natgillin/translations-raw huggingface dataset:
Furthermore, an interest free loan with no fixed maturity of the Land to NG of EUR 40405000 for the offsetting of liabilities related to Formula 1 under the liquidity pool was provided on 11 January 2011.
Stečajna upravitelja sta se odločila za naslednjo prodajno strukturo za prodajo sredstev podjetij NG, MSR in CMHN ter jo izvedla.
In addition, in July 2011, the Land provided to NG a grant of EUR 13,5 million for the organisation of Formula 1 races in 2011.
Za namene razpisnega postopka so bila sredstva podjetij NG, MSR in CMHN razdeljena v 11 posameznih skupin sredstev [67].
Measure 17 (Formula 1 concession):
V objavljenem razpisu za prijavo interesa je bilo navedeno:
On 13 December 2010, a concession agreement regarding the organisation of Formula 1 race events was concluded between NG and NAG [62].
„Prodajalci nameravajo prodati sredstva enemu ali več vlagateljem ('Projekt RING').
In this concession agreement, NG asked NAG to organise the Formula 1 races and committed itself to provide compensation [63].
Vlagatelji bodo imeli možnost pridobiti vsa sredstva, določene skupine sredstev ('predlagane skupine sredstev') ali posamezna sredstva.
Pursuant to Germany, on the basis of this agreement, NAG was supposed to receive financial means which would not be taken into account for the calculation of the rent under the business lease contract concluded between NG and NAG, but no payments were actually made between NG and NAG.
Predlagane skupine sredstev so bile določene na podlagi ločljivosti sredstev in povezanih stroškov.
On the basis of the settlement contract concluded between NG, MSR, CMHN, CST, NBG and the insolvency administrator on the one side and NAG, Mediinvest and other companies on the other side on 27 November 2012, the concession was terminated.
Predvideva se, da bo transakcija strukturirana kot odkup sredstev.
Measure 18 (rescheduling of interest payments agreed by ISB in favour of NG, MSR and CMHN):
Poleg tega je bilo v pismu, ki je bilo 19. julija 2013 poslano zainteresiranim vlagateljem, navedeno:
On 15 May 2012, ISB made a deferral of interests due on 30 April 2012 until 15 November 2012 in the amount of EUR 2,98 million (including a deferral of compensation in the amount of EUR 48913,78 for an unspent part of the loan).
„Vlagatelji bodo imeli možnost, da pridobijo vsa sredstva prodajalcev, določene skupine sredstev ('predlagane skupine sredstev') ali posamezna sredstva.
For the rescheduled amounts, an interest rate of 8,17 % per annum was charged.
Predlagane skupine sredstev so bile določene na podlagi ločljivosti sredstev Nürburgringa in povezanih stroškov“ [69].
The exact distribution of the deferral of interests to the individual companies is EUR 1,473 million for NG, EUR 1,205 million for MSR and EUR 303000 for CMHN.
Stečajna upravitelja nista določila nobenih pogojev glede prihodnje uporabe sredstev.
Measure 19 (debt subordination and guarantee):
Kakršne koli omejitve te uporabe izhajajo iz obstoječe gradbene in okoljske zakonodaje ter javnega dostopa do dirkališča Nürburgring, ki je zagotovljen z ustreznim aktom zvezne dežele.
On 15 May 2012, the Land declared debt subordination regarding loans amounting up to EUR 254 million granted by ISB to NG, MSR & CMHN as part of the loan of EUR 325265000 (measure 8).
Ta merila so bila podrobneje opisana, kot sledi:
Furthermore, as regards repayment of those loans from 2014 on, in case NG, MSR and CMHN should not be able to pay, on 15 May 2012, the Land declared that these companies will be released from their obligation to pay and that the Land would honour its guarantee previously given to ISB (measure 9).
Nadalje je bilo pojasnjeno, da:
GROUNDS FOR INITIATING AND EXTENDING THE FORMAL INVESTIGATION PROCEDURE
Po navedbah stečajnih upraviteljev so prodajalci obvestili ponudnike, da lahko izboljšajo ponudbo ali predložijo novo ponudbo v času od izteka roka do sklenitve prodajne pogodbe.
The tender process was announced on 14 May 2013 with a press release issued by the insolvency administrator.
Na podlagi njunih ponudb sta bili vzporedno dogovorjeni in overjeni pogodbi, in sicer pogodba z [drugim ponudnikom] 7. marca 2014, pogodba s podjetjem Capricorn pa 10. marca 2014.
In the tender process, the interested parties were invited to submit an expression of interest (around 70 entities expressed their interest) and after being provided with various documentation on the Nürburgring they were requested to submit an indicative offer until 26 September 2013.
Delničarja podjetja Capricorn sta capricorn HOLDING GmbH [75] s 67-odstotnim deležem in GetSpeed GmbH & Co KG [76] s 33-odstotnim deležem.
‘The Vendors have decided to extend the deadline for Indicative Offers, in order to enable potential investors to complete their analysis of the provided material.
Ta pogoj je bil namenjen pokritju razlike med ceno sredstev v višini 77 milijonov EUR in finančnim tveganjem, ki so ga ta sredstva vključevala in izhaja iz možne odgovornosti za vračilo državne pomoči v višini 456 milijonov EUR na podlagi sklepa Komisije o začetku formalnega postopka preiskave z dne 21. maja 2012 in sklepa Komisije o razširitvi tega postopka z dne 7. avgusta 2012.
The updated deadline now ends at 5 p.m.
Družba NBG bo upravljala posle v sezoni 2014.
CET on 26 September 2013.
Nato je predvidena likvidacija te družbe.
For the tender process, the assets of NG, MSR and CMHN were split in 11 individual asset clusters [67].
Po začetku veljavnosti sklepa Komisije bo skrbnik prenesel vse svoje delnice podjetja NewCo na kupca.
According to the published call for expression of interest:
Če pa kupec ne bo izpolnil svojih pogodbenih plačilnih obveznosti, bo lahko skrbnik prodal sredstva.
The Proposed Asset Clusters have been defined based on the separability of assets and related costs.
Komisija ugotavlja, da ta ureditev ne spreminja osnovnih pogojev prodaje, vključno s prodajno ceno in plačilnimi pogoji, ki ostajajo enaki [79].
It is intended that the transaction will be structured as an asset deal.
PRIPOMBE NEMČIJE
All third party and financing liabilities will remain with the insolvent legal entities allowing a new start on a clean balance sheet’ [68].
PODJETJE V TEŽAVAH
Also, according to the letter sent to the interested investors on 19 July 2013:
Nemčija je v svojih pripombah glede formalnega postopka preiskave trdila, da podjetje NG 1. julija 2008 [80] ali ob odobritvi posojila ISB v višini 325265000 EUR 28. julija 2010 ni bilo podjetje v težavah [81].
‘Investors will have the opportunity to acquire the assets of the Vendors in either their entirety, or in defined asset clusters (“Proposed Asset Clusters”), or in individual assets.
V zvezi s položajem podjetij NG, MSR in CMHN v obdobju od maja 2012 do julija 2012 in razširitvijo formalnega postopka preiskave Nemčija trdi, da Komisija ni upoštevala insolventnosti podjetij NG, MSR in CMHN kot nepopravljive posledice odločitve Komisije v predhodnem postopku [82], da ne bo odobrila pomoči za reševanje, in da je zato kršila načelo sorazmernosti [83].
Proposed Asset Clusters have been defined based on the severability of assets of the Nürburgring and related costs’ [69].
Nemčija trdi tudi, da je podjetje NG zgradilo infrastrukturo in predvsem organiziralo dirke formule 1 in Superbike v imenu javnega sektorja [84] ter da se te dejavnosti zato ne smejo upoštevati pri analizi gospodarskega stanja podjetja, njegovi opredelitvi kot podjetja v težavah in uporabi načela o enkratni pomoči [85].
According to the tender's Selection Criteria, as defined in the letters sent to the interested investors on 19 July 2013 and 17 October 2013, the investors would be selected based on:
GOSPODARSKA DEJAVNOST
a maximisation of the total proceeds for all of the assets;
Po navedbah Nemčije izgradnja tribun, večnamenskih dvoran, struktur za dostop ter zanimivosti, ki ponujajo izobraževanje in zabavo (I. del [87] projekta Nürburgring 2009), ni gospodarska dejavnost, in sicer zaradi dejstev, da sodbe v zadevi Leipzig/Halle [88] ni mogoče uporabiti za gradnjo splošne (regionalne in športne) infrastrukture [89], da zgrajeni objekti izpolnjujejo merila iz bele knjige Komisije o športu iz leta 2007 (večnamenska uporaba, nediskriminatoren dostop itd.), da zasebni vlagatelj ne bi izvedel takega projekta ter da zasebni subjekti običajno ne gradijo dirkališč, saj je njihova donosnost premajhna [90].
and (b) the expected transaction security [70].
V zvezi z dogodki formule 1 Nemčija meni, da iz strukturnih razlogov načeloma ustvarjajo primanjkljaj, da teh dogodkov ni mogoče šteti za redno poslovanje podjetja NG, saj so kljub javni podpori prinesli negativni rezultat podjetja NG, da podjetje teh dogodkov ne bi organiziralo brez pričakovanj glede javnega financiranja ter da so se javni organi odločili za financiranje dogodkov formule 1 prek podjetja NG pod tržnimi pogoji in iz razlogov regionalne politike [91].
‘Value for the assets in scope of the respective offer; Potential value implications for those assets that are not included in the respective offer, if any; Costs for further separation of the assets in scope of the respective offer, if any; Costs to fulfil key assumptions and conditions of the respective offer; Closing probability’.
Če gre za pomoč, Nemčija trdi, da so merila za storitve splošnega gospodarskega pomena izpolnjena.
It was further explained that:
SELEKTIVNOST
‘the closing probability will be assessed by taking into consideration the (i) outstanding due diligence requirements; (ii) secured financing for the transaction, supported by confirmation of financing partners; (iii) required steps for the regulatory clearance; (iv) required internal approval steps until the transaction could be consummated; and (v) strategic rationale for the acquisition or future plans for the assets of the NG, MSR and CMHN and the likelihood of their realisation’.
Nemčija trdi, da tudi če je financiranje ukrepov gospodarska dejavnost, ta ni selektivna, saj merila iz bele knjige o športu iz leta 2007 niso izpolnjena (uporabnikov je več, dostop ni diskriminatoren, uporaba je večnamenska in najemnina temelji na razumnih tržnih cenah, infrastrukture ne zagotavlja trg, saj to ne bi bilo ekonomično, odgovorni pa so javni organi).
By letters of 17 October 2013 and 17 December 2013, the bidders that submitted qualified offers were informed that: (a) indicative or final, respectively, offers would be considered even if submitted after the expiry of the respective deadlines, provided that the terms of the offers qualify for the further process;
Nemčija priznava, da ni našla dolgoročnega zasebnega vlagatelja, ki bi vlagal v projekt Nürburgring 2009.
disadvantages caused by late submission would be fully borne by the bidder in question;
V zvezi z ukrepom 1 (vplačila v kapitalsko rezervo in povečanje kapitala avgusta 2004, decembra 2004 in septembra 2007) Nemčija trdi, da vprašanje prednosti ni pomembno, saj cilj ukrepa ni bil gospodarska dejavnost.
and (c) the sellers could choose the qualified bidders shortly after the expiry of the deadline.
V zvezi z ukrepom 2 Nemčija trdi, da višina obresti na posojila, ki jih je podjetje NG odobrilo svojim hčerinskim družbam (6 %), ne pomeni prednosti za te hčerinske družbe, saj je primerljiva z obrestmi na posojila na trgu.
According to the insolvency administrators, the bidders were informed by the sellers that they could improve an offer or submit a new offer between the deadline and the conclusion of the sales contract.
Nemčija je navedla tudi, da so se posojila, ki jih je banka ISB prejela iz združenih likvidnih sredstev zvezne dežele, uporabila izključno za refinanciranje posojil banke ISB podjetju NG (glej tudi uvodno izjavo 70) in da se tržni pogoji zvezne dežele iz transakcij iz združenih likvidnih sredstev niso prenesli na podjetje NG kot dolžnika.
24 candidates [71] sent an indicative bid until the beginning of February 2014.
V zvezi z ukrepom 4 (posojilo, ki ga je podjetje NG zagotovilo podjetju MSR) Nemčija navaja, da se zdi 7-odstotna obrestna mera skladna s tržnimi obrestnimi merami.
Of these candidates, 18 were allowed to proceed to the due diligence stage [72], and 13 bidders submitted confirmatory offers for all or individual asset clusters or individual assets, including offers for all assets from four bidders:
Ker bi umik podjetja NG iz projekta ogrozil pravočasno vzpostavitev sistema izdaje vstopnic in po vsej verjetnosti razvrednotil prejšnje naložbe podjetja NG, je bilo za to podjetje bolje, da vztraja pri načrtovanem projektu pod spremenjenimi pogoji, zlasti ker je bilo mogoče glede na poslovni načrt pričakovati primerno donosnost in ker je podjetje NG prejelo zavarovanja od podjetja NG.
Capricorn Automotive GmbH and Capricorn Holding GmbH (‘Capricorn’); (2) [Bidder 2]; (3) [Bidder 3]; (4) [Bidder 4].
V zvezi z ukrepom 6 (plačilo podjetju IPC in posojilo podjetju MSR prek podjetja PNG kot posrednika) Nemčija trdi, da sta prejemnika prejela plačili kot plačilo za storitve in kot posojilo pod pogoji, enakovrednimi tržnim.
The bids were considered on the basis of: (a) maximisation of the total proceeds for all of the assets;
Nemčija v zvezi z ukrepom 7 (odstop terjatev podjetja MIB do CST podjetju NG) ne obravnava vprašanj glede morebitne prednosti.
and (b) the expected transaction security [73].
V zvezi z ukrepom 8 (posojilo banke ISB podjetjem NG, MSR in CMHN) Nemčija navaja, da banka ISB ni ravnala neodvisno (pod tržnimi pogoji) kot (ločeno) podjetje, ampak kot razvojna banka, ki prejema izrecna navodila uprave zvezne dežele in je njen del [94].
The bids which fulfilled these criteria were considered in the final stage of evaluation;
Po navedbah Nemčije načela Dogovora II veljajo za refinanciranje posojila banke ISB [95] prek udeležbe te banke v združeni likvidnosti, ta udeležba pa zato ne vključuje pomoči v korist banke ISB [96].
those were bids for all asset clusters.
Nemčija v zvezi z ukrepom 9 (poroštvo zvezne dežele banki ISB v zvezi z ukrepom 8) navaja, da zadevno poroštvo zagotavlja delitev tveganja v notranjem razmerju med banko ISB in zvezno deželo, ne zagotavlja pa nobene prednosti za prejemnike posojila (podjetja NG, MSR in CMHN), saj ni izboljšalo pogojev tega posojila [97].
Of those bidders, Capricorn and [Bidder 2] submitted confirmations of their access to the funding necessary for the purchase:
V zvezi z ukrepom 10 (pogodba o poslovnem najemu, sklenjena 25. marca 2010) je Nemčija 29. septembra 2011 predložila strokovno mnenje o najemnini za poslovni najem kompleksa Nürburgring, ki ga je naročila zvezna dežela in v katerem so bile navedene najnižje in najvišje letne najemnine, skladne s tistimi na trgu.
on 7 March 2014, [Bidder 2] submitted a binding letter dated 24 February 2014, informing KPMG of its financial capabilities;
Nemčija trdi, da je pričakovana najemnina glede na navedeno strokovno mnenje 20 % višja od najvišje tržne ravni ter da bi taka najemnina pokrila stroške najemodajalca za izgradnjo v višini 330 milijonov EUR in ustvarila razumen dobiček [98].
and on 11 March 2014, Capricorn submitted to the sellers a binding letter by […] dated 10 March 2014, addressed to Capricorn, informing the latter that […] was willing to underwrite a loan of EUR 45 million to Capricorn for the purpose of the acquisition of the assets in question.
V zvezi s posojili v okviru ukrepa 11 (posojila, ki jih je podjetje RIM odobrilo podjetju MSR, pri čemer sta podjetji Mediinvest in PNG delovali kot posrednika), s katerimi je bil financiran II. del projekta „Nürburgring 2009“, Nemčija trdi, da so ta posojila v skladu z načelom vlagatelja v tržnem gospodarstvu in da ne vključujejo prednosti, saj so zaračunane obrestne mere višje od veljavnih referenčnih obrestnih mer (razen dveh posojil z dne 12. novembra 2008 in 22. decembra 2008).
On the basis of their offers, contracts were negotiated in parallel and notarised, with [Bidder 2] on 7 March 2014 and with Capricorn on 10 March 2014.
Nemčija glede ukrepa 12 (poroštvo zvezne dežele za posojila podjetja RIM podjetju MSR, pri katerih je bilo podjetje Mediinvest posrednik, v okviru ukrepa 11) navaja, da poroštvo zvezne dežele zagotavlja prednost samo prejemnikom posojil, ne pa banki ISB ali podjetju RIM, saj je bilo navedeno poroštvo pogoj za odobritev posojila.
On 11 March 2014, the Creditors' Committee of the insolvent companies approved the sale to Capricorn (specifically to capricorn NÜRBURGRING Besitzgesellschaft GmbH), as the one with the highest offer including a proof of financing.
V zvezi z ukrepoma 13 in 14 (nepovratna sredstva od davka na igre na srečo za spodbujanje turizma [99] in posojila zvezne dežele) Nemčija ne trdi, da sta skladna z načelom vlagatelja v tržnem gospodarstvu.
In particular, the offer of Capricorn was at a price of EUR 77 million, whereas the offer of [Bidder 2] was at a price of EUR [47-52] million.
Ukrep v zvezi z davkom na igre na srečo opisuje kot nadomestilo za infrastrukturne stroške v zvezi s spodbujanjem turizma.
The sales contract with Capricorn was signed by NG, MSR and CMHN on 11 March 2014 and by the insolvency administrator on 13 March 2014 [74].
V zvezi s podreditvijo dolga Nemčija trdi, da ima zgolj deklaratorni učinek, saj se vsako delničarsko posojilo v postopku zaradi insolventnosti v vsakem primeru podredi, da ima navedena podreditev zato samo morebiten učinek na javni proračun in da zato ne pomeni prednosti [100].
Following the tender process described above, the assets of NG, MSR and CMHN (all tangible and intangible assets including all land, buildings, trademarks and internet domain rights), but not any liabilities and financial assets, were bought by Capricorn.
ni vključeval nobenih drugih prednosti, kot je preklic delničarskih posojil ali poroštev delničarja;
The shareholders of Capricorn are capricorn HOLDING GmbH [75] with 67 % of the shares and GetSpeed GmbH & Co KG [76] with 33 % of the shares.
V zvezi z ukrepom 16 (financiranje izgub podjetja NG zaradi dirk formule 1 s strani zvezne dežele) Nemčija navaja, da ni gospodarska dejavnost in da financiranje dogodkov formule 1 na splošno ni donosno.
The transfer of the employment contracts associated with the tendered asset clusters follows from German law [77] and German labour courts jurisprudence [78], which foresee that the employees are automatically transferred to the buyer of the assets, but that in an insolvency context the buyer can request from the insolvency administrator to terminate employment contracts.
Glede ukrepa 17 (koncesijska pogodba za formulo 1) Nemčija trdi, da je povezan s pogoji pogodbe o poslovnem najemu.
In the case at hand, the sales contract foresees that NBG (the current operator of the Nürburgring complex) would in 2014 terminate employment contracts upon request of Capricorn.
Nemčija trdi, da je treba ob upoštevanju tega, da je najemnina občutno višja ([…] %) od tržne ravni, za obe pogodbi šteti, da sta v celoti uravnoteženi (vključno s koristmi, ki jih je koncesijska pogodba zagotovila podjetju NAG) [101].
Indeed, the latter concluded that, in order to achieve an economically viable operation of the acquired assets, it would need 253 of the total 297 employees (as of beginning of 2014), and thus requested NBG to terminate the employment contracts of 44 employees.
Ukrepi, zajeti v sklepu z dne 7. avgusta 2012 [102]
As a result, 85 % of the total staff of the insolvent companies will be transferred to Capricorn on 1 January 2015 (date when Capricorn will start operating the acquired assets).
V zvezi z ukrepom 18 (odložitev dolga) Nemčija navaja, da je bil nujen za preprečitev preteče insolventnosti in da bi ga izvedel tudi zasebni delničar.
The parties to the sales contract are obliged to implement it only upon the existence of a Commission decision declaring that neither the buyer nor its operational company are beneficiaries of the aid under assessment subject to recovery, and: (a) either the delays to bring a legal challenge against the Commission decision have expired without an appeal;
Nemčija glede ukrepa 19 (podreditev dolga in poroštvo) trdi, da ne pomeni niti dejanskega niti morebitnega bremena za javni proračun, da bi ga izvedel tudi zasebni delničar in da podreditev dolga ni imela posledic za delničarje, saj ni bilo dodatnih upnikov z visokimi terjatvami.
or (b) in case of an appeal, a not further challengeable court judgment has been rendered confirming the Commission decision.
IZKRIVLJANJE KONKURENCE IN VPLIV NA TRGOVINO
This condition aimed at covering the discrepancy between the assets' price of EUR 77 million and the financial risk they carried, stemming from the possible liability from a State aid recovery of EUR 456 million based on the Commission decisions of 21 May 2012 and 7 August 2012 to open and extent, respectively, the formal investigation procedure.
Nemčija trdi, da ukrepi v korist hotelov in restavracij nimajo morebitnih učinkov na trgovino med državami članicami [103].
The business in the season 2014 will be run by NBG.
ZDRUŽLJIVOST
It represents, in form of a flat-fee, a part of the sales price in order to facilitate the handling of the contract.
Združljivost pomoči v skladu s členom 107(3)(c) PDEU
As regards the beneficiaries NG, MSR and CMHN, in the context of their insolvency proceeding, they have definitely ceased all activities and do not employ any personnel.
Cilj skupnega interesa
In order to run the business in the season of 2015, the buyer (Capricorn) will establish the operating company capricorn NÜRBURGRING GmbH (‘OpCo’) that will conclude contracts for the season 2015.
Uporablja se tudi za druge športne prireditve, kot so kolesarske dirke (Rad&Run), tekaške prireditve (Fisherman's Friend StrongmanRun) in triatlon (Green Hell Triathlon).
With a view to ensuring that the aid beneficiaries will definitively disappear from the market, the Commission was informed of the following measures.
Nujnost in sorazmernost ukrepov
If there is no non-challengeable Commission decision at the beginning of 2015, the sold assets will be transferred before 1 January 2015 to a new company (‘NewCo’) in which 95,1 % of the shares will be owned by the buyer and 4,9 % by an independent trustee.
Nemčija trdi, da so ukrepi nujni zaradi naslednjih razlogov:
The trustee will be acting in the interests of the creditors and not of the insolvent beneficiaries of State aid, but will not be subject to instructions by the creditors.
od […] prireditvenih dni se Nürburgring uporablja za poklicni šport samo ob […], za amaterski šport ob […], za amaterski in poklicni šport pa ob […].
Furthermore, a lease contract will be concluded between NewCo and OpCo, terminating on the date of entry into force of the sales contract.
Amaterskih športnikov je več kot […] ([…] poklicnih športnikov v primerjavi s […] amaterjev).
The business of the OpCo will be run under its name, on the basis of its own business plan and with the workforce of its own choice (see recital 53 above).
Neamaterski dogodki vključujejo dirke formule 1, Deutsche Tourenwagen Meisterschaft, svetovno prvenstvo Superbike, glasbeno prireditev Rock am Ring in preskusne vožnje proizvajalcev avtomobilov.
There will be a lease fee of totally EUR [4,6-5,1] per year to be paid to NewCo, which will serve the liquidation mass of the Nürburgring companies (all payments in favour of the insolvency estate are transferred to the trust accounts of the insolvency administrators, solely in order to be distributed to the creditors).
Amaterji se lahko po dirkališču vozijo s svojimi avtomobili.
When the decision of the Commission becomes effective, the trustee will transfer all his shares in NewCo to the buyer.
Ob koncih tedna so organizirana amaterska tekmovanja velikih nemških moto športnih združenj (kot je ADAC).
On the other hand, if the buyer does not fulfil its contractual payment obligations, the trustee will be able to sell the assets.
Med tednom posamezni klubi uporabljajo steze za treninge ali amaterska tekmovanja.
In addition, should an annulment of the Commission decision take place, the assets will return to the insolvency administrators in order to be sold immediately, since the liquidation obligation of German insolvency law continues to exist even in such case.
V moto športu ni ločene infrastrukture za poklicni in amaterski šport.
There is no option of continuing the business of the Nürburgring companies by NewCo.
Poleg tega so preiskovani ukrepi namenjeni odpravi nedelovanja trga.