natgillin/translations-raw huggingface dataset:
Lastly, point 12 of the 2004 Guidelines provides that: ‘a newly created firm is not eligible for rescue or restructuring aid … This is the case, for instance, where a new firm emerges from the liquidation of a previous firm or merely takes over such firm's assets.’
Nazadnje, obrestni meri za obroka A in B posojila iz sklada FDES sta bili določeni na podlagi obrestnih mer za obroka A in B posojil, ki sta ju dodelili banki Société Générale in Natixis.
With regard to Groupe Brandt, a company created on 15 January 2014, the Commission had doubts about the classification as a new company of a company that had bought a relatively large part of the assets of a firm in difficulty to carry on apparently the same activity.
Ta zasebna vlagatelja jasno pomenita referenčno točko za obroka A in B posojil iz sklada FDES.
Compliance with the ‘one time, last time’ principle
Obroka A in B posojila iz sklada FDES sta bila dodeljena hkrati z obrokoma posojil navedenih bank in pod primerljivimi pogoji: pogoji za dodelitev obrokov A in B posojila iz sklada FDES so torej nesporno v skladu s tržnimi pogoji [16].
The Commission also had doubts about compliance with the ‘one time, last time’ principle set out in section 3.3 of the 2004 Guidelines.
Francija v zvezi z obrokom C posojila iz sklada FDES priznava, da ta obrok ni bil dodeljen pod enakimi pogoji kot posojili bank.
FagorBrandt had already benefited from restructuring aid in 2008 [12].
Kljub temu tudi za ta obrok posojili bank kažeta na obrestno mero na trgu, ne da bi se bilo treba spuščati v podrobnosti izračuna, ki ga je Komisija opisala v točkah (49) in (50) sklepa o začetku postopka.
Therefore, the firm cannot, a priori, benefit from new rescue or restructuring aid before 2018.
Poleg tega za obrok C posojila iz sklada FDES veljajo enaka poroštva kot za obroka A in B (posojila iz sklada FDES in posojil bank), vendar so izključno drugovrstna, kar zadostuje za zavarovanje navedenega obroka C. Da bi se izravnala podrejenost obroka C glede na obroka A in B v smislu poroštev, je treba navesti, da za obrok C velja precej višja obrestna mera kot za obroka A in B, in sicer pribitek [0–5] % (v primerjavi z [0–5] % oziroma [0–5] % za obroka A in B).
The Commission pointed out that, in any event, the change in the ownership of the beneficiary company, following the granting of aid, did not call into question this rule, since it seemed to be the continuation of the same firm.
Poleg tega za obrok C veljata tudi bolj zgoščen načrt vračil in krajše obdobje vračila kot za preostale obroke.
Economic continuity
Nazadnje, prvi rok zapadlosti obroka C ima prednost pred obrokoma A in B posojila iz sklada FDES in posojila zasebnih bank v primeru prostovoljnega ali obveznega predčasnega vračila, torej je obrok C nadrejen obrokoma A in B.
Lastly, the Commission pointed out that, according to the settled case-law of the Court of Justice of the European Union, the obligation imposed by a Commission decision on a Member State to abolish aid regarded as being incompatible with the internal market has as its purpose to re-establish the previously existing situation.
Skratka, Francija meni, da za posojilo iz sklada FDES v višini 47,5 milijona EUR, ki ga je odobrila Francija, vključno z njegovim obrokom C, veljajo popolnoma zadostna poroštva, obrestna mera pa je v skladu z načelom preudarnega zasebnega posojilodajalca v tržnem gospodarstvu.
This objective is attained once the recipient has repaid the aid, thus forfeiting the advantage which it had enjoyed over its competitors in the market [13].
Francija meni, da so se napačno razlagale njene navedbe v zvezi z odpisom davčnih in socialnih obveznosti, ki so družbi FagorBrandt nastale v obdobju opazovanja po začetku postopka prisilne poravnave.
A number of indicators of economic continuity between FagorBrandt and Groupe Brandt seemed to be present [15]: in particular, the takeover of almost all the tangible and intangible assets of a number of companies belonging to the Fagor group in France, the retention of more than two thirds of the staff, the pursuit of the same production activity with the same brands and the same economic logic of the operation.
Člen L. 622-17 trgovinskega zakonika namreč določa, da se zadevne terjatve v primeru neplačila ob zapadlosti prednostno poplačajo pred vsemi drugimi terjatvami.
Furthermore, the Commission had concerns about the fact that this aid, and the aid granted directly to Groupe Brandt by way of the EUR 47,5 million loan, could have given an advantage to Cevital and Exagon, which took over the above-mentioned assets of FagorBrandt through the medium of the subsidiary Groupe Brandt.
Uporabe člena L. 622-17 trgovinskega zakonika, ki je po navedbah Francije običajna v okviru večine postopkov prisilne poravnave in neločljivo povezana z omogočanjem nadaljnjega poslovanja podjetja, ni mogoče razlagati kot odpis terjatev.
RESPONSE BY FRANCE TO THE OPENING DECISION
Družba je med obdobjem opazovanja še naprej plačevala prispevke za socialno varnost in davke, vendar del teh davščin ob likvidaciji ni bil izterljiv in se je prenesel med obveznosti v obdobju opazovanja družbe.
Contrary to the argument put forward by the Commission in the opening decision, France considers that the collateral for tranche B of the loan is not lower than the collateral for tranche A, and that it is at least as strong as the latter.
Glede na informacije, pridobljene od likvidacijskega upravitelja, bi moralo biti mogoče preostale davščine plačati z likvidacijo družbe FagorBrandt.
a charge on the stock of spare parts (gross value EUR [10-20] million) without dispossession, and
Nastanek teh davčnih in socialnih obveznosti je torej nekaj najbolj običajnega v okviru postopka prisilne poravnave, kot je praksa v državah članicah.
Tranche B had the following collateral:
Francija ni predložila ocene združljivosti niti v odgovoru na sklep o začetku postopka niti v nadaljevanju postopka.
a promise of repayment, for the amount of the tranche, of the proceeds of sale of immovable property in Lyon that was the subject of an undertaking to sell for EUR [10-20] million, or, alternatively, a promise of a first-rank mortgage on that immovable asset,
PRIPOMBE ZAINTERESIRANIH TRETJIH STRANI IN FRANCIJE
Therefore, in addition to (b) and (c), which were identical to the collateral provided for tranche A and for the Thémis loan, tranche B had a second-rank pledge on the proceeds of sale of immovable property in Lyon that was the subject of an undertaking to sell for EUR [10-20] million.
Pripombe zainteresirane tretje strani
The market value of this property had also been estimated on 31 December 2012 at EUR [15-25] million vacant and EUR [15-25] million occupied.
Komisija je prejela pripombe samo ene zainteresirane tretje strani, ki jih je predložila 19. januarja 2015 in je želela ostati anonimna.
This information shows that the value of the property concerned by the undertaking to sell, i.e. EUR [10-20] million, did indeed constitute a minimum value.
Zainteresirana tretja stran uvodoma meni, da zadevni ukrep pomoči ni združljiv s členom 107 PDEU in smernicami iz leta 2004.
Although the pledge for tranche B of EUR 5 million of the FDES loan was second rank, it was more than enough to guarantee that tranche, having regard to the fact that the first-rank creditor had the collateral only up to an amount of EUR 5 million.
Po njenem mnenju namreč že več kot deset let vse kaže, da se upravičenec, družba FagorBrandt, ne bi mogel obdržati na trgu brez niza državnih pomoči, ki niso združljive z notranjim trgom, med drugim sodne odločbe gospodarskega sodišča v Nanterru, ki je privedla do odpisa obveznosti in na podlagi katere sta družbi Elco Holding Limited in Fagor Electrodomésticos leta 2002 pridobili sredstva družbe FagorBrandt po ceni, ki je bila nižja od tržne, pomoči za prestrukturiranje, dodeljene italijanski hčerinski družbi, in pomoči za prestrukturiranje, dodeljene leta 2008, v višini 31 milijonov EUR.
Therefore, although part of the collateral provided for tranche B was different from that provided for tranche A, it was none the less reinforced by the existence of a pledge on an asset with a value well above that of the amount of the loan.
Zainteresirana tretja stran meni, da se je podjetje znašlo v finančnih težavah, ker v nasprotju s svojimi konkurenti ni bilo sposobno sprejeti zavezujočih ukrepov prestrukturiranja.
Furthermore, France stresses that the loan had been fully repaid in April 2014.
Zainteresirana tretja stran najprej pojasnjuje, da po njenem mnenju odpis davčnih obveznosti in neplačanih prispevkov za socialno varnost nedvomno pomeni državno pomoč, ki je bila dodeljena iz državnih sredstev ter vpliva na konkurenco na trgu in trgovino med državami članicami.
Collateral.
Prav tako po njenem mnenju ni dvoma, da posojili iz sklada FDES pomenita državna sredstva, selektivno dodeljena določenemu podjetju.
France describes in more detail the list of collateral that it had presented in its letter of 10 July 2014 as totalling EUR 150 million.
Zainteresirana tretja stran nato razloži svojo trditev, da je bila s posojiloma iz sklada FDES dodeljena gospodarsko prednost.
France therefore provides additional information and expert reports in support of this amount.
Poleg tega so bila poroštva za obrok B navedenega posojila manjša od poroštev za posojilo, ki ga je dodelil zasebni vlagatelj.
Interest rate.
Posojilo bi torej moralo biti odobreno po višji obrestni meri.
France considers that the Commission's calculation is mistaken, as are its conclusions drawn therefrom.
Nazadnje, enomesečni rok je bil dodeljen brez pogojev za vračilo obroka B posojila.
First, the Commission takes as its starting point the fact that Electrom, which is now called Groupe Brandt, had a CCC rating.
V zvezi s posojilom v višini 47,5 milijona EUR zainteresirana tretja stran izraža pomisleke glede možnosti, da bi zasebni vlagatelj dodelil posojilo podjetju z bonitetno oceno CCC v tem znesku in v takih okoliščinah.
France considers that such a rating is not justified.
Nazadnje, zainteresirana tretja stran se strinja s pripombami Komisije, da ukrepi pomoči vplivajo na konkurenco na trgu in trgovino med državami članicami.
The Cevital group, which includes Groupe Brandt, had a particularly healthy financial situation, as shown by the consolidated accounts for 2013, which were audited by KPMG.
Podjetje bi namreč moralo biti likvidirano, če datum vračila obroka B posojila v višini 10 milijonov EUR iz sklada FDES ne bi bil prestavljen, tako da vpliv na konkurenčno strukturo trga ni zanemarljiv.
France therefore takes the view that this very robust data would enable the Cevital group to obtain a very favourable rating of at least A, or even AA, had it instructed a ratings agency to that effect.
Ta ugotovitev ima še toliko večjo težo, če se upoštevata velikost in pomembnost upravičenca na francoskem trgu gospodinjskih aparatov.
In any event, France believes that the 2008 Communication demonstrates unequivocally that the rate chosen for the EUR 47,5 million loan corresponds to a category of firm with a financial situation between weak (B) and satisfactory (BB).
Zainteresirana tretja stran poudarja, da je bila upravičenemu podjetju oktobra 2008 že dodeljena pomoč za prestrukturiranje v višini 31 milijonov EUR (ki jo je Komisija odobrila 25. julija 2012 [17]), tako da načelo enkratnosti pomoči iz smernic iz leta 2004 ni upoštevano.
There is no question that the financial situation of the Cevital group is not at all comparable to that of a firm rated CCC.
Ker ta trditev drži samo v primeru gospodarske kontinuitete med družbama FagorBrandt in Groupe Brandt, zainteresirana tretja stran navaja več poudarkov: novi lastnik je pridobil skoraj vsa opredmetena in neopredmetena sredstva podjetij, ki so del družbe FagorBrandt v Franciji, družba Groupe Brandt zdaj zaposluje več kot dve tretjini zaposlenih nekdanje strukture, nadaljuje isto gospodarsko dejavnost in podobno proizvodnjo, poleg tega je višje vodstvo v veliki večini ostalo na svojih položajih.
Second, France points out that private lenders also took part in the financing of Groupe Brandt.
Zainteresirana tretja stran navaja, da tudi če gospodarska kontinuiteta med subjektoma ne bi bila priznana, bi bilo z dvema od treh ukrepov, ki pomenijo državno pomoč, še vedno kršeno načelo enkratnosti pomoči.
These private lenders, Société Générale and Natixis, agreed to lend to Groupe Brandt with margins of [0-5] % and [0-5] %.
Tudi če bi se družba Groupe Brandt štela za novo ustanovljeno podjetje, bi bili ukrepi državne pomoči prav tako popolnoma nezdružljivi s smernicami iz leta 2004.
This is enough to demonstrate as such that the calculation of the ‘market’ interest rate as presented in the opening decision (between 7,03 % in recital 49 and 17,77 % in recital 50) is mistaken.
Smernice iz leta 2004 določajo, da se pomoč za prestrukturiranje ne sme uporabiti za umetno ohranjanje podjetja pri življenju.
Lastly, the interest rates on tranches A and B of the FDES loan were set with reference to the interest rates on tranches A and B of the bank loans granted by Société Générale and Natixis.
To je mogoče zlasti v sektorju, za katerega je značilna velika strukturna presežna zmogljivost in v katerem se lahko upravičenec obdrži samo zaradi niza državnih pomoči.
These two private investors clearly form the point of reference for tranches A and B of the FDES loans.
Zainteresirana tretja stran ugotavlja, da se je družba FagorBrandt v letu 2012 srečevala z nezadostno stopnjo izkoriščenosti (57 %) v primerjavi s preostalim trgom (82 %).
Tranches A and B of the FDES loan were granted at the same time as the tranches of the loans from these banks and on comparable terms: the terms on which tranches A and B of the FDES loan were granted are therefore undoubtedly in line with market conditions [16].
V tem okviru se ponovna vzpostavitev sposobnosti preživetja upravičenega podjetja zdi zelo negotova, ker je po eni strani trg izredno konkurenčen in ker po drugi strani skupina Cevital nima nobenih izkušenj s tem sektorjem v Evropi.
France recognises that tranche C of the FDES loan was not granted on the same terms as the bank loans.
Pomanjkanje izkušenj te skupine na področju raziskav in razvoja kaže na njene težave pri ustvarjanju dejanskih sinergij.
None the less, for this tranche too, the bank loans provide an indication of the market rate without the need to go into the detail of the calculation presented by the Commission in recitals 49 and 50 of the opening decision.
Zainteresirana tretja stran je presenečena, da Francija ni predložila načrta prestrukturiranja skupaj z natančno določenim časovnim okvirom, čeprav smernice iz leta 2004 določajo, da je treba načrt prestrukturiranja sprejeti v razumnem času.
Moreover, tranche C of the FDES loan has the same collateral as tranches A and B (of the FDES loan and the bank loans), but it is second rank, which is enough to guarantee tranche C. To compensate for the junior nature of the collateral for tranche C in relation to tranches A and B, it should be noted that tranche C has a significantly higher interest rate than tranches A and B, i.e. a margin of [0-5] % (against [0-5] % and [0-5] % for tranches A and B respectively).
Nazadnje, zainteresirana tretja stran poudarja izkrivljajoč učinek na konkurenco, ki ga bodo zadevni ukrepi zanesljivo imeli.
Furthermore, tranche C also has a tighter repayment schedule and a shorter repayment period than the other tranches.
Zainteresirana tretja stran se je tako lotila dragega programa prestrukturiranja, ki ga je financirala sama.
Lastly, the first due date for tranche C takes precedence over tranches A and B of the FDES loan and of the loan from the private banks in the event of voluntary or mandatory early repayment, which constitutes an element of seniority of tranche C in relation to tranches A and B.
Njen trud bi bil še bolj poplačan, če upravičeno podjetje zaradi javne pomoči ne bi zavzemalo velikega dela trga.
In conclusion, France considers that the FDES loan of EUR 47,5 million granted by it, including tranche C thereof, has more than enough collateral and an interest rate in line with the principle of the prudent private creditor in a market economy.
Večji obseg prodaje bi zainteresirani tretji strani torej omogočil, da bi povečala svojo stopnjo izkoriščenosti in znižala svoje stroške na enoto v korist potrošnikom.
France takes the view that the information it provided on the social security and tax debts incurred by FagorBrandt during the observation period that followed the opening of the court-supervised administration procedure has been misinterpreted.
Posledično se zdi neobstoj izravnalnih ukrepov neupravičen.
France explains that, as is always the case for companies in court-supervised administration, FagorBrandt, with the assistance of the official receiver, continued its activity, which implies that all or some of the employees continue to work (and that social security contributions are due) and that this activity is likely to generate tax obligations.
Pripombe Francije
In this case they are social security contributions and tax debts (in particular vocational training, apprenticeship tax, tax on office premises) included in the company's liabilities.
Ozadje
Such claims enjoy the privilege laid down in Article L. 622-17 of the Commercial Code and will therefore be paid before all the other claims, whether or not these are secured by privileges or collateral, except for those claims secured by the privilege provided for in Articles L. 3253-2, L. 3253-4 and L. 7313-8 of the Labour Code, legal fees arising in a proper manner after the issue of the commencement order for the needs of the proceedings and those claims secured by the privilege created by Article L. 611-11 of the Commercial Code.
Prvič, Francija zanika obstoj pomoči v obliki odpisa obveznosti ali dovoljenja gospodarskega sodišča v Nanterru za pridobitev sredstev po ceni, ki je nižja od tržne.
Article L. 622-17 of the Commercial Code provides that, if the claims are not paid on their due date, they will be paid as a priority before all other claims.
V zvezi s tem opozarja, da ta trditev zainteresirane tretje strani ni podprta z dejstvi in da odločitev, ki jo je sprejelo gospodarsko sodišče v Nanterru, ne vključuje prenosa državnih sredstev.
The application of Article L. 622-17 of the Commercial Code, which, according to France, is current in the case of most court-supervised administration procedures and is intrinsically linked to making it easier for the undertaking to continue its activity, cannot be interpreted as a write-off of claims.
V zvezi s pomočjo, ki jo je prejela družba Brandt Italia, Francija poudarja, da je Komisija družbi FagorBrandt naložila izravnalne ukrepe, da bi potrdila združljivost te pomoči z notranjim trgom [18].
During the observation period, the company continued to pay its social security contributions and taxes but part of those charges was not due on liquidation and was entered in the books as a liability of the company during the observation period.
Enako velja za pomoč za prestrukturiranje, ki jo je prejela družba FagorBrandt in ki jo je Komisija odobrila pod pogojem, da se sprejmejo izravnalni ukrepi [18] Prav tam.
According to information obtained from the receiver, it should be possible to pay the outstanding taxes on the liquidation of FagorBrandt.
Tretja stran tako poskuša prikazati, da je obravnavani ukrep spadal neposredno v okvir predhodne javne podpore, a se v resnici sklicuje na ukrepe, ki ne pomenijo državne pomoči oziroma se zanje šteje, da zaradi izravnalnih ukrepov nimajo učinka na notranji trg.
Therefore, the social security and tax debts were incurred in the usual way under court-supervised administration proceedings, as is the case in the Member States.
Francija meni, da je verodostojnost tega poslovnega načrta prepričala skupino zasebnih vlagateljev, med katerimi sta banki Natixis in Société Générale, da so financirali te projekte.
France did not provide any compatibility assessment in its response to the opening decision or during the rest of the procedure.
Francija dodaja, da […] pomeni trajno rešitev za sedanjo nizko stopnjo izkoriščenosti, na katero se sklicuje tretja oseba.
COMMENTS FROM INTERESTED PARTIES AND OBSERVATIONS BY FRANCE
Francija pojasnjuje, da je skupina Cevital v svoji industrijski dejavnosti že imela segment električnih gospodinjskih aparatov: leta 2013 je v Alžiriji začela gradnjo industrijskega obrata za proizvodnjo električnih gospodinjskih aparatov.
Comments from interested parties
Skupina Cevital se tako ni ukvarjala samo z dejavnostmi sestavljanja, kot trdi zainteresirana tretja stran.
The Commission received comments from a single interested party, which submitted them on 19 January 2015 and wished to remain anonymous.
Skupina ima poleg tega veliko pogajalsko moč za nakup surovin.
By way of introduction, the interested party takes the view that the aid measure in question is incompatible with Article 107 TFEU and the 2004 Guidelines.
Po navedbah Francije se dejavnost skupine Cevital in prevzemanje zelo znanih znamk pomembno dopolnjujeta.
According to the interested party, everything seems to indicate that, for more than 10 years, the recipient FagorBrandt had not been able to stay in the market without a succession of State aid measures that were incompatible with the internal market, in particular since a judgment of Nanterre Commercial Court resulted in a debt reduction and an acquisition of FagorBrandt's assets by Elco Holding Limited and Fagor Electrodomésticos at a price below the market price in 2002, restructuring aid granted to an Italian subsidiary, and restructuring aid of EUR 31 million granted in 2008.
Opredelitev ukrepov
It seems to the interested party that the recipient's financial difficulties are the result of an inability to adopt binding restructuring measures, unlike its competitors.
Francija opozarja, da so davčne in socialne obveznosti, nastale v okviru postopka prisilne poravnave, rezultat mehanizma, ki je v tovrstnih postopkih običajen.
The interested party points out, first, that there is no doubt in its view that the cancellation of the tax and social security debts constitutes State aid granted through State resources that affects competition on the market and trade between Member States.
Sicer pa Francija zanika obstoj porazdelitve davčnih in socialnih obveznosti v korist družbe Groupe Brandt.
Nor, according to the interested party, is there any doubt that the two FDES loans are a State resource allocated selectively to a certain undertaking.
V zvezi s posojilom iz sklada FDES v višini 10 milijonov EUR Francija znova navaja, da je bilo dodeljeno hkrati s posojilom, ki ga je dodelila banka Thémis, in da se je zgledovala po pogojih, ki jih je postavila ta banka.
The interested party then sets out its argument on the economic advantage conferred by the two FDES loans.
Obrok A posojila iz sklada FDES je bil dodeljen pod enakimi pogoji kot zasebno posojilo v smislu določitve cene, odplačevanja in poroštev.
Moreover, the collateral for tranche B of the same loan was lower than that for a loan granted by a private investor.
V zvezi s posojilom v višini 47,5 milijona EUR Francija meni, da ta znesek ni previsok, saj je finančni položaj skupine Cevital trden (bližje bonitetni oceni AA kot CCC, ki jo navaja tretja stran).
The loan should therefore have been granted at a higher interest rate.
Francija poudarja, da je treba to posojilo obravnavati glede na vse zneske, ki so jih navedli zasebni vlagatelji, med njimi banki Société Générale in Natixis.
Lastly, the repayment of tranche B of the loan was deferred by one month without conditions.
Znova potrjuje verodostojnost in pomembnost odobrenih poroštev.
With regard to the EUR 47,5 million loan, the interested party expressed its reservations about the advisability for a private investor to grant a loan to a company with a CCC rating for that amount and under those circumstances.
Nazadnje, Francija opozarja, da ni treba navesti primera ponudbe finančne institucije, ker sta zasebna vlagatelja v obravnavanem primeru učinkovito zagotovila finančna sredstva.
Lastly, the interested party agreed with the Commission's observations that the aid measures affect competition in the market and trade between Member States.
OCENA UKREPOV POMOČI