natgillin/translations-raw huggingface dataset:
The Commission requested further information by e-mails dated 18 April 2012, 24 April 2012, 5 July 2012, 22 August 2012 and 7 December 2012, and by letters of 4 May 2012 and 14 January 2013, to which the Greek authorities replied on 20 April 2012, 26 April 2012, 3 October 2012, 13 November 2012, 15 November 2012, 7 December 2012, 24 December 2012 and 18 January 2013.
Sklep z dne 6. marca 2013 je bil objavljen v Uradnem listu Evropske unije [4].
Meetings between the Commission services and representatives of the Greek authorities took place on 30 April 2012 and 11 September 2012 in Athens and on 25 January 2013 in Brussels.
Komisija je pozvala grške organe in zainteresirane strani, naj predložijo svoje pripombe v zvezi z ukrepi pomoči.
By letter dated 6 March 2013 (‘the decision of 6 March 2013’), the Commission informed Greece that it had decided to initiate the procedure laid down in Article 108(2) of the Treaty in respect of certain aid measures described in Section 2.2 below (‘the formal investigation procedure’).
Grški organi so z elektronskim dopisom z dne 21. januarja 2014 obvestili Komisijo, da se strinjajo s sprejetjem sklepa v angleščini.
The Commission invited the Greek authorities and interested parties to submit their comments on the aid measures.
Upravičenec
The Commission received comments from the Greek authorities on 30 April 2013.
Družba Larco je specializirana za izkopavanje in predelavo laterita, izkopavanje lignita ter proizvodnjo feroniklja in stranskih proizvodov.
It received no comments from interested parties.
Njene dejavnosti vključujejo raziskovanje, razvoj, rudarstvo, taljenje in trgovanje s proizvodi po celem svetu.
By e-mail of 21 January 2014, the Greek authorities informed the Commission that they agreed with the adoption of the decision in English.
Družba Larco je eden od največjih proizvajalcev feroniklja na svetu.
DESCRIPTION OF THE AID MEASURES
Leta 2012 je zaposlovala 960 ljudi in se je torej uvrščala med velika podjetja [5].
The beneficiary
Med formalnim postopkom preiskave je bilo 55,2 % delnic družbe Larco v lasti grške države prek HRADF, 33,4 % v lasti National Bank of Greece S.A. (v nadaljnjem besedilu: NBG; zasebna finančna institucija) in 11,4 % v lasti Public Power Corporation S.A. (v nadaljnjem besedilu: PPC; ponudnik in proizvajalec električne energije v Grčiji, katerega večinski delničar je država).
Larco is specialised in the extraction and processing of laterite ore, extraction of lignite and production of ferronickel and by-products.
Družba Larco upravlja livarno v Larymni v osrednji Grčiji.
Its activities include exploration, development, mining, smelting and trading of its products worldwide.
Družba Larco ima tudi rudarske pravice v več krajih v Grčiji, in sicer v štirih skupinah:
Larco is one of the largest ferronickel producers in the world.
rudniki Agios Ioannis (blizu Larymne), rudniki Evia, rudniki Kastoria in rudnik lignita Servia.
In 2012 it had 960 employees, and therefore qualified as a large enterprise [5].
Družba Larco je bila ustanovljena 1989 kot nova pravna oseba po likvidaciji Hellenic Mining and Metallurgical S.A. iz Larymne (v nadaljnjem besedilu: stara družba Larco).
At the time of the formal investigation procedure, 55,2 % of Larco's shares were owned by the Greek State through HRADF, 33,4 % by the National Bank of Greece S.A.
Opis ukrepov
(‘NBG’, a private financial institution) and 11,4 % by Public Power Corporation S.A.
Ukrep št. 1:
Larco operates a smelting plant in Larymna, in central Greece.
Aprila 1998 so družba Larco in njeni glavni upniki, namreč stara družba Larco, PPC in grška država, sklenili dogovor o poravnavi dolga.
Larco also holds mining rights in various locations in Greece in four bundles:
V skladu z dogovorom iz leta 1998 naj bi družba Larco za svoje obveznosti do teh upnikov plačevala obresti po 6-odstotni obrestni meri per annum (v nadaljnjem besedilu: p.a.).
the Agios Ioannis mines (near Larymna), the Evia mines, the Kastoria mines and the Servia lignite mine.
Vendar je dolg do grške države ostal nespremenjen oziroma se je nekoliko povečal vsaj od leta 2004 [6], dolg do PPC in stare družbe Larco pa je bil poravnan oziroma se je zmanjšal [7].
Larco was established in 1989 as a new corporate entity following the liquidation of Hellenic Mining and Metallurgical S.A. of Larymna (‘Old Larco’).
Zato se zdi, da je država svoje posojilo družbi Larco obravnavala drugače kot druga dva upnika.
Old Larco is still under liquidation, but its assets were contributed to Larco along with the corresponding liabilities in 1989.
Ukrep št. 2:
Old Larco is therefore a creditor of Larco.
Državno poroštvo leta 2008
Description of the measures
Država je 22. decembra 2008 dala poroštvo za posojilo 30 milijonov EUR, ki ga je ATE Bank dala družbi Larco.
Measure 1:
Poroštvo je pokrivalo 100 % posojila do 3 let s poroštveno premijo 1 % p.a.
non-collection of debt to the Ministry of Finance
Ukrep št. 3:
In April 1998, a debt settlement agreement was reached between Larco and its major creditors, namely Old Larco, PPC and the Greek State.
Dokapitalizacija leta 2009
According to the 1998 agreement, Larco's liability to those creditors was supposed to be serviced with an interest of 6 % per annum (‘p.a.’)
Noben nov delničar ni prispeval k dokapitalizaciji.
However, the debt to the Greek State has remained stable or increased slightly at least since 2004 [6], whereas the debt to PPC and Old Larco has been eliminated or decreased [7].
Dejanska dokapitalizacija je znašala samo 65,5 milijona EUR, pri čemer je država prispevala približno 45 milijonov EUR (69 % celotnega kapitalskega vložka) in NBG 20,5 milijona EUR (31 %).
Measure 2:
Ukrep št. 4:
the 2008 State guarantee
Državno poroštvo leta 2010
On 22 December 2008 the State provided a guarantee for a loan of EUR 30 million from ATE Bank to Larco.
Država je 10. maja 2010 dala poroštvo za kritje bančne garancije, ki bi jo NBG dala družbi Larco za znesek približno 10,8 milijona EUR.
The guarantee covered 100 % of the loan for up to 3 years and had a guarantee premium of 1 % p.a.
Poroštvo je pokrivalo 100 % bančne garancije in je imelo neomejeno veljavnost ter poroštveno premijo v višini 2 % p.a.
Measure 3:
Ukrep št. 5:
the 2009 capital increase
Bančne garancije namesto predplačila davčne globe leta 2010
In 2009, in the light of its negative equity, Larco's Board of Directors proposed, and the three shareholders approved, a share capital increase of EUR 134 million.
Grški davčni organi so leta 2010 pregledali računovodske izkaze družbe Larco in zavrnili računovodsko obravnavo nekaterih izgub iz pogodb o varovanju pred tveganjem, povezanim s ceno niklja.
However, only the Greek State exercised its rights in full, whilst NBG exercised its rights in part and PPC did not participate at all in the share capital increase.
Zaradi napačne vknjižbe izgub je bila naložena davčna globa v višini 190 milijonov EUR [9].
No new shareholders contributed to the share capital increase.
Družba Larco je nato izpodbijala naložitev davčne globe pred grškimi sodišči.
The actual share capital increase only amounted to EUR 65,5 million, with the State contributing approximately EUR 45 million (69 % of the total capital injection) and NBG EUR 20,5 million (31 %).
V skladu z grškim pravom [10] mora subjekt, ki mu je bila naložena davčna globa, vnaprej plačati 25 % zadevnega zneska, da lahko izpodbija naložitev davčne globe na sodišču (v tem primeru bi 25 % znašalo 47 milijonov EUR).
Despite Larco's bad financial situation, it appears that the capital increase was not based on a restructuring plan to restore the company's viability, whereas NBG appears to have written-off the book value of the company ‘because the Group does not foresee to recover the book value of the investment, given that the company encounters significant financial difficulties’ [8] (see recital 45 of the decision of 6 March 2013).
Vendar je v primeru družbe Larco grško upravno sodišče odločilo, da družbo oprosti obveznosti, da vnaprej plača 25 % davčne globe, ter ji namesto tega naložilo obveznost, da predloži bančne garancije za samo 1,5 milijona EUR.
Measure 4:
Ukrep št. 6:
the 2010 State guarantee
Državna poroštva leta 2011
On 10 May 2010 the State provided a guarantee, to cover a letter of guarantee that NBG would provide to Larco for the amount of approximately EUR 10,8 million.
Država je 30. decembra 2011 dala poroštvi za posojili 30 milijonov EUR in 20 milijonov EUR, ki ju je ATE Bank dala družbi Larco.
The guarantee covered 100 % of the letter of guarantee and had an indefinite duration and a guarantee premium of 2 % p.a.
Eno od posojil (20 milijonov EUR) je že zapadlo, ko je bilo poroštvo dano.
Measure 5:
Poroštvi sta zagotavljali 100 % kritje in sta imeli premijo 1 % p.a.
letters of guarantee instead of pre-payment of a tax fine in 2010
Razlogi za uvedbo formalnega postopka preiskave
In 2010 the Greek tax authorities audited Larco's financial statements and rejected the accounting treatment of certain losses resulting from hedging contracts for the price of nickel.
Komisija je v sklepu z dne 6. marca 2013 (uvodne izjave 18 do 25) predhodno ugotovila, da bi bilo mogoče družbo Larco šteti za podjetje v težavah v smislu Smernic za reševanje in prestrukturiranje [11] od leta 2007.
As a result of the wrongful registration of the losses, a tax fine of EUR 190 million was imposed [9].
Glede na to je Komisija predhodno ugotovila, da je vseh šest ukrepov državna pomoč, in je izrazila dvome glede njihove združljivosti z notranjim trgom.
Larco subsequently challenged the imposition of the tax fine in the Greek courts.
Če gre pri ugotovljenih ukrepih za državno pomoč, bi njihova odobritev pomenila kršitev obveznosti priglasitve in mirovanja, ki ju določa člen 108(3) Pogodbe.
According to Greek law [10], an entity liable for a tax fine must pre-pay 25 % of the amount in question, in order to challenge the imposition of the tax fine in court (in this case the 25 % would amount to EUR 47 million).
PRIPOMBE GRČIJE
However, in the case of Larco, a Greek administrative court decided to alleviate the company from the obligation to pre-pay 25 % of the tax fine, replacing it with the obligation to deposit letters of guarantees of just EUR 1,5 million.
Podjetje v težavah
Measure 6:
Grški organi so v svojih pripombah v okviru formalnega postopka preiskave trdili, da družba Larco ni bila podjetje v težavah v letih 2008 in 2009, saj so bile knjižene izgube posledica padca svetovne cene feroniklja v teh letih.
the 2011 State guarantees
Grški organi so trdili, da je družba Larco podjetje v težavah šele od leta 2010.
On 30 December 2011, the State provided two guarantees for two loans of EUR 30 million and EUR 20 million from ATE Bank.
Grški organi so trdili, da posojilo države družbi Larco niso bila državna sredstva, saj je šlo prvotno za zasebno posojilo, ki ga je dala Organisation for Entreprise Restructuring S.A. (organizacija za prestrukturiranje podjetij S.A., v nadaljnjem besedilu: OER).
One of the loans (of EUR 20 million) was overdue at the time the guarantee was granted.
Ko je bila OER likvidirana v skladu z zakonom 2741/1999, so bile njene terjatve prenesene na državo.
The guarantees provided 100 % coverage and had a premium of 1 % p.a.
Poleg tega so pojasnili, da je dogovor o poravnavi dolgov iz leta 1998 vseboval posebna pravila za obravnavo in izterjavo neplačanih dolgov, ki naj bi veljala na koncu vsakega poslovnega leta, in sicer:
Grounds for initiating the formal investigation procedure
če bi družba Larco imela dobiček med poslovnim letom, bi se pripisane obresti (6 % p.a.) najprej poplačale upnikom, preden bi se poplačala glavnica dolga;
In the decision of 6 March 2013 (recitals 18-25), the Commission reached the preliminary conclusion that Larco could be considered a firm in difficulty within the meaning of the Rescue and Restructuring Guidelines [11] since 2007.
po poplačilu obresti bi družba Larco obdržala določen znesek od dobička za naložbe;
Against that background, the Commission reached the preliminary conclusion that all six measures constituted State aid and it expressed doubts as regards their compatibility with the internal market.
po opravljenem iz točk (a) in (b), bi se preostali dobiček v računovodskih izkazih sorazmerno razporedil med upnike družbe Larco.
If the measures identified were to constitute State aid, they would have been granted in breach of the notification and stand-still obligations established in Article 108(3) of the Treaty.
Če družba Larco ne bi ustvarila nobenega dobička po 1999, so imeli upniki pravico, da terjajo plačilo svojega dolga na različne načine, kot so zapadlost plačila, kapitalizacija dolga itd. Vendar upniki niso bili upravičeni do prisilne izterjave neplačanega dolga, kot je zaseg premoženja družbe ali uvedba stečajnega postopka zoper družbo.
COMMENTS FROM GREECE
Do leta 2003 so upniki prejemali pripisane obresti, kot je bilo dogovorjeno.
Firm in difficulty
V obdobju 2004–2007 pa družba Larco ni ustvarila nobenih dobičkov, zato ni prišlo do poplačila pripisanih obresti.
In its comments in the context of the formal investigation procedure, the Greek authorities argued that Larco was not a firm in difficulty during the years 2008 and 2009, because the registered losses were due to the decrease of the global price of ferronickel during those years.
Družba PPC je leta 2007 z družbo Larco sklenila sporazum o surovinah, s katerim so se strinjali vsi upniki in na podlagi katerega je družba Larco dobavljala lignit družbi PPC in s tem ustrezno zmanjševala dolg.
The Greek authorities claimed that Larco has only been a firm in difficulty since 2010.
Dolg do družbe PPC je bil leta 2011 v celoti poravnan.
The Greek authorities argued that the credit of the State towards Larco did not amount to State resources, since it was originally a private credit provided by the Organisation for Enterprise Restructuring S.A.
Stečajni upravitelj stare družbe Larco je šel v izterjavo dolga po sodni poti in očitno so bili nekateri zneski že plačani.
(‘OER’).
V zvezi z neposrednim dolgom družbe Larco do grške države je država družbi Larco redno pošiljala račune za letni znesek dolga, vključno z letnimi pripisanimi obrestmi.
When OER was liquidated, according to Law 2741/1999, all its claims were transferred to the State.
Zato so grški organi trdili, da pri dolgu, ki izhaja iz dogovora iz leta 1998, ne bi moglo iti za državna sredstva in da v nobenem primeru ni šlo za selektivno prednost v korist družbe Larco.
a. if Larco had profits during a financial year, the interest accrued (6 % p.a.) would be repaid to the creditors first, before the repayment of the debt's principle;
Po mnenju grških organov:
b. after any repayment of interest, Larco would keep a certain amount from the profits for investments;
družba Larco ni bila podjetje v težavah, ko je bilo poroštvo dano;
c.
obseg poroštva je bilo mogoče pravilno določiti ob njegovi dodelitvi;
After applying (a) and (b), any remaining profit in Larco's accounts would be allocated proportionally to Larco's creditors.
poroštvo je bilo dano za zavarovanje dolga (posojilo z izdajo obveznic) in je torej lahko preseglo 80 % neplačanega dolga;
If Larco did not make any profits after 1999, the creditors had the right to pursue the repayment of their debt through various means, such as considering the payment due, capitalising the debt etc.
dstotna premija, plačana za poroštvo, je bila tržno naravnana cena, ki je odražala finančni položaj družbe Larco.
However, the creditors were not entitled to any forced execution of the outstanding debt, such as seizing the company's assets or forcing the launch of the bankruptcy procedure against the company.
Grški organi so torej zatrjevali, da državno poroštvo leta 2008 ni bilo državna pomoč.
Until 2003, the creditors received the accrued interest, as agreed.
Grški organi so pojasnili, da je bil ukrep št. 2 sprejet na podlagi ministrske odločbe YA 2/93378/0025 z dne 22. decembra 2008 in da je pokril točen znesek 30000000 EUR.
For the period 2004-2007, Larco did not make any profits and there was therefore no repayment of the interest accrued.
Grški organi so trdili, da je bil namen udeležbe države v dokapitalizaciji zaščititi vrednost družbe glede na prihajajočo privatizacijo in zaradi izvedbe načrta prestrukturiranja.
In 2007 PPC concluded a raw material agreement with Larco, agreed by all creditors, whereby Larco provided lignite to PPC, which reduced the debt accordingly.
Država je pri svoji odločitvi upoštevala potencialno rast družbe Larco, vrednost njenega premoženja in splošen položaj na trgu feroniklja ter ukrepe prestrukturiranja in zniževanja stroškov.
The debt to PPC was completely eliminated in 2011.
Banka NBG je prispevala 31 % k dokapitalizaciji.
The administrator of Old Larco has been pursuing the collection of the debt through judicial means and it appears that certain amounts have already been paid.
Drugače od države se je banka NBG odločila, da le deloma uveljavlja svoje pravice.
By 2011, Old Larco had collected EUR 5 million of its outstanding debt under the 1998 agreement.
Grški organi so trdili, da je bil cilj banke NBG ohraniti določen nadzor nad družbo in se torej njenih ukrepov ne sme obravnavati kot pomanjkanje zaupanja v prihodnost družbe Larco.
Since Old Larco also has debts towards the Greek State, the latter collected the entire amount of those EUR 5 million.
Banka NBG je zares zmanjšala svojo udeležbo v družbi Larco na minimum, ki je v skladu z grškim pravom potreben za veto glede določenih pomembnih odločitev upravnega odbora.
As regards Larco's direct debt to the Greek State, the State has regularly sent invoices for the annual amount of the debt, including the annual accrued interest, to Larco.
Tretji delničar, družba PPC, se je izrecno odločil, da ne bo sodeloval v dokapitalizaciji in tako sprejel, da se bo njegov delež zmanjšal.
Thus, the Greek authorities argued that the debt stemming from the 1998 agreement could not amount to State resources and in any event that there was no selective advantage in favour of Larco.
Grški organi so trdili, da družba PPC ni sodelovala, ker je bil njen namen omogočiti državi, da ima večji večinski delež zaradi privatizacije družbe.
The Greek authorities invoked the Guarantee Notice [12] and in particular Section 3.2 of the Notice, which includes the conditions, under which the Commission can rule out the presence of State aid in an individual guarantee.
Na koncu so grški organi trdili, da je država delovala kot vlagatelj v tržnem gospodarstvu in da torej dokapitalizacija leta 2009 ni bila državna pomoč.
According to the Greek authorities:
V zvezi z datumom dodelitve grški organi niso dali odločilnih informacij.
a.
Iz zapisnika skupščine delničarjev je razvidno, da je grška država 15. aprila 2009 prispevala 15000000 EUR k dokapitalizaciji na podlagi dokumenta ministrstva za finance Οικ2/27694/0025 ob upoštevanju celotnega prispevka države k dokapitalizaciji, ki je znašal 44999999,40 EUR.
Larco was not a firm in difficulty at the time of the guarantee was granted;
Iz računovodskega izkaza družbe Larco za leto 2009 je razvidno, da je bil sklep o dokapitalizaciji sprejet 14. maja 2009, vendar ne pojasnjuje, kdaj je bil novi kapital dejansko vložen.
b. the extent of the guarantee could be properly measured when it was granted;
Grški organi so pojasnili, da je stara družba Larco glede na dogovor iz leta 1998 terjala poplačilo dolga družbe Larco pred grškimi sodišči in da obstaja vrsta sodb in razveljavitev, med drugim v zvezi z dolgom v višini približno 10,5 milijona EUR [13].
c. the guarantee was granted for a debt security (bond loan), and could therefore exceed 80 % of the outstanding loan;
V okviru pritožbe družbe Larco je grško vrhovno sodišče zaradi nevarnosti nepopravljive škode začasno odložilo plačilo dolga v višini približno 10,5 milijona EUR do pravnomočne sodbe ustreznega sodišča.
d. the 1 % premium paid for the guarantee was a market-oriented price, reflecting Larco's financial standing.
Odlog je bil odobren pod pogojem, da družba Larco predloži bančno garancijo stari družbi Larco za odložen znesek.
Thus, the Greek authorities argued that the 2008 State guarantee did not constitute State aid.
Banka NBG je izdala bančno garancijo družbi Larco za približno 10,8 milijona EUR (10,5 milijona EUR za prvotno izpodbijani dolg + 0,3 milijona EUR za pravne stroške).
The Greek authorities clarified that measure 2 was granted by virtue of the ministerial decision YA 2/93378/0025 dated 22 December 2008 and covered the exact amount of EUR 30000000.
Bančna garancija pa je bila krita z državnim poroštvom za celoten znesek skupaj s premijo v višini 2 % p.a. za neomejeno obdobje.
The Greek authorities argued that the State's participation in the capital increase was intended to protect the value of the company, in view of its upcoming privatisation and in order to implement a restructuring plan.
Grški organi so pojasnili, da je ukrep sprejela država kot delničar z namenom izpolnitve pogojev odloga in zaščite svoje naložbe pred zapadlimi dolgovi.
In its decision, the State took into account the potential growth of Larco, the value of its assets and the general situation in the ferronickel market as well as restructuring and cost-cutting measures.
Sicer odlog ne bi veljal in bi stara družba Larco imela pravico do izterjave dolga, lahko tudi z zasegom premoženja družbe Larco.
NBG contributed 31 % of the capital increase.
Družba Larco bi lahko potem postala insolventna.
Unlike the State NBG decided to exercise its rights only in part.
Po mnenju grških organov banka NBG ne bi izdala bančne garancije brez državnega poroštva.
The Greek authorities argued that NBG's objective was to maintain a certain control over the company and thus its actions should not be viewed as a lack of trust in Larco's future.
Grški organi so pojasnili, da je bil ukrep št. 4 sprejet na podlagi ministrske odločbe YA 2/923/0025 z dne 10. maja 2010 in da je pokril točen znesek 10510824,95 EUR in 310000 EUR za pravne stroške, torej skupaj 10820824,95 EUR.
Indeed, NBG reduced its shareholding in Larco to the minimum necessary under Greek law in order to have a veto over certain important decisions in the Board of Directors.
Grški organi so pojasnili, da se zadevni ukrep nanaša na dodatni davek, in ne na davčno globo.
The third shareholder, PPC, explicitly decided not to participate in the capital increase, accepting that its shareholding would be diluted.
Dodatni davek se je naložil, ker se davčni organi niso strinjali, da bi bilo treba izgube iz pogodb o varovanju pred tveganjem odbiti od neto dohodkov družbe Larco, kot je trdila družba Larco.
The Greek authorities argued that PPC did not participate because its intention was to allow the State to have a larger shareholding majority, in view of the privatisation of the company.
Grški organi so prav tako pojasnili, da je sodišče pozvalo družbo Larco, da predloži bančne garancije v skupni vrednosti 4,7 milijona EUR.
In conclusion, the Greek authorities argued that the State acted like a market economy investor and that, therefore, the 2009 capital increase did not constitute State aid.
Grški organi so predložili dokaz, da je bilo družbi Larco dovoljeno nadomestiti predplačilo dodatnega davka z bančnimi garancijami na podlagi splošnega zakonskega predpisa.
As regards the granting date, the Greek authorities did not provide conclusive information.
V sodbi sodišča, s katero je bilo družbi Larco dovoljeno, da nadomesti predplačilo dodatnega davka z bančnimi garancijami v skladu z nacionalnim zakonom [14], je bil uporabljen test tehtanja, upoštevajoč koristi upnika (država) in sposobnost preživetja dolžnika (družba Larco), in sodišče je odločilo, da začasno odloži obveznost vnaprejšnjega plačila 47 milijonov EUR (to je 25 % dodatnega davka) in jo nadomesti z bančnimi garancijami v skupni višini 4,7 milijona EUR.
The minutes of the shareholders meeting show that the Greek State provided EUR 15000000 towards the capital increase on 15 April 2009, by virtue of the document Οικ2/27694/0025 of the Ministry of Finance in view of the total contribution of the State to the share capital increase, which amounted to EUR 44999999,40.
Ta odlog naj bi veljal, dokler se ne izda pravnomočna sodba v zvezi s postopkom, ki ga je začela družba Larco zoper državo zaradi naložitve dodatnega davka.