da se lahko štejejo za združljive s skupnim trgom na podlagi člena 107(3)(b) PDEU“.
Compliance with Section 4.4.2 of the Temporary Framework
Skladnost z oddelkom 4.4.2 začasnega okvira
The measure must be assessed against the requirements of Section 4.4.2 of the Temporary Framework (‘Aid in the form of subsidised interest rate’).
Ukrep mora biti ocenjen na podlagi zahtev iz oddelka 4.4.2 („Pomoč v obliki subvencionirane obrestne mere“) začasnega okvira.
Compliance of the interest rate applied
Skladnost z uporabljeno obrestno mero
According to the Temporary Framework, the interest rate applied must be at least equal to the central bank overnight rate plus a premium equal to the difference between the average one-year interbank rate and the average of the central bank overnight rate over the period 1 January 2007 to 30 June 2008, plus the credit risk premium corresponding to the risk profile of the recipient, as stipulated by the Reference Rate Communication.
V skladu z začasnim okvirom je treba uporabiti obrestno mero, ki je najmanj enaka obrestni meri centralne banke za depozite čez noč, ter proti plačilu premije, ki je enaka razliki med povprečno enoletno medbančno obrestno mero in povprečno obrestno mero centralne banke za depozite čez noč v obdobju od 1. januarja 2007 do 30. junija 2008, in premije za kreditno tveganje, ki ustreza profilu tveganja prejemnika, kot je določeno v sporočilu o referenčnih obrestnih merah.
The overnight rate for the Czech Republic on 30 April 2009 was 1,45 % [23].
Obrestna mera Češke za depozite čez noč na dan 30. aprila 2009 je bila 1,45 % [23].
The difference between the average one-year interbank rate and the average of the central bank overnight rate over the period from 1 January 2007 to 30 June 2008 was 68 basis points.
Razlika med povprečno enoletno medbančno obrestno mero in povprečno obrestno mero centralne banke za depozite čez noč v obdobju od 1. januarja 2007 do 30. junija 2008 je bila 68 bazičnih točk.
The credit risk premium corresponding to the risk profile of the recipient was 220 basis points.
Premija za kreditno tveganje, ki ustreza profilu tveganja prejemnika, je bila 220 bazičnih točk.
This premium is based on a B rating (see recital 57) and a high level of collateralisation given the collateral offered (see recitals 64 and 65).
Ta premija temelji na bonitetni oceni B (glej uvodno izjavo 57) in visoki ravni zavarovanja s premoženjem glede na ponujeno zavarovanje (glej uvodni izjavi 64 in 65).
Under the Temporary Framework the minimum rate would therefore be 4,33 % (1,45 % + 0,68 % + 2,20 %).
Na podlagi začasnega okvira bi bila torej minimalna obrestna mera 4,33 % (1,45 % + 0,68 % + 2,20 %).
The actual rate for the Osinek loan was 5,51 %.
Dejanska obrestna mera za posojilo podjetja Osinek je bila 5,51 %.
As a result, the Osinek loan was granted at a rate higher than the minimum allowed under the Temporary Framework.
To pomeni, da je bilo posojilo podjetja Osinek odobreno po obrestni meri, ki je višja od minimalne dovoljene obrestne mere v skladu z začasnim okvirom.
Furthermore, Section 4.4 of the Temporary Framework requires two additional conditions to be fulfilled for a loan to be considered to be compatible aid:
Poleg tega morata biti v skladu z oddelkom 4.4 začasnega okvira izpolnjena dva dodatna pogoja, da se posojilo šteje za združljivo pomoč:
Contract concluded before 31 December 2010
Pogodba mora biti sklenjena pred 31. decembrom 2010
Not a firm in difficulty on 1 July 2008
Podjetje na dan 1. julija 2008 ne sme biti v težavah
Second, the beneficiary must not have been in difficulty on 1 July 2008.
Drugič, prejemnik na dan 1. julija 2008 ne sme biti podjetje v težavah.
Point 9 of the R&R Guidelines states that there is no EU definition of what constitutes a firm in difficulty and adds that the Commission regards a firm as being in difficulty where it is unable, whether through its own resources or with the funds it is able to obtain from its owners/shareholders or creditors, to stem losses which, without outside intervention by the public authorities, will almost certainly condemn it to going out of business in the short or medium term.
Točka 9 smernic za reševanje in prestrukturiranje določa, da pojem podjetja v težavah ni opredeljen na ravni EU, in dodaja, da Komisija za podjetje v težavah šteje podjetje, ko ni zmožno z lastnimi sredstvi ali sredstvi, ki jih lahko pridobi od svojih lastnikov/delničarjev ali upnikov, preprečiti izgub, ki bi brez zunanjega posredovanja javnih organov kratkoročno ali srednjeročno skoraj gotovo ogrozile obstoj družbe.
Subsequently, point 10(b) of the R&R Guidelines clarifies that a firm is regarded as being in difficulty, in the case of a company where at least some members have unlimited liability for the debt of the company, where more than half of its registered capital has disappeared and more than one quarter of that capital has been lost over the preceding 12 months.
Poleg tega je v točki 10(b) smernic za reševanje in prestrukturiranje pojasnjeno, da je podjetje v težavah, če gre za podjetje, v katerem imajo vsaj nekateri člani neomejeno odgovornost za dolg podjetja, v katerem je več kot polovica delniškega kapitala v računovodski bilanci izginila in v katerem je bila v zadnjih dvanajstih mesecih izgubljena več kot četrtina tega kapitala.
In 2008 ČSA's registered capital totalled CZK 2735 million.
Skupna vrednost delniškega kapitala ČSA v letu 2008 je bila 2735 milijonov CZK.
Based on the CAS standard, the company's equity fell to CZK 101 million in the same year.
Na podlagi ČRS se je lastniški kapital podjetja v istem letu zmanjšal na 101 milijon CZK.
Equity and registered capital in 2007 and 2008 (CZK thousand)
Lastniški in delniški kapital v letih 2007 in 2008 (v tisočih CZK)
Although more than half of the registered capital of the company had already disappeared on 1 July 2008, the second condition of point 10(a) of the R&R Guidelines — that more than one quarter of the registered capital must have been lost over the preceding 12 months — is not fulfilled.
Čeprav je več kot polovica delniškega kapitala podjetja do 1. julija 2008 že izginila, drugi pogoj iz točke 10(a) smernic za reševanje in prestrukturiranje, in sicer da je bila v zadnjih dvanajstih mesecih izgubljena več kot četrtina tega kapitala, ni bil izpolnjen.
The equity lost between June 2007 and July 2008 (CZK [31570000-34875000]) corresponds to only [0,8-1,5] % of the registered capital.
Lastniški kapital, ki je bil izgubljen od junija 2007 do julija 2008 ([31570000–34875000] CZK), ustreza le [0,8–1,5] % delniškega kapitala.
Furthermore, point 10(c) of the R&R Guidelines considers a company to be in difficulty where it fulfils the criteria under its domestic law for being the subject of collective insolvency proceedings.
Poleg tega je v skladu s točko 10(c) smernic za reševanje in prestrukturiranje podjetje v težavah, če po nacionalni zakonodaji izpolnjuje merila za uvedbo kolektivnih postopkov zaradi insolventnosti.
The Czech authorities confirmed that ČSA was not eligible for insolvency proceedings under paragraph 3 of the Czech Insolvency Act.
Češki organi so potrdili, da podjetje ČSA v skladu z odstavkom 3 češkega zakona o insolventnosti ni bilo upravičeno do postopkov zaradi insolventnosti.
According to point 11 of the R&R Guidelines, even when none of the circumstances set out in point 10 of those Guidelines are present, a firm may still be considered to be in difficulties, in particular where the usual signs of a firm being in difficulty are present, such as increasing losses, diminishing turnover, growing stock inventories, excess capacity, declining cash flow, mounting debt, rising interest charges and falling or nil net asset value.
V skladu s točko 11 smernic za reševanje in prestrukturiranje lahko podjetje velja za podjetje v težavah, tudi če ni prisotna nobena od okoliščin iz točke 10 zadevnih smernic, zlasti ob prisotnosti običajnih znakov podjetja v težavah, kot so naraščajoče izgube, upadanje prihodkov, kopičenje zalog, presežki prostih zmogljivosti, padanje denarnih tokov, naraščajoči dolgovi, naraščajoči stroški obresti in zmanjševanje ali izguba celotne čiste vrednosti sredstev.
The changes in ČSA's financial results during the relevant period did not show a clear negative trend (see Table 3).
Spremembe finančnih rezultatov ČSA v zadevnem obdobju niso pokazale jasnega negativnega trenda (glej tabelo 3).
However, it cannot be concluded that the turnover diminished significantly before 30 June 2008.
Vendar ni mogoče sklepati, da so prihodki pred 30. junijem 2008 znatno upadli.
The debt of the company was reduced between March 2008 and June 2008, and then increased in the following six months.
Dolg podjetja se je od marca do junija 2008 zmanjšal, nato pa se je v naslednjih šestih mesecih povečal.
Finally, the value of the assets fluctuated over the observed period without any clear trend.
Končno, vrednost premoženja se je v obravnavanem obdobju spreminjala brez kakršnega koli jasnega trenda.
The Commission observes that aid compatible under Section 4.4 of the Temporary Framework may be granted to firms that were not in difficulty on 1 July 2008 but entered into difficulty thereafter as a result of the global financial and economic crisis.
Komisija ugotavlja, da se lahko pomoč, ki je združljiva na podlagi oddelka 4.4 začasnega okvira, dodeli podjetjem, ki 1. julija 2008 niso bila v težavah, so se pa težave zaradi svetovne finančne in gospodarske krize pri njih pojavile po tem datumu.
Therefore, the fact that ČSA became a firm in difficulty at a later date is without prejudice to the compatibility under the Temporary Framework.
Zato dejstvo, da je ČSA postalo podjetje v težavah pozneje, ne posega v združljivost na podlagi začasnega okvira.
Consequently, the Commission considers that ČSA was not a firm in difficulty on 1 July 2008 and that it was therefore eligible for the application of the Temporary Framework.
Zato Komisija meni, da podjetje ČSA 1. julija 2008 ni bilo podjetje v težavah in da je torej upravičeno do uporabe začasnega okvira.
In view of the above, the Osinek loan fulfils all the conditions outlined in Section 4.4 of the Temporary Framework.
Glede na navedeno posojilo podjetja Osinek izpolnjuje vse pogoje iz oddelka 4.4 začasnega okvira.
Therefore, even if the Osinek loan were deemed to involve state aid, the measure would still be compatible with the internal market under Article 107(3)(b) TFEU.
Zato bi bil ukrep združljiv z notranjim trgom v skladu s členom 107(3)(b) PDEU, tudi če bi se štelo, da posojilo podjetja Osinek vključuje državno pomoč.
The Commission concludes that the Osinek loan does not involve any state aid.
Komisija ugotavlja, da posojilo podjetja Osinek ne vključuje državne pomoči.
Moreover, even if the Osinek loan were deemed to involve state aid, the measure would still be compatible with the internal market under Article 107(3)(b) TFEU.
Poleg tega bi bil ukrep združljiv z notranjim trgom v skladu s členom 107(3)(b) PDEU tudi, če bi se štelo, da posojilo podjetja Osinek vključuje državno pomoč.
The measure which the Czech Republic has implemented for České aerolinie, a. s. in the form of a loan totalling CZK 2,5 billion provided by Osinek a.s. on the basis of the loan agreement of 30 April 2009 does not constitute aid within the meaning of Article 107(1) of the Treaty on the Functioning of the European Union and, even if it did, it is compatible with the internal market under Article 107(3)(b) of that Treaty.
Ukrep, ki ga je sprejela Češka za podjetje České aerolinie a.s. v obliki posojila v skupni vrednosti 2,5 milijarde CZK, ki ga je podjetje Osinek a.s. zagotovilo na podlagi posojilne pogodbe z dne 30. aprila 2009, ne pomeni pomoči v smislu člena 107(1) Pogodbe o delovanju Evropske unije, pri čemer bi bil ta ukrep, tudi če bi pomenil tako pomoč, združljiv z notranjim trgom v skladu s členom 107(3)(b) navedene pogodbe.
With effect from 1 December 2009, Articles 87 and 88 of the EC Treaty have become Articles 107 and 108 respectively of the Treaty on the Functioning of the European Union (‘TFEU’).
Z učinkom od 1. decembra 2009 sta člena 87 in 88 Pogodbe ES postala člena 107 in 108 Pogodbe o delovanju Evropske unije (v nadaljnjem besedilu: PDEU).
The two sets of provisions are, in substance, identical.
Člena sta vsebinsko enaka prejšnjima členoma.
For the purposes of this Decision, references to Articles 107 and 108 of the TFEU should be understood as references to Article 87 and 88, respectively, of the EC Treaty when appropriate.
Kadar je to primerno, je treba sklicevanje na člena 107 in 108 PDEU v tem sklepu razumeti kot sklicevanje na člena 87 in 88 Pogodbe ES.
The TFEU also introduced certain changes in terminology, such as the replacement of ‘Community’ by ‘Union’ and ‘common market’ by ‘internal market’.
S PDEU so bile uvedene tudi nekatere spremembe terminologije, izraz „Skupnost“ je na primer nadomestil izraz „Unija“, besedno zvezo „skupni trg“ pa „notranji trg“.
The terminology of the TFEU will be used throughout this Decision.
V celotnem besedilu tega sklepa se uporablja terminologija iz PDEU.
Commission Decision C(2010) 987 final of 24 February 2010 (OJ C 43, 11.2.2011, p. 6).
Sklep Komisije C(2010) 987 final z dne 24. februarja 2010 (UL C 43, 11.2.2011, str. 6).
The first addendum was concluded on 23 July 2009, the second on 22 September 2009, the third on 9 December 2009 and the fourth on 25 January 2010.
Prvi dodatek je bil sklenjen 23. julija 2009, drugi 22. septembra 2009, tretji 9. decembra 2009, četrti pa 25. januarja 2010.
The turnover data within a financial year are cumulative.
Podatki o prihodkih v poslovnem letu so kumulativni.
OJ C 83, 7.4.2009, p. 1.
UL C 83, 7.4.2009, str. 1.
In 2009 the Czech market experienced a 6 % drop in passenger traffic at Prague Ruzyně airport.
Na češkem trgu se je v letu 2009 obseg potniškega prometa na letališču Ruzyně v Pragi zmanjšal za 6 %.
Additional comments made by the interested third parties concerning: (i) the capitalisation of the Osinek loan via the debt-for-equity swap; (ii) the alleged payment of remuneration of the Chairman of the Board of Directors and of the President of ČSA by the state-owned Prague Ruzyně airport, and (iii) transfers of property of ČSA to the state-owned Prague Ruzyně airport with the subsequent lease-back to CSA, do not relate to this case and will be analysed in the final decision in Case SA.30908 ČSA — Czech Airlines — Restructuring plan.
Dodatne pripombe zainteresiranih tretjih strani v zvezi s (i) kapitalizacijo posojila podjetja Osinek na podlagi zamenjave terjatev v lastniške deleže, (ii) domnevnim nadomestilom, ki ga je predsedniku upravnega odbora in direktorju ČSA izplačalo letališče Ruzyně v Pragi, ki je v državni lasti, ter (iii) prenosom premoženja ČSA na letališče Ruzyně v Pragi, ki je v državni lasti, s poznejšim povratnim zakupom podjetju ČSA niso povezane s to zadevo in bodo analizirane v končni odločitvi v zadevi SA.30908 ČSA – Czech Airlines – Načrt prestrukturiranja.
Act No 182/2006
Zakon št. 182/2006.
Case C-482/99 France v Commission (‘Stardust Marine’) [2002] ECR I-4397, paragraphs 52 and 57.
Zadeva C-482/99, Francija proti Komisiji („Stardust Marine“), Recueil 2002, str. I-4397, točki 52 in 57.
Joined Cases T-228/99 and T-233/99 Westdeutsche Landesbank GZ v Commission [2003] ECR II-435, paragraph 251.
Združeni zadevi T-228/99 in T-233/99, Westdeutsche Landesbank GZ proti Komisiji, Recueil 2003, str. II-435, točka 251.
Commission Communication to the Member States Application of Articles 92 and 93 of the EEC Treaty and of Article 5 of Commission Directive 80/723/CEE to public undertakings in the manufacturing sector, OJ C 307, 13.11.1993, p. 3, point 11.
Sporočilo Komisije državam članicam o uporabi členov 92 in 93 Pogodbe EGS in člena 5 Direktive Komisije 80/723/EGS za javna podjetja v proizvodnem sektorju (UL C 307, 13.11.1993, str. 3), točka 11.
The Communication deals with the manufacturing sector, but is applicable to other economic sectors.
Sporočilo se nanaša na proizvodni sektor, uporablja pa se tudi za druge gospodarske sektorje.
Cf. Case T-16/96 Cityflyer [1998] ECR II-757, paragraph 51.
Glej zadevo T-16/96, Cityflyer, Recueil 1998, str. II-757, točka 51.
See Case T-16/96 Cityflyer Express Ltd v Commission [1998] ECR II-757, paragraphs 45 and 46.
Glej zadevo T-16/96, Cityflyer Express Ltd proti Komisiji, Recueil 1998, str. II-757, točki 45 in 46.