natgillin/translations-raw huggingface dataset:
With regard to the 2012 capital increase for the commercial segment, Latvia clarified that that increase took place in two parts: the first one was linked to the sale of Bundles 1, 2, 3, 5 and 6 while the second one was linked to the sale of Bundle 4.
Opozoriti je treba, da je za ocenjevanje ukrepov, ki koristijo komercialnemu segmentu banke, pomembno, da se ugotovi, ali in v kakšni meri se bo gospodarska dejavnost nadalje izvajala ali ukinila po prodaji sredstev komercialnega segmenta in obveznosti [23].
The amount of capital was kept to the minimum and calculated to ensure regulatory capital adequacy for the commercial segment following the losses from the sale.
V zvezi s tem Komisija ugotavlja, da so se gospodarske dejavnosti nekdanjega komercialnega dela banke ukinile s prodajo svežnjev 3A (zasebnemu vlagatelju), 3B in 4 (latvijski agenciji za privatizacijo za postopno razrešitev) do 30. junija 2013.
As regards the standby liquidity facility granted in the context of restructuring, Latvia submitted that the support to the commercial segment was of a temporary nature to ensure the orderly sale.
Prav tako je treba omeniti, da je bil velik delež sredstev, ki jih je v preteklosti upravljala družba Hipo Fondi, prodan ločeno od navedene družbe s prodajo sredstev.
Its small scale and temporary nature reduced the potential distortions of competition to the minimum, according to Latvia.
Komisija meni, da prodaja v svežnjih, ki je omogočila, da so različni kupci predložili ponudbe za ločene dele sredstev komercialnega segmenta in obveznosti banke, učinkovito prispeva k likvidaciji komercialnih dejavnosti banke.
Finally, Latvia undertook to submit monitoring reports on MLB's restructuring, including the wind-down of unsold commercial activities and an ex post valuation of the liquidation.
Omeniti je treba, da si je banka večkrat prizadevala prodati neprodana sredstva, ki se bodo na koncu prenesla na latvijsko agencijo za privatizacijo, pri čemer je preoblikovala svežnje in se z morebitnimi vlagatelji ponovno pogajala o ponudbah.
ASSESSMENT OF THE MEASURES
Zato se zdi, da je banka izčrpala vse razpoložljive možnosti na trgu za prodajo navedenih sredstev najslabše kakovosti po razumni ceni, tj. ceni, ki je višja od njihove dolgoročne ekonomske vrednosti, kot jo je ocenil ugledni zunanji svetovalec.
Existence of aid within the meaning of Article 107(1) of the Treaty
Latvija je prav tako predložila zadostne informacije v zvezi s pomožnimi komercialnimi dejavnostmi banke in navedla, da so že bile zaključene ali pa bodo zaključene v bližnji prihodnosti.
As set out in Article 107(1) of the Treaty any aid granted by a Member State or through State resources in any form whatsoever which distorts or threatens to distort competition by favouring certain undertakings or the production of certain goods shall, in so far as it affects trade between Member States, be incompatible with the internal market, save as otherwise provided.
Družba „poštni nabiralnik“ Hipo Fondi, ki bo ostala po prodaji sredstev, ki jih je upravljala, bo prodana v prihodnjih mesecih, prenehalo se bo poslovanje z vrednostnimi papirji, družba RIS, ki je v celoti holding in ima trenutno v lasti delnice družbe Hipo Fondi in dveh insolventnih družb, pa bo likvidirana.
Beneficiaries of aid
V skladu z načrti naj bi bilo dovoljenje za opravljanje bančnih storitev banke preklicano do 31. decembra 2013.
As set out in recital 145 of the opening decision, when assessing the measures in order to determine whether they constitute State aid, it is necessary to distinguish between the present and future development bank activities of MLB, on the one hand, and the residual commercial activities pursued by MLB during the transition (phasing-out) period, on the other hand.
Družba Hipolizings je bila z delniškim poslom prodana kot pravni subjekt.
Latvian authorities submitted the data demonstrating how the measures benefitted one segment or the other.
Latvija je trdila, da družbi Hipolizings kakršna koli podpora, dodeljena banki, ki je matična družba, ni neposredno koristila [24].
The scope of the present decision only covers measures granted to the commercial part of MLB.
V zvezi z morebitnim ukrepom finančne pomoči za oslabljena sredstva, opisanim v uvodnih izjavah 165 do 170 sklepa o začetku postopka, je treba opomniti, da so bila pred prodajo družbe Hipolizings najslabša sredstva banke interno prenesena družbi HipoNIA.
The terms of operation of the development part of MLB, which is expected to be continued by an as yet still to be established development institution will be assessed in a separate final decision.
V sklepu o začetku postopka je Komisija sklenila, da bi tak notranji prenos sredstev lahko pomenil ukrep finančne pomoči za oslabljena sredstva v korist družb Hipolizings in Hipo Fondi le, če sta imeli korist od takih prenosov in v kakšni meri sta jo imeli.
As a result, the present decision will assess only the measures granted by Latvia benefitting the commercial part of MLB in so far as they are needed for the restructuring of the commercial segment of MLB.
Ker je Latvija potrdila, da sredstva niso bila prenesena z družbe Hipolizings na družbo HipoNIA, se lahko sprejme sklep, da družba Hipolizings ni prejela finančne pomoči za oslabljena sredstva, ki bi neposredno koristila njenim dejavnostim.
It is recalled that to assess the measures benefitting the commercial segment of the bank, it is important to ascertain whether and to what extent the economic activity is continued or dissolved after the sale of the commercial assets and liabilities [23].
Vendar, kot priznava Latvija, ni mogoče izključiti, da je družbi Hipolizings v omejeni meri koristila pomoč, dodeljena banki, če obstoječih pogodbenih dogovorov družbe Hipolizings ni bilo treba nepričakovano prekiniti in je ni bilo treba prodati kot družbo, ki jo prodaja lastnik v težavah.
In that respect, the Commission finds that, with the sale of bundles 3A (to a private investor), 3B and 4 (to the LPA for gradual work out) by 30 June 2013, those economic activities of the former commercial part of MLB have been dissolved.
Zato je Komisija sprejela sklep, da je družbi Hipolizings koristila pomoč, dodeljena banki, čeprav posredno in v zelo majhni meri.
It is also noteworthy that a large share of assets formerly managed by Hipo Fondi was sold separately from that company by means of an asset sale.
V zvezi z družbo Hipo Fondi Komisija opaža, da je bila ob prodaji manjšinskemu delničarju le družba „poštni nabiralnik“.
The Commission considers that the sale in bundles, which allowed different buyers to bid for separate parts of commercial assets and liabilities of MLB, effectively contributes to the liquidation of the commercial activities of MLB.
Latvija je potrdila, da so bili preostali zasebni portfelji in zaprti naložbeni skladi, ki jih je upravljala družba Hipo Fondi, že zaprti, so v postopku prenehanja ali pa bodo likvidirani.
It is noteworthy that the bank attempted more than once to sell the unsold assets which are ultimately to be transferred to the LPA, repackaging the bundles and renegotiating the offers with the potential investors.
Poleg tega se je Latvija zavezala, da […].
Hence, MLB seems to have exhausted all available opportunities in the market to sell those worst quality assets at a reasonable price, i.e. a price higher than their long-term economic value as estimated by an external reputable consultant.
Ob upoštevanju zgoraj navedenega se lahko sklene, da bo družba Hipo Fondi vsaj nekaj časa ostala le družba „poštni nabiralnik“ brez dejanskih poslov, ki bi jih upravljala.
As regards MLB's ancillary activities of a commercial nature, Latvia also provided sufficient information that they have already been or will be terminated in the near term.
Ker je družba „poštni nabiralnik“ zaključila dejavnosti, ki jih je v preteklosti izvajala družba Hipo Fondi kot odvisna družba banke, in ne bo takoj izvajala novih gospodarskih dejavnosti, se lahko sprejme sklep, da poslovanje med družbo Hipo Fondi kot podjetjem, ki je bilo del bančne skupine, in novim subjektom, tj. družbo Hipo Fondi, ki je v lasti novih lastnikov in izvaja nove gospodarske dejavnosti, če jih sploh izvaja, ni bilo neprekinjeno.
The shell company Hipo Fondi, which will remain after the sale of the assets it managed, will be sold in the coming months, the securities business will be terminated, and RIS, which is a pure holding company currently holding shares in Hipo Fondi and two companies in insolvency, will be liquidated.
Zato se za družbo „poštni nabiralnik“ Hipo Fondi ne more šteti, da ji koristi pomoč, ki je bila v preteklosti dodeljena banki.
It is planned that MLB's banking licence will be revoked by 31 December 2013.
Družba HipoNIA bo vsebovala sredstva nekdanjega komercialnega segmenta banke, ki se ukinja, in bo poslovala le nekaj časa.
As regards Hipolizings, it was sold as a legal entity by means of a share deal.
Vendar so v skladu z ustaljeno sodno prakso lahko ukrepi, katerih cilj je prenehanje komercialnih dejavnosti, vseeno pomoč [25].
Latvia submitted that Hipolizings did not directly benefit from any of the support granted to its parent company, MLB [24].
V zvezi s podjetji, ki so kupci svežnjev, Komisija na podlagi informacij, ki jih je predložila Latvija, ugotavlja, da je bil postopek prodaje izveden na odprt in nediskriminatoren način, pod tržnimi pogoji in s ciljem, da se zagotovi najvišja cena posameznih svežnjev.
As regards the potential asset relief measure described in recitals 165 to 170 of the opening decision, it is recalled that before the sale of Hipolizings the worst assets of MLB were internally transferred to HipoNIA.
V zvezi s prenosom družbe HipoNIA, ki naj bi bil nižji od tržne vrednosti, Komisija potrjuje predhodno ugotovitev iz sklepa o začetku postopka, da se njen kupec, tj. latvijska agencija za privatizacijo, ne more šteti za upravičenca do pomoči, saj ne izvaja gospodarskih dejavnosti in je zgolj latvijska državna agencija [26].
In the opening decision the Commission concluded that such an internal transfer of assets could only constitute an asset relief measure in favour of Hipolizings and Hipo Fondi, if and to the extent that they benefitted from such transfers.
Na podlagi navedenega Komisija meni, da pomoč ni bila dodeljena podjetjem, ki so kupci sredstev komercialnega segmenta in obveznosti banke.
Given Latvia's confirmation that no assets were transferred from Hipolizings to HipoNIA, it can be concluded that Hipolizings did not receive any asset relief directly benefitting its activities.
Ugotavlja, da po že zaključeni prodaji vseh svežnjev, ki so sestavljeni iz nekdanjih komercialnih dejavnosti banke, ukrepi pomoči koristijo le tistim komercialnim dejavnostim banke, ki so se nadalje izvajale po prodaji družb HipoNIA in Hipolizings.
However, as acknowledged by Latvia, it cannot be excluded that Hipolizings profited to a limited extent from the aid granted to MLB insofar as the existing contractual arrangements of Hipolizings did not have to be terminated unexpectedly, and it did not have to be sold by a distressed owner.
Ukrepi pomoči
Therefore, the Commission concludes that Hipolizings benefitted from the aid granted to MLB, albeit indirectly and hence to a very low degree.
Kot je navedeno v uvodni izjavi 73, je družbi Hipolizings koristila (čeprav le v omejenem obsegu) pomoč, dodeljena banki.
As regards Hipo Fondi, the Commission notes that when it was sold to its minority shareholder it was merely a shell company.
Kot je navedeno zgoraj, ji ni bilo treba nepričakovano prekiniti pogodbenih dogovorov in podjetja ni bilo treba prodati kot družbe, ki jo prodaja lastnik v težavah, kar bi lahko povzročilo nujno prodajo.
Latvia has confirmed that the remaining private portfolios and closed-end funds managed by Hipo Fondi have already been closed, are in the process of termination or will be wound up.
Omejena prednost ali dejstvo, da je ni mogoče količinsko opredeliti, ne spremeni ocene Komisije v zvezi s tem vprašanjem.
Furthermore, Latvia has committed that […].
Ker je družba Hipolizings dejavna v finančnem sektorju, bi kakršna koli prednost v obliki državnih sredstev, ki bi koristila njenim dejavnostim, lahko prizadela trgovino v Uniji in izkrivljala konkurenco.
In light of the foregoing, it can be concluded that Hipo Fondi will remain purely as a shell company with no actual business to manage at least for some time.
Zato je treba ukrepe, ki koristijo njenim dejavnostim, obravnavati, kot da lahko izkrivljajo konkurenco in prizadenejo trgovino med državami članicami.
Given that the shell company ends the activities formerly carried out by Hipo Fondi as MLB's subsidiary and does not undertake any new economic activities immediately, it can be concluded that there is no continuity between Hipo Fondi as an undertaking which was part of MLB group and the new entity, i.e. Hipo Fondi owned by new owner(s) and carrying out new economic activities, if any.
Prednost je bila dodeljena v obliki državnih sredstev in je selektivna, saj koristi le eni finančni skupini.
Therefore, the shell Hipo Fondi company cannot be considered as benefitting from the aid previously granted to MLB.
Ob upoštevanju zgoraj navedenega je Komisija sklenila, da posredna prednost, ki jo ukrepi pomoči, dodeljeni banki, dajejo družbi Hipolizings, pomeni državno pomoč v smislu člena 107(1) Pogodbe.
As regards HipoNIA, it will contain assets of the former commercial segment of MLB in run-down mode and will operate only for a limited time.
Za likvidnostni ukrep, dodeljen družbi HipoNIA, ki se ohrani v fazi prestrukturiranja, čeprav za višji znesek, je v sklepu o začetku postopka že bilo ugotovljeno, da gre za državno pomoč.
However, in line with the established case practice, measures aimed at winding down commercial activities may still constitute aid [25].
Komisija nima razloga, da bi spremenila svojo predhodno oceno, pri čemer upošteva večji znesek likvidnostne podpore.
As regards the undertakings which are buyers of the bundles, the Commission notes that, based on information submitted by Latvia, the sale process was carried out in an open and non-discriminatory manner, on market terms and with the aim to maximize the price for specific bundles.
Spremenjen znesek ukrepa ne vpliva na njegovo opredelitev kot pomoč.
As regards HipoNIA transfer at below market value, the Commission confirms the preliminary conclusion of the opening decision that its buyer, the LPA, cannot be considered as a beneficiary of the aid, since it does not carry out economic activities and is merely an agency of the Latvian State [26].
Zato je Komisija sprejela sklep, da je likvidnostna podpora družbi HipoNIA v višini 71 milijonov LVL državna pomoč.
On that basis, the Commission considers that no aid was granted to the undertakings which are buyers of MLB's commercial assets and liabilities.
Prednost, ki izhaja iz drugih ukrepov pomoči, ki so bili dodeljeni matični družbi družbe HipoNIA, tj. banki, ne koristi družbi HipoNIA.
In conclusion, after the sale of all the bundles consisting of the former commercial activities of MLB, which has been concluded by now, the aid measures only benefit those commercial activities of MLB continued after the sale by HipoNIA and Hipolizings.
Cilj vseh navedenih drugih ukrepov pomoči, dodeljenih banki, je bilo ohraniti dejavnosti banke dlje, kot bi bilo to mogoče v primeru takojšne plačilne nesposobnosti ali likvidacije, kar se je tudi uresničilo.
Aid measures
Zato se lahko posredna pomoč iz drugih ukrepov pomoči, dodeljenih komercialnemu segmentu banke, izključi v primeru družbe HipoNIA.
As stated in recital 73, Hipolizings has benefitted (albeit only to a limited extent) from the aid granted to MLB.
Združljivost pomoči z notranjim trgom
As mentioned above, its contractual arrangements did not have to be terminated unexpectedly and the company did not have to be sold by a distressed owner, which could have possibly led to a fire sale.
Ker je bilo v oddelku 5.1 ugotovljeno, da sta likvidnostni ukrep družbi HipoNIA in posredna prednost za družbo Hipolizings, ki je izhajala iz ukrepov pomoči, dodeljenih banki, državna pomoč v smislu člena 107(1) Pogodbe, bi bilo treba oceniti njuno združljivost z notranjim trgom.
The limited character of the advantage or the fact that it cannot be quantified does not alter the Commission's assessment in that respect.
Pravna podlaga za oceno združljivosti
Given that Hipolizings is active in the financial sector, any advantage from State resources benefitting its activities could affect intra-Union trade and distort competition.
V uvodnih izjavah 177 do 180 sklepa o začetku postopka je že bilo ugotovljeno, da se ukrepi pomoči, ki koristijo komercialnim dejavnostim banke, ocenijo v skladu s členom 107(3)(b) Pogodbe in zlasti sporočilom Komisije o prestrukturiranju.
Therefore, the measures benefitting its activities must be regarded as liable to distort competition and affect trade between Member States.
Združljivost ukrepa pomoči v skladu s sporočilom o prestrukturiranju
In the light of the foregoing, the Commission concludes that the indirect advantage conferred on Hipolizings from the aid measures granted to MLB constitutes State aid within the meaning of Article 107(1) of the Treaty.
V točki 17 sporočila o prestrukturiranju je potrjeno, da lahko prodaja (dela) finančne institucije tretji osebi prispeva k ponovni vzpostavitvi njenega dolgoročnega uspešnega poslovanja.
With regard to the liquidity measure granted to HipoNIA, which is maintained during the restructuring phase, albeit for a higher amount, it has already been established in the opening decision that the measure constitutes State aid.
Družba Hipolizings je bila prodana družbi Swedbank Lizings, ki je največja lizinška družba v Latviji (22-odstotni tržni delež).
The Commission has no reason to change its previous assessment in light of the increased amount of liquidity support.
Tesno je vključena v splošno bančniško poslovanje družbe Swedbank.
The changed amount of the measure does not affect its qualification as aid.
Dne 31. maja 2013 je bonitetna hiša Moody's zvišala bonitetno oceno družbe Swedbank na A1.
The Commission, therefore, concludes that the liquidity support of LVL 71 million to HipoNIA constitutes State aid.
Za poslovanje skupine je značilna ustrezna donosnost (s stopnjo donosnosti lastniškega kapitala v višini 16,9 % leta 2012 in 13,8 % v prvem četrtletju 2013 [27]) s količnikom navadnega lastniškega temeljnega kapitala, večjim od 15 %.
As regards other aid measures granted to HipoNIA's parent company, MLB, the advantage stemming from them does not benefit HipoNIA.
Dejavnosti družbe Hipoliznigs znašajo zelo majhen delež sredstev skupine Swedbank (približno 0,05 %).
All those other aid measures granted to MLB had the aim and the effect of sustaining the activities of MLB for a longer period of time than would have been possible in the event of immediate insolvency and liquidation.
Ob upoštevanju zgoraj navedenega je Komisija sklenila, da gospodarske dejavnosti banke, ki jih nadalje izvaja družba Hipolizings po prodaji družbi Swedbank Lizings in kot so vključene v skupino Swedbank, uspešno poslujejo.
When they were granted to MLB, HipoNIA was performing as the bad asset management company within the MLB group.
Prenehanje neprodanih komercialnih dejavnosti v skladu s predpisi
Given that HipoNIA's activities were limited to the liquidation of assets without delay without any advances granted to the clients, it was an integral part of the liquidation process.
Latvija je potrdila, da družba HipoNIA, ki je od banke pridobila portfelj posojil, ne zagotavlja dodatnega financiranja svojim strankam.
Therefore, the indirect aid from other aid measures granted to MLB's commercial segment can be excluded in the case of HipoNIA.
Poleg tega je predložila poročila o spremljanju prenehanja neprodanih komercialnih dejavnosti v skladu s predpisi in naknadnim vrednotenjem likvidacije.
Compatibility of the aid with the internal market
Komisija pozitivno obravnava prizadevanja Latvije in banke v zvezi s prodajo vseh komercialnih dejavnosti, ki jih je bilo mogoče prodati, razen če je bila prodaja gospodarsko manj ugodna kot njihovo postopno opuščanje glede na oceno uglednega zunanjega svetovalca.
As it was found in section 5.1 that the liquidity measure to HipoNIA and the indirect advantage conferred on Hipolizings from the aid measures granted to MLB constitute State aid within the meaning of Article 107(1) of the Treaty, their compatibility with the internal market should be assessed.
Ob upoštevanju zgoraj navedenega je Komisija sklenila, da so bili pomisleki iz sklepa o začetku postopka odpravljeni in da so zahteve iz sporočila o prestrukturiranju v zvezi s prenehanjem poslovanja v skladu s predpisi izpolnjene v tej zadevi.
Legal basis for the assessment of compatibility
Pomoč, omejena na najmanjši možni znesek/lastni prispevek
It has already been established in recitals 177 to 180 of the opening decision that the aid measures benefiting the commercial activities of MLB are to be assessed under Article 107(3)(b) of the Treaty and in particular Commission's Restructuring Communication.
Že v sklepu o začetku postopka je bilo ugotovljeno, da osnovni scenarij iz prodajne strategije zagotavlja omejitev potrebne pomoči za postopno opuščanje komercialnih dejavnosti banke na najmanjši možni znesek [28].
Compatibility of the aid measure under the Restructuring Communication
Dejansko izvajanje navedenega načrta ne spremeni te ocene.
Restoration of long-term viability of economic activities of MLB continued by Hipolizings after its sale
Poleg tega je bilo v sklepu o začetku postopka ugotovljeno, da se komercialne dejavnosti banke s prodajo prenehajo izvajati, s čimer se zagotovi, da banka v čim večji meri prispeva k prestrukturiranju z lastnimi sredstvi [29].
Point 17 of the Restructuring Communication confirms that a sale of (part of) the financial institution to a third party can help to restore its long-term viability.
Preprečevanje neupravičenega izkrivljanja konkurence
Hipolizings has been sold to Swedbank Lizings, which is the largest leasing company in Latvia (22 % market share).
Kot je že bilo določeno v sklepu o začetku postopka, pravočasna ločena odsvojitev odvisnih družb banke in razdelitev banke v več svežnjev pred njihovo prodajo zmanjšujeta neupravičeno izkrivljanje konkurence, ki je posledica pomoči.
It is closely integrated with general banking operations of Swedbank.
Zato se štejeta za pozitivna ukrepa [30].
As of 31 May 2013, Swedbank has its rating upgraded by Moody's to A1.
Ker se je prodaja zaključila, so bili odpravljeni pomisleki iz sklepa o začetku postopka v zvezi s hitrostjo prodaje.
The group's operations have a track record of adequate profitability (with return on equity ratio of 16,9 % at YE2012 and of 13,8 % at 1Q2013 [27]) with a core Tier 1 capital ratio exceeding 15 %.
Ker je Latvija potrdila, da se za obstoječa posojila družbe HipoNIA ne bodo dodelila predplačila, so bili ublaženi pomisleki iz sklepa o začetku postopka v zvezi s to zadevo.
Hipolizings' activities make up a very small share of the assets of the Swedbank group (ca.
V zvezi z družbo Hipolizings je Komisija v sklepu o začetku postopka predhodno ugotovila, da so bili ukrepi za omejevanje izkrivljanja konkurence, ki je posledica dodeljenih ukrepov, ustrezni.
0,05 %).
Ker je Latvija potrdila, da družba Hipolizings ni koristila nobene neposredne pomoči, se lahko navedene predhodne ugotovitve Komisije zdaj potrdijo.
In light of the foregoing, the Commission concludes that the economic activities of MLB continued by Hipolizings after its sale to Swedbank Lizings, as integrated into the Swedbank group, are viable.
Poleg tega družba Hipolizings […].
Orderly wind-down of unsold commercial activities
Ob upoštevanju omejene prisotnosti družbe Hipolizings na trgu (5-odstotni tržni delež) in omejene pomoči, ki ji je bila dodeljena in je le posredna, so ukrepi za omejevanje izkrivljanja konkurence, ki jih večinoma sestavlja pravočasna prodaja s strani banke, ustrezni.
Latvia confirmed that HipoNIA, which has acquired loan portfolios from MLB, does not provide additional financing to any of its clients.
Sklepne ugotovitve o združljivosti