natgillin/translations-raw huggingface dataset:
However, in the meantime, BDZ Holding's subsidiaries only operate on a geographic area which is entirely eligible for regional aid pursuant to Article 107(3)(a) of the Treaty.
Poleg tega Komisija ugotavlja, da novi udeleženci na trgu niso odvrnjeni od vstopa na bolgarski trg prevoznih storitev.
Sizeable tariff increases in such geographic areas may have stronger negative social effects than in wealthier areas of the Union.
Kot je opisano v uvodnih izjavah 15 in 42, je trenutno poleg družbe BDZ Cargo na bolgarskem trgu železniškega prometa dejavnih osem prevoznikov tovora.
Accordingly, hypothetical tariff increases aimed at boosting BDZ Holding's revenues and alleviating its debt to the extent needed, if at all legally possible as concerns passenger services subject to PSO and commercially sustainable in a competitive environment as concerns freight services, could have disproportionate social impacts on Bulgarian rail passengers or companies using BDZ's cargo services.
Ni dokazov, da se bo ta konkurenčni položaj spremenil zaradi ukrepa plačila dolga.
Consequently, no other credible hypothetical policy measure than the planned debt cancellation would allow the company to continue its operation.
Glede na zgoraj navedeno Komisija sklepa, da državna pomoč v obliki plačila dolga (ukrep 2) v višini 223,45 milijona BGN (114,25 milijona EUR), ki jo namerava izvesti Bolgarija, izpolnjuje pogoje za združljivost z notranjim trgom iz poglavja IV smernic za železniški promet.
It follows that the measure at stake is necessary to remedy BDZ Holdings' indebtedness, insofar as the likely development of competition on the market would not allow BDZ Holding and its subsidiaries to rectify their financial situation within a foreseeable future.
Ker Bolgarija ni pojasnila izvora in razvoja neporavnanih obveznosti družbe BDZ Holding do NŽID pred sklepom o začetku postopka, se je štelo, da neizterjava teh zapadlih obveznosti morda vključuje državno pomoč v skladu s členom 107(1) Pogodbe
The aid must not go beyond what is necessary for the purpose
Glede na podatke, ki jih je posredovala Bolgarija (glej oddelek 4.3), je del neporavnanih obveznosti družbe BDZ Holding do NŽID predstavljal obveznosti, ki so družbi nastale pred pristopom Bolgarije k Uniji.
The Commission notes that in view of the financial situation of BDZ Holding, the amount of the debt cancellation is the minimum necessary to ensure the survival of the company and is a pre-condition for its financial sustainability.
Del tega dolga iz predpristopnega obdobja (do 26,3 milijona BGN) je bil naknadno refinanciran s prihodki iz izdaje obveznic z dne 19. novembra 2007 in je še vedno neporavnan ter zato predmet ocene v skladu z „Ukrepom 2: Plačilo dolgov, nastalih pred letom 2007“ iz oddelka 6.1.
The amount is essentially needed for the outstanding payments towards the creditors — international financial institutions and NRIC.
Z drugimi besedami, NŽID je bila poplačana.
BDZ Holding and its subsidiaries have still outstanding liabilities incurred before 1 January 2007 which, if not paid, would put the beneficiary at risk of liquidation.
Poleg tega je Bolgarija z namenom, da pojasni položaj v zvezi s preostalimi neporavnanimi obveznostmi, posredovala nadaljnje podatke o ureditvi izterjave in ukrepih, ki jih je sprejela NŽID (glej oddelek 4.3).
The financial indicators show that the payments cannot be made from own resources at present and it would be unrealistic to expect that the company could increase significantly its tariffs or prices to generate increased revenues in the short term.
Po navedbah Bolgarije je NŽID sprejela vse potrebne ukrepe za izterjavo zapadlih obveznosti od družbe BDZ Holding in njenih odvisnih družb za čim večje poplačilo dolgov, vendar brez sprožitve sodnih postopkov.
Furthermore, the Commission notes that during the period since accession, BDZ Holding has repaid BGN 166 million of liabilities incurred before 1 January 2007 from its own resources stemming mainly from sales of assets.
Da se preveri, ali je NŽID neupravičeno dajala prednost družbi BDZ Holding v zvezi z zamudo in načini plačila zapadlih obveznosti, mora Komisija oceniti, ali bi lahko imela korist od takih načinov v skladu z običajnimi tržnimi pogoji [33].
As those amounts were potentially eligible for cancellation, it is reasonable to consider that BDZ Holding could have used those resources for the development and the modernisation of the rolling stock and the services provided.
V ta namen mora Komisija oceniti, ali bi hipotetični upnik v tržnem gospodarstvu, ki je v podobnem položaju kot NŽID in poskuša doseči kar največje plačilo dolgov, sprejel zamudo in začel ponovna pogajanja o plačilu zapadlih obveznosti pod podobnimi pogoji [34].
The company was lagging behind the development of the railway sector as regards technical characteristics and information systems.
Z drugimi besedami, Komisija mora presoditi, ali je NŽID ravnala z enako dolžno skrbnostjo kot upnik v tržnem gospodarstvu, preden je izbrala med posamezno in sporazumno uveljavitvijo svojih terjatev ali sprožitvijo skupnega postopka izterjave, ki bi sčasoma privedel do stečaja družbe BDZ Holding in njenih odvisnih družb.
Therefore, insofar as BDZ Holding has also relied on its own resources to repay part of the pre-accession debt, the debt cancellation cannot be considered as going beyond what is necessary even if it frees it from repayment obligations and allows financial room to invest in future modernisations or repair activities.
Komisija ugotavlja, da bi za določitev najbolj ugodne alternativne možnosti skrben upnik v tržnem gospodarstvu ocenil prednosti in slabosti vsake od alternativnih možnosti, upoštevajoč med drugim izterljive zneske, predhodno gospodarsko izpostavljenost, trajanje postopka izterjave in stroške [35].
In view of these considerations, the Commission finds that the implementation of the debt cancellation cannot be considered to place BDZ Holding in a situation more favourable than that of an average well-managed undertaking with the same activity profile.
Komisija najprej ugotavlja, da so dolgovi do NŽID nastali v okviru rednega in dolgoročnega poslovnega razmerja med (državnimi) podjetji: družba BDZ Holding in njeni odvisni družbi so bile ključne stranke NŽID in so ustvarile več kot 70 % njenih prihodkov iz poslovanja.
The cancellation of its debts must not give an undertaking a competitive advantage such that it prevents the development of effective competition on the market, for example by deterring outside undertakings or new players from entering certain national or regional markets.
Izvor dolga NŽID do družbe BDZ Holding v višini 46,5 milijona BGN, ki je nastal med letoma 2008 in 2011 za različne storitve, zagotovljene NŽID (preglednica 3), je dodaten dokaz, da je med družbama NŽID in BDZ Holding prisotna stalna interakcija in medsebojna odvisnost.
The proposed debt cancellation will only allow BDZ Holding to normalise financing of the company's operating activities and will not allow BDZ Holding or of its subsidiaries to expand or enter new markets.
Če bi družba BDZ Holding in njeni odvisni družbi izstopile s trga zaradi skupnih postopkov v primeru insolventnosti, bi to imelo resen takojšen negativen vpliv na finančni položaj NŽID.
In that sense, the aid will not prevent the development of effective competition on the market.
Stečaj družbe BDZ Holding bi povzročil manjši dobiček NŽID in zmanjšal njeno zmožnost vzdrževanja nacionalnega železniškega omrežja, to pa bi povzročilo tveganje za nadaljnje zmanjšanje komercialnih prihodkov od drugih strank poleg odvisnih družb BDZ Holding.
It will not affect the competitors' market position and they will be able to continue competing with BDZ Holding under the same conditions.
Iz tega sledi, da bi upnik v tržnem gospodarstvu, ki je kot NŽID v podobnem poslovnem odnosu s svojim(i) dolžnikom(-i), kot je BDZ Holding, z določeno mero previdnosti pristopil k vsakemu hipotetičnemu izvršilnemu ukrepu, zaradi katerega bi njegova glavna stranka izginila s trga, nasprotno kot upnik z enkratno terjatvijo, ki ni poslovno in finančno odvisen od tega, ali bo njegov dolžnik ostal dejaven na trgu po izterjavi terjatev.
The Commission also considers that the cancellation of debts will not unduly distort competition and trade between Member States, because it will only allow BDZ Holding to stabilise its financial situation, which was hindered by liabilities incurred prior to liberalisation of the market.
Drugič, terjatev NŽID do družbe BDZ Holding in njenih odvisnih družb ne bi bilo mogoče izterjati kot prednostnih terjatev v hipotetičnih skupnih postopkih v primeru insolventnosti, v katerih ne bi bilo mogoče uveljavljati posebne prednosti NŽID pri povračilu pred drugimi upniki (glej uvodno izjavo 49).
Furthermore, the Commission finds that the new market players are not deterred from entering the Bulgarian transport market.
Poleg tega je bil dolg, ki je v sklepu o začetku postopka opredeljen kot dolg do NŽID (45 milijonov BGN), manjši od dolga do drugih upnikov (glej preglednico 1).
As described in recitals 15 and 42, in addition to BDZ Cargo, eight cargo operators are currently active on the Bulgarian rail transport market.
Še več, knjigovodsko vrednost sredstev družbe BDZ Holding bi bilo treba v prisilni prodaji v skupnih postopkih v primeru insolventnosti zmanjšati za odbitek zaradi nelikvidnosti.
There is no evidence that the debt cancellation measure will modify this competitive situation.
Glede na vrsto sredstev lahko odbitek zaradi nelikvidnosti znaša do 75 % vrednosti sredstev.
In view of the foregoing, the Commission concludes that the State aid in the form of debt cancellation (Measure 2) amounting to BGN 223,45 million (EUR 114,25 million) which Bulgaria plans to implement satisfies the conditions for compatibility with the internal market set out in chapter IV of the Railway Guidelines.
Zato je zelo verjetno, da likvidacijska vrednost sredstev družbe BDZ Holding ne bi zadoščala za pokritje stroškov likvidacije, plače zaposlenih v družbi in vse njene neporavnane obveznosti.
Since Bulgaria did not clarify the origin and evolution of BDZ Holding's outstanding liabilities towards NRIC before the Opening Decision, the non-enforcement of those overdue liabilities has been considered to potentially involve State aid according to Article 107(1) of the Treaty.
Leta 2011, na primer, so stroški likvidacije, plače zaposlenih in vse neporavnane obveznosti znašali 778 milijonov BGN, medtem ko je knjigovodska vrednost sredstev družbe BDZ Holding znašala 933 milijonov BGN.
According to the information provided by Bulgaria (see Section 4.3), part of BDZ Holding's outstanding liabilities towards NRIC constituted liabilities incurred by the company prior to Bulgaria's accession to the Union.
Zato je lahko NŽID v primeru sprožitve skupnih postopkov v primeru insolventnosti realno pričakovala samo povrnitev manjšega dela svojih neporavnanih terjatev.
A portion of this pre-accession debt (up to BGN 26,3 million) was subsequently refinanced with proceeds from a bond issue of 19 November 2007, which is still outstanding debt and, therefore, subject to assessment under ‘Measure 2: Cancellation of the debts incurred prior to 2007’ in Section 6.1.
Poleg tega Komisija meni, da lahko v skladu z ustaljeno sodno prakso stroški, skupaj s trajanjem sodnih postopkov, vplivajo na odločitev upnika o likvidaciji podjetja [36].
In other words, NRIC was paid.
V zvezi s tem se Komisija strinja, da je imela NŽID poseben interes za nadaljevanje sodelovanja z družbo BDZ Holding in njenima odvisnima družbama, ne le zaradi prihodnjih komercialnih prihodkov, ki bi jih ustvarila družba BDZ Holding, temveč tudi z namenom, da si povrne čim več neporavnanih neprednostnih obveznosti, nastalih do novembra 2011, namesto da se sproži likvidacija družbe.
In addition, and with a view to explaining the situation in relation to the remaining outstanding liabilities, Bulgaria provided further information on the enforcement arrangements and steps undertaken by NRIC (see Section 4.3).
Komisija ugotavlja, da začetek dolgotrajnih skupnih postopkov v primeru insolventnosti, ki bi vodili do prisilne likvidacije skupine z negotovo in nizko stopnjo izterjave, ne bi bil primerna in realna možnost za NŽID, namenjena čim večji izterjavi njenih terjatev.
According to Bulgaria, NRIC had undertaken all the necessary steps to collect the overdue obligations from BDZ Holding and its subsidiaries to maximise the recovery of the amounts due, but without initiating legal proceedings.
Komisija dejansko ugotavlja, da so družba BDZ Holding in njeni odvisni družbi redno odplačevale svoje dolgove do NŽID in da slednja ni bila obravnavana drugače kot drugi zasebni upniki skupine.
In order to verify whether NRIC unduly favoured BDZ Holding as regards the delay and the arrangements for the payment of overdue liabilities, the Commission has to assess whether it could have benefited from such arrangements under normal market conditions [33].
Družba BDZ Holding se v primeru zamude pri plačilu ni okoristila zaradi odloga odplačila, saj se je v primeru zamud pri plačilu NŽID pripisala precejšnja marža na temeljno obrestno mero Bolgarske nacionalne banke v višini 1000 bazičnih točk (glej uvodno izjavo 48).
To that effect, the Commission has to assess whether a hypothetical market economy creditor in a situation similar to NRIC, seeking to obtain the maximum payment of the amounts owned to it, would have accepted the delay and entered into the renegotiation of the payment of overdue liabilities on similar terms and conditions [34].
Za ponazoritev, Komisija meni, da je 1000 bazičnih točk približek tržno skladni obrestni marži na posojilo z zavarovanjem nizke kakovosti, dano družbi v finančnih težavah, kot je BDZ Holding [37].
In other words, the Commission has to assess whether NRIC acted with the same due diligence as a market economy creditor, before choosing between an individual and amicable enforcement of its claims or the initiation of a collective recovery procedure leading eventually to the bankruptcy of BDZ Holding and its subsidiaries.
Zapadle obveznosti so bile poplačane z rednimi neposrednimi bančnimi nakazili, pobotom obveznosti NŽID do družbe BDZ Holding in njenih odvisnih družb ter konverzijami dolga v lastniški delež.
The Commission notes that in order to identify the most advantageous alternative a diligent market economy creditor would assess the advantages and the disadvantages of each of the alternatives, taking into account, inter alia, the recoverable amounts, its prior economic exposure, the duration of the recovery process and the costs [35].
Na primer, med letoma 2011 in 2016 so družba BDZ Holding in njeni odvisni družbi plačale 503 milijone BGN (257 milijonov EUR) za storitve, ki jih je zagotovila NŽID.
The Commission first observes that the debts towards NRIC arose in the context of a regular and long-term commercial relationship between (State-owned) undertakings: BDZ Holding and its subsidiaries were key customers of NRIC and generated more than 70 % of its operating revenue.
V primerjavi z majhno verjetnostjo, da si NŽID povrne kvečjemu majhen del terjatev v primeru likvidacije družbe BDZ Holding, znesek dolga, ki je bil odplačan NŽID od leta 2011, a posteriori potrjuje, da je bila odločitev NŽID, da ne bo izterjala svojih terjatev, najbolj racionalna.
The origin of BGN 46,5 million of debt owed by NRIC to BDZ Holding accumulated between 2008 and 2011 for various services provided to NRIC (Table 3) also provides additional evidence that there is continuous interaction and interdependence between NRIC and BDZ Holding.
Čeprav podatki niso značilni za dolg iz predpristopnega obdobja, naveden v sklepu o začetku postopka, Komisija dodatno ugotavlja, na primer glede plačila obveznosti s konverzijami dolga v lastniški delež, ki so bile izvedene po sklepu o začetku postopka, da je NŽID sklenila sporazume z družbo BDZ Holding in njenima odvisnima družbama na čisto poslovni podlagi, kot je opisano v uvodnih izjavah 51, 52 in 53, v katerih je priznala zapadle dolgove ter tako olajšala njihovo odplačilo.
A possible market exit of BDZ Holding and its subsidiaries resulting from collective insolvency proceedings would therefore have had a serious immediate negative impact on NRIC's financial situation.
Na podlagi dodatnih informacij in ustreznih dokazil, ki jih je predložila Bolgarija, in glede na zgoraj navedeno Komisija meni, da je NŽID ravnala kot upnik v tržnem gospodarstvu, zato odlog odplačila dolgov in dogovori med NŽID ter družbo BDZ Holding in njenima odvisnima družbama le-tem niso zagotovili nobene neupravičene gospodarske prednosti, ki je ne bi imele pod običajnimi tržnimi pogoji.
In turn, the bankruptcy of BDZ Holding would have reduced NRIC's profits and its ability to adequately maintain the national rail network, thus risking further decreases of commercial revenues accruing from other clients, in addition to BDZ Holding's subsidiaries.
Komisija zato sklepa, da način, na katerega so družba BDZ Holding in njeni odvisni družbi obravnavale svoje zapadle dolgove do upravljavca infrastrukture (NŽID) pred novembrom 2011, ni predstavljal državne pomoči v smislu člena 107(1) Pogodbe.
It follows that a market creditor engaged like NRIC in a similar commercial relationship with its debtor(s) like BDZ Holding would thus have approached with circumspection any hypothetical enforcement action leading to its main client disappearing from the market, unlike a creditor having one-off debt claims and not commercially and financially dependent on its debtor remaining active on the market after enforcement of its claims.
Ker so zahtevani pogoji za določanje obstoja državne pomoči v smislu člena 107(1) Pogodbe kumulativni, se njene določbe ne uporabljajo, če eden od njih ni izpolnjen.
Second, NRIC's claims towards BDZ Holding and its subsidiaries could not have been enforced as preferential claims under hypothetical collective insolvency proceedings, in which no particular preference for repayment of NRIC among other creditors could have been implemented (see recital 49).
Zato ni treba oceniti, ali neplačilo zapadlih dolgov družbe BDZ Holding in njenih odvisnih družb do NŽID v preteklosti izpolnjuje druge pogoje iz člena 107(1) Pogodbe.
Moreover, the debt identified in the Opening Decision as owing to NRIC (BGN 45 million) was smaller than the debt owed to other creditors (see Table 1).
UKREP 4: POVRAČILO DDV DRUŽBI BDZ HOLDING EAD S STRANI DRŽAVE
What is more, the book value of BDZ Holding's assets would need to be reduced by a liquidation discount in a forced sale under the collective insolvency proceedings.
Komisija je sprožila preiskavo ukrepa 4, saj Bolgarija ni pojasnila razlogov za povračilo DDV in ali je to v skladu z Direktivo 2006/112/ES.
Depending on the type of the assets, the liquidation discount can amount to up to 75 % of the asset value.
Zato je Komisija menila, da bi povračilo DDV lahko vključevalo državno pomoč v skladu s členom 107(1) Pogodbe.
Therefore, it is very likely that the liquidation value of BDZ Holding's assets would not have been sufficient to cover the liquidation costs, the salaries of its employees and all its outstanding liabilities Taking 2011 as an example, liquidation costs, salaries of employees and all outstanding liabilities amounted to BGN 778 million whereas the book value of BDZ Holding's assets was BGN 933 million.
Komisija je zato pozvala Bolgarijo, da posreduje dodatne podatke o razlogih za povračilo DDV družbi BDZ Holding.
Consequently, NRIC could realistically expect to recover only a minor fraction of its outstanding claims, if collective insolvency proceedings had been initiated.
Po sklepu o začetku postopka je Bolgarija pojasnila, da se ukrep 4 nanaša na povračilo neupravičeno zaračunanega in plačanega DDV v znesku 72 milijonov BGN (36,7 milijona EUR) na nadomestila za OJS, prejeta od Ministrstva za promet za obdobje od 1. decembra 2004 do 29. februarja 2008 (glej uvodne izjave 55 do 59).
Furthermore, the Commission considers, in line with settled case-law, that the costs, together with the length of court proceedings, may influence a creditor's decision whether to proceed with the liquidation of a company [36].
Bolgarija je dodatno pojasnila, da so pristojni nacionalni davčni organi med pregledom v skladu z veljavnimi določbami nacionalne zakonodaje odkrili upravno napako.
In this context, the Commission agrees that NRIC had a particular interest in continuing its cooperation with BDZ Holding and its subsidiaries, not only on account of future commercial revenues generated by BDZ Holding but also with the aim of maximising the recovery of the outstanding non-preferential liabilities accumulated until November 2011 instead of initiating the liquidation of the company.
Napaka je bila popravljena z davčnimi odločbami o povračilu št. 2900180 z dne 14. januarja 2009, 290900153 z dne 8. julija 2009, 100337 z dne 12. avgusta 2010 in 290100380 iz februarja 2011.
The Commission concludes that the initiation of lengthy collective insolvency proceedings leading to a forced liquidation of the group with an uncertain and low recovery rate would not have been a valid and realistic option for NRIC with a view to maximising the recovery of its debt claims.
Komisija ugotavlja, da ni samo dodelitev pozitivne gospodarske prednosti pomembna za pojem državne pomoči.
Indeed, the Commission observes that BDZ Holding and its subsidiaries have been regularly serving their debts towards NRIC and NRIC has not been treated differently from other private creditors of the group.
Tudi razbremenitev gospodarskega bremena, na primer davčne ugodnosti, lahko predstavlja prednost.
Where late payments occurred, BDZ Holding has not been advantaged by the postponement of repayment since late payments to NRIC have attracted a sizeable margin of 1000 basis points on top of the basis interest rate of the Bulgarian National Bank (see recital 48).
Zato je treba preučiti, ali je povračilo DDV na nadomestila za OJS, prejeta od Ministrstva za promet, pomenilo gospodarsko prednost za družbo BDZ Holding prek ublažitve stroškov, ki običajno bremenijo proračun podjetij [38], ali je bil DDV na nadomestilo za OJS dejansko neupravičeno obračunan.
By way of illustration, the Commission considers that 1000 basis points is a proxy of market-conform interest margin on a loan with low quality collateral to a company in financial difficulties, such as BDZ Holding [37].
V primeru povračila nezakonito obračunanih davkov ne obstaja nobena prednost [39].
Overdue liabilities were repaid through regular direct bank transfers, offsetting of liabilities of NRIC towards BDZ Holding and its subsidiaries and debt-to-asset swaps.
V skladu s členom 73 Direktive 2006/112/ES je opravljanje storitev, vključno s storitvami potniškega prometa, predmet DDV, davčna osnova pa zajema vse, kar predstavlja plačilo, ki ga je prejel ali ga bo prejel dobavitelj ali izvajalec od pridobitelja, prejemnika ali tretje osebe za te dobave, vključno z nadomestilom ali subvencijami, ki so neposredno povezane s ceno takšnih dobav.
For example, between 2011 and 2016 BDZ Holding and its subsidiaries paid an amount of BGN 503 million (EUR 257 million) for services provided by NRIC.
Poleg tega podjetja, pooblaščena za OJS, niso oproščena DDV v skladu s členom 132 navedene direktive.
Compared with a low likelihood of recuperating a proportion, minor if at all, of NRIC's claims if BDZ Holding had been liquidated, the amount of debt repaid to NRIC since 2011 confirms a posteriori that the choice made by NRIC not to enforce its claims was the most rational one.
Zato je treba oceniti, ali je bilo nadomestilo za OJS, ki ga je prejela družba BDZ Holding, neposredno povezano s ceno opravljenih storitev.