natgillin/translations-raw huggingface dataset:
By letter dated 5 April 2017, Bulgaria modified its notification by reducing the amount of debt that it planned to cancel through the debt cancellation measure which was part of the measures referred to in recital 1.
OPIS UKREPOV
By letter dated 7 November 2016, Bulgaria agreed exceptionally to have this Decision adopted and notified in English only.
UPRAVIČENEC
DESCRIPTION OF THE MEASURES
Upravičenke ukrepov so družba BDZ Holding in njeni odvisni družbi, BDZ Passenger in BDZ Cargo, ki sta v 100-odstotni državni lasti in proti plačilu zagotavljata storitve železniškega potniškega in tovornega prometa v Bolgariji.
THE BENEFICIARY
Delniška družba BDZ Holding [4] je bila ustanovljena leta 2001, ko so se Bolgarske nacionalne železnice razdelile na Nacionalno železniško infrastrukturno družbo (v nadaljnjem besedilu: NŽID) in ponudnika prevoznih storitev (v nadaljnjem besedilu: BDZ Holding).
The beneficiary of the measures is BDZ Holding and its subsidiaries, BDZ Passenger and BDZ Cargo, 100 % State-owned companies, providing passenger and freight rail transport services against remuneration in Bulgaria.
Leta 2007 se je družba BDZ Holding preoblikovala v holding in ustanovila tri odvisne družbe, ki so dejavne v sektorjih tovornega prometa, potniškega prometa in vlečnih storitev.
BDZ Holding [4], a joint stock company, was created in 2001, when the Bulgarian National State Railways were split into a railway infrastructure company, National Railway Infrastructure Company ( ‘NRIC’) and a transport service provider (‘BDZ Holding’).
Matična družba BDZ Holding je imela v lasti potniške in tovorne vagone ter lokomotive, ki jih je dala v zakup svojim odvisnim družbam.
In 2007, BDZ Holding was reorganised into a holding structure and it set up three subsidiaries active in freight transport, passenger transport and traction services.
Slednje so bile odgovorne za vzdrževanje voznega parka.
The parent company BDZ Holding owned passenger and freight wagons, and locomotives, which it leased to its subsidiaries.
Družba BDZ Holding je bila odgovorna tudi za odplačevanje dolgov, nastalih pred preoblikovanjem.
The latter were responsible for the maintenance of the rolling stock.
Ker se je ta struktura izkazala za neučinkovito, so se vlečne službe leta 2010 združile v družbo BDZ Holding.
BDZ Holding was also responsible for servicing debts incurred prior to the reorganisation.
Leta 2011 je bilo lastništvo potniških in tovornih vagonov ter lokomotiv preneseno z družbe BDZ Holding na odvisni družbi BDZ Passenger in BDZ Cargo.
As this structure turned out to be inefficient, in 2010, the traction services were merged into BDZ Holding.
Družba BDZ Holding je ostala lastnica vseh poslovno nepotrebnih osnovnih sredstev.
In 2011 the ownership of the passenger and cargo wagons and locomotives was transferred from BDZ Holding to the subsidiaries BDZ Passengers and BDZ Cargo.
Družba BDZ Holding ima sedež v Sofiji, Bolgarija, in opravlja storitve tovornega in potniškega prometa na celotnem ozemlju Bolgarije, ki je v celoti upravičena do regionalne pomoči v skladu s členom 107(3)(a) Pogodbe.
BDZ Holding remained the owner of all non-operating assets.
BDZ Cargo, družba z omejeno odgovornostjo, je dejavna na mednarodnem in nacionalnem trgu železniškega tovornega prometa.
BDZ Holding has its registered office in Sofia, Bulgaria, and operates its freight and passenger services throughout the territory of Bulgaria, which is entirely eligible for regional aid pursuant to Article 107(3)(a) of the Treaty.
Leta 2016 je tržni delež družbe BDZ Cargo (v neto tonskih kilometrih) znašal 43 %, njeni glavni tekmeci pa so bili Bulgarian Railway Company (25 %), DB Schenker Rail Bulgaria (18 %), Bulmarket (6 %) in Rail Cargo (4 %).
Bulgaria liberalised the freight rail market in 2007.
BDZ Passenger opravlja obveznost javne službe (v nadaljnjem besedilu: OJS), ki predstavlja približno 90 % trga železniškega potniškega prometa.
Since then, several private operators have entered the market.
Družba BDZ Passenger je leta 2009 podpisala pogodbo o OJS za obdobje 15 let (2010–2025).
In 2016, BDZ Cargo's market share (in net-tonne kilometres) amounted to 43 % and its main competitors were Bulgarian Railway Company (25 %), DB Schenker Rail Bulgaria (18 %), Bulmarket (6 %) and Rail Cargo (4 %).
OPIS UKREPOV IN RAZLOGI ZA ZAČETEK POSTOPKA
BDZ Passenger, a limited liability company, is the only provider of national passenger transport services in Bulgaria.
V sklepu o začetku postopka je Komisija opredelila štiri ukrepe, ki bi lahko pomenili državno pomoč družbi BDZ Holding in njenima odvisnima družbama, BDZ Passenger in BDZ Cargo:
BDZ Passenger discharges a public service obligation (‘PSO’) amounting to approximately 90 % of the passenger rail transport market.
Ukrep 1: Pomoč za prestrukturiranje, ki zajema šest dokapitalizacij družbe BDZ Holding v višini 550 milijonov BGN (281 milijonov EUR [5]);
BDZ Passenger's PSO Contract was signed in 2009 with duration of 15 years (2010-2025).
Ukrep 2: Plačilo dolgov, nastalih pred letom 2007;
DESCRIPTION OF THE MEASURES AND GROUNDS FOR INITIATING THE PROCEDURE
Ukrep 3: Neplačilo zapadlih dolgov družbe BDZ Holding upravljavcu infrastrukture (NŽID);
In the Opening Decision, the Commission identified four measures as potentially constituting State aid to BDZ Holding and its subsidiaries, BDZ Passenger and BDZ Cargo:
Ukrep 4: Vračilo davka na dodano vrednost (v nadaljnjem besedilu: DDV) družbi BDZ Holding s strani države.
Measure 1: Restructuring aid consisting of six capital increases into BDZ Holding amounting to BGN 550 million (EUR 281 million [5]);
UKREP 1: POMOČ ZA PRESTRUKTURIRANJE
Measure 2: Cancellation of the debts incurred prior to 2007;
Komisija je v sklepu o začetku postopka izrazila mnenje, da bi pomoč za prestrukturiranje pomenila državno pomoč v smislu člena 107(1) Pogodbe, in izrazila dvom glede združljivosti te pomoči z notranjim trgom.
Measure 3: Non-payment by BDZ Holding of overdue debts towards the infrastructure manager (NRIC);
UKREP 2: PLAČILO DOLGOV, NASTALIH PRED LETOM 2007
MEASURE 1: RESTRUCTURING AID
Obveznosti in rezervacije družbe BDZ Holding so se nanašale na (i) posojila finančnih institucij, kot so Kreditanstalt für Wiederaufbau (v nadaljnjem besedilu „KfW“), Evropska banka za obnovo in razvoj („EBRD“) in Mednarodna banka za obnovo in razvoj („IBRD“), ki so bila namenjena zlasti obnovi voznega parka, pa tudi na (ii) s trgovino povezane obveznosti, med drugim do bolgarskega upravljavca železniške infrastrukture NŽID, rezervacije in obveznosti do zaposlenih in ponudnikov zavarovanj kot tudi druge obveznosti, vključno z obveznostmi, ki izhajajo iz pogodbe o nakupu voznega parka, sklenjene med BDZ Holding, Siemens in KfW leta 2005.
Bulgaria envisaged granting restructuring aid in the form of six capital increases in BDZ Holding amounting to BGN 550 million (EUR 281 million) in the years 2011-2016 and notified that restructuring aid to the Commission in 2011.
Zneski teh obveznosti in rezervacij so razčlenjeni, kot je prikazano v preglednici 1.
However, to date, the relevant public authorities have not taken a definitive decision to grant the aid and the funds have not been paid to BDZ Holding.
Preglednica 1
In the Opening Decision, the Commission considered that the restructuring aid would constitute State aid within the meaning of Article 107(1) of the Treaty and expressed doubts as to whether that aid would be compatible with the internal market.
Pregled obveznosti in rezervacij družbe BDZ Holding in njenih odvisnih družb na dan 31. decembra 2006
MEASURE 2: CANCELLATION OF THE DEBTS INCURRED PRIOR TO 2007
(v milijonih BGN)
According to the information submitted by Bulgaria, prior to Bulgaria's accession to the Union on 1 January 2007, BDZ Holding and its subsidiaries had outstanding liabilities and provisions amounting to BGN 806729558 (EUR 412 million) on 31 December 2006.
Skupne obveznosti družbe BDZ Holding in njenih odvisnih družb na dan 31. decembra 2006
The liabilities and provisions of BDZ Holding concerned: (i) loans from financial institutions such as Kreditanstalt für Wiederaufbau (‘KfW’), European Bank for Reconstruction and Development (‘EBRD’) and International Bank for Reconstruction and Development (‘IBRD’), the purpose of which was mainly the rehabilitation of rolling stock; but also (ii) trade-related obligations, including towards the Bulgarian rail infrastructure operator NRIC, provisions and obligations towards staff and insurance providers as well as other liabilities, including the liabilities resulting from an agreement for the purchase of rolling stock concluded between BDZ Holding, Siemens and KfW in 2005.
Obveznosti do finančnih institucij
The amounts of those liabilities and provisions are broken down as follows in Table 1.
Pogodba SIEMENS/KfW
Table 1
Trgovinske obveznosti
Overview of liabilities and provisions of BDZ Holding and its subsidiaries on 31 December 2006
Obveznosti do zaposlenih in ponudnikov zavarovanja
(in BGN million)
Druge obveznosti, vključno z davki in rezervacijami
Total liabilities of BDZ Holding and its subsidiaries on 31 December 2006
Skupaj obveznosti
Liabilities towards financial institutions
Bolgarija je predvidela prevzem dela ali vseh obveznosti, ki so nastale družbi BDZ Holding in njenim odvisnim družbam pred 1. januarjem 2007.
SIEMENS/KfW Agreement
Komisija je v sklepu o začetku postopka izrazila mnenje, da bi odpis obveznosti pomenil državno pomoč v smislu člena 107(1) Pogodbe, in izrazila dvom glede združljivosti te pomoči z notranjim trgom.
Trade obligations
Bolgarija se ni sklicevala na uporabo niti ni utemeljila, ali je ukrep v skladu z zadevnimi zahtevami smernic za železniški promet [6].
Obligations towards staff and insurance providers
Komisija zato ni mogla sprejeti stališča o združljivosti te pomoči z notranjim trgom.
Other liabilities, including tax and provisions
UKREP 3: NEPLAČILO ZAPADLIH DOLGOV DRUŽBE BDZ HOLDING IN NJENIH ODVISNIH DRUŽB UPRAVLJAVCU INFRASTRUKTURE (NŽID)
Total liabilities
Glede na podatke, ki jih je posredovala Bolgarija, družba BDZ Holding in njene odvisne družbe niso plačevale vseh uporabnin za uporabo infrastrukture NŽID.
Bulgaria envisaged taking over part or all of the liabilities incurred before 1 January 2007 by BDZ Holding and its subsidiaries.
Zato je v sklepu o začetku postopka navedeno, da neporavnane trgovinske obveznosti do NŽID znašajo 45 milijonov BGN.
In the Opening Decision, the Commission considered that the cancellation of liabilities would constitute State aid within the meaning of Article 107(1) of the Treaty and expressed doubts as to whether that aid would be compatible with the internal market.
Ker Bolgarija ni pojasnila izvora in razvoja teh trgovinskih obveznosti, je Komisija v sklepu o začetku postopka izrazila mnenje, da bi lahko neizterjava teh dolgov vključevala državno pomoč v smislu člena 107(1) Pogodbe.
Bulgaria did not invoke the application or justify whether the measure was in line with the relevant requirements Railway Guidelines [6].
V zvezi s tem je Komisija navedla, da bi lahko v skladu s sodno prakso neizterjava obveznosti s strani javnih podjetij [7] vključevala državno pomoč, če hipotetični udeleženec v tržnem gospodarstvu v enakem položaju ne bi ravnal na enak način kot javna podjetja in bi obveznosti izterjal [8].
The Commission was therefore unable to take a position on the compatibility of this aid with the internal market.
Vendar pa Komisija ni imela natančnih dejanskih dokazov, da NŽID ni sprejela ukrepov, ki bi jih skrben upnik v enakem položaju.
MEASURE 3: NON-PAYMENT BY BDZ HOLDING AND ITS SUBSIDIARIES OF OVERDUE DEBTS TOWARDS THE INFRASTRUCTURE MANAGER (NRIC)
Zato je Komisija pozvala Bolgarijo, da zagotovi podatke o tem, ali in kako je NŽID poskušala izterjati neporavnane obveznosti.
According to the information provided by Bulgaria, BDZ Holding and its subsidiaries had not been paying all the infrastructure charges due to NRIC.
V obsegu, kot je bilo ugotovljeno, da ukrep vključuje državno pomoč, je Komisija izrazila pomisleke o njegovi skladnosti z notranjim trgom tudi v okviru takrat priglašene pomoči za prestrukturiranje in priloženega načrta prestrukturiranja.
As a consequence, the Opening Decision recorded outstanding trade liabilities owed to NRIC amounting to BGN 45 million.
V zvezi s tem je Komisija pozvala Bolgarijo, da dopolni načrt prestrukturiranja, tako da zagotovi informacije o tem, kako bodo poravnani dolgovi do NŽID.
Since Bulgaria did not clarify the origin and evolution of those trade liabilities, the Commission considered in the Opening Decision that the non-enforcement of those debts could potentially involve State aid within the meaning of Article 107(1) of the Treaty.
UKREP 4: POVRAČILO NEUPRAVIČENO ZARAČUNANEGA DDV DRUŽBI BDZ HOLDING S STRANI DRŽAVE
In this regard, the Commission noted that according to the case law, the non-enforcement of liabilities by public undertakings [7] might involve State aid if a hypothetical market economy operator in the same position would not have behaved in the way the public undertakings did and would have enforced them [8].
V podatkih, ki jih je zagotovila, Bolgarija navaja, da je družbi BDZ Holding v preteklosti povrnila davek na dodano vrednost (v nadaljnjem besedilu: DDV) v višini 72 milijonov BGN (36,7 milijona EUR).
However, the Commission did not possess precise factual indications that NRIC had not taken the steps that a diligent creditor in the same situation would have taken.
Ker na stopnji sklepa o začetku postopka Bolgarija ni pojasnila razlogov za povračilo DDV in ali je ravnala v skladu z Direktivo Sveta 2006/112/ES [9], je Komisija menila, da bi povračilo DDV lahko vključevalo državno pomoč v smislu člena 107(1) Pogodbe.
Therefore, the Commission invited Bulgaria to provide information as to whether and how NRIC had tried to enforce the outstanding liabilities.
V zvezi s tem je Komisija navedla, da v skladu s sodno prakso pojem pomoči ne zajema le pozitivnih učinkov, ampak tudi ukrepe, ki v različnih oblikah zmanjšujejo obremenitve, ki jih navadno imajo podjetja.
To the extent that the measure was found to involve State aid, the Commission also expressed doubts as to its compatibility with the internal market in the context of the then notified restructuring aid and accompanying restructuring plan.
Zato je Komisija pozvala Bolgarijo, da posreduje dodatne podatke o razlogih za povračilo DDV družbi BDZ Holding.
In that respect, the Commission invited Bulgaria to complement the restructuring plan by providing information as to how these debts with NRIC would be settled.
PRIPOMBE ZAINTERESIRANE STRANI
MEASURE 4: REIMBURSEMENT OF WRONGFULLY CHARGED VAT BY THE STATE TO BDZ HOLDING
Konkurent družbe BDZ Cargo, ki je dejaven na področju zagotavljanja storitev železniškega tovornega prometa in ni želel razkriti svoje identitete, je podal pripombe o dveh ukrepih, opredeljenih v sklepu o začetku postopka.
According to the information provided by Bulgaria, Bulgaria had reimbursed value added tax (‘VAT’) amounting to BGN 72 million (EUR 36,7 million) to BDZ Holding in the past.
Glede na načrtovano pomoč za prestrukturiranje (ukrep 1) je konkurent predlagal, da se neizrabljene lokomotive družbe BDZ Holding in njenih odvisnih družb BDZ Passenger in BDZ Cargo prodajo kot izravnalni ukrep.
Since at the stage of the Opening Decision Bulgaria did not clarify the reasons for the VAT reimbursement and whether it complied with Council Directive 2006/112/EC [9], the Commission considered that the VAT reimbursement could potentially involve State aid within the meaning of Article 107(1) of the Treaty.
Konkurent je navedel, da družba BDZ Holding ni omogočila dostopa do svojega neizrabljenega voznega parka konkurentom, ki niso imeli nobenega drugega razpoložljivega vira za nakup ali zakup lokomotiv.
In this regard, the Commission noted that according to case law, the concept of aid embraces not only positive benefits, but also measures which, in various forms, mitigate the charges which are normally included in the budget of an undertaking.
Kar zadeva neplačevanje zapadlih dolgov družbe BDZ Holding in njenih odvisnih družb NŽID (ukrep 3), je konkurent navedel, da morajo sicer vsi prevozniki tovora plačati enake uporabnine, vendar neizterjava akumuliranih obveznosti do NŽID ustvarja konkurenčno prednost za družbo BDZ Holding in njeni odvisni družbi.
Therefore, the Commission invited Bulgaria to provide further information on the reasons for the reimbursement of VAT to BDZ Holding.
Poleg tega je konkurent zahteval, da se družbi BDZ naložijo izravnalni ukrepi v smislu Smernic o državni pomoči za reševanje in prestrukturiranje nefinančnih podjetij v težavah ter smernic za železniški promet in da se družba BDZ Cargo privatizira pod tržnimi pogoji.
COMMENTS FROM AN INTERESTED PARTY
PRIPOMBE BOLGARIJE
A competitor of BDZ Cargo active in the provision of rail freight services, which did not want to have its identity disclosed, submitted observations on two measures identified in the Opening Decision.
V odgovoru na sklep o začetku postopka in naknadnih podatkih je Bolgarija predložila pripombe in dodatna pojasnila o dejstvih iz sklepa o začetku postopka.
With regard to the planned restructuring aid (Measure 1), the competitor suggested that unused locomotives of BDZ Holding and its subsidiaries, BDZ Passenger and BDZ Cargo should be sold as a compensatory measure.
UKREP 1: POMOČ ZA PRESTRUKTURIRANJE – UMIK PRIGLASITVE
The competitor stated that BDZ Holding was not granting access to its unused fleet to the competitors, who had no other available source from which to acquire or lease locomotives.
Z dopisom z dne 22. aprila 2014 je Bolgarija umaknila priglasitev pomoči za prestrukturiranje.
With regard to non-payment by BDZ Holding and its subsidiaries of overdue debts towards NRIC (Measure 3), the competitor stated that although all freight transport carriers are obliged to pay the same fees, the non-enforcement of the accumulated liabilities towards NRIC generates a competitive advantage to BDZ Holding and its subsidiaries.
Vendar pa je bila pomoč za prestrukturiranje omenjena v poznejših navedbah in končno umaknjena z dopisom z dne 7. novembra 2016.
In addition, the competitor requested that compensatory measures under the Guidelines on State aid for rescuing and restructuring non-financial undertakings in difficulty and the Railway Guidelines be imposed on BDZ and that BDZ Cargo be privatised on market terms.
Bolgarija je navedla, da namerava namesto odobritve pomoči za prestrukturiranje družbi BDZ Holding refinancirati obveznosti družbe BDZ Holding s plačilom dela dolgov, ki so nastali in so bili neporavnani pred pristopom Bolgarije.
COMMENTS FROM BULGARIA
Bolgarija je pojasnila, da je 31. decembra 2006, dan pred njenim pristopom k Uniji, skupni znesek obveznosti in rezervacij družbe BDZ Holding znašal 806,7 milijona BGN (412 milijonov EUR), kot je prikazano v preglednici 1.
In its reply to the Opening Decision and subsequent information, Bulgaria provided comments and further clarifications on the facts referred to in the Opening Decision.
Ob upoštevanju obveznosti, ki jih je odplačala družba BDZ Holding, in njenih finančnih potreb, je Bolgarija predvidela odpis obveznosti družbe BDZ Holding v znesku 601,9 milijona BGN (307,1 milijona EUR).
MEASURE 1: RESTRUCTURING AID — WITHDRAWAL OF THE NOTIFICATION
Vendar pa je z dopisom z dne 5. aprila 2017 Bolgarija spremenila svojo priglasitev in zaprosila Komisijo, naj odobri plačilo dolga v višini 223,45 milijona BGN (114,25 milijona EUR).
By letter dated 22 April 2014, Bulgaria withdrew the notification of the restructuring aid.
Po spremembi priglasitve se dolgovi, ki naj bi bili plačani, vključno z zamudnimi obrestmi, nanašajo na (i) še vedno neporavnane dolgove do KfW IPEX Bank iz predpristopnega obdobja in (ii) dolgove, nastale do imetnikov obveznic v zvezi z izdajo obveznic ISIN BG2100032072 z dne 19. novembra 2007 in do Ministrstva za finance, s katerimi naj bi refinancirali dolgove do KfW IPEX Bank, EBRD, IBRD, NŽID in NEC AD iz predpristopnega obdobja.
However, the restructuring aid was mentioned in subsequent submissions and was finally withdrawn by letter dated 7 November 2016.
Bolgarija je Komisiji posredovala podatke o neporavnanih zneskih in pojasnila, kakor je opisano v nadaljevanju (glej preglednico 2).
Bulgaria indicated that, instead of granting the restructuring aid to BDZ Holding, it intended to refinance BDZ Holding's liabilities by cancelling part of the debts incurred and outstanding prior to Bulgaria's accession.
Preglednica 2
Bulgaria explained that, on 31 December 2006, 1 day before its accession to the Union, the total amount of liabilities and provisions of BDZ Holding amounted to BGN 806,7 million (EUR 412 million), as shown in Table 1.
Obveznosti družbe BDZ Holding na dan 31. decembra 2006, za katere je bil predviden odpis
Whilst taking into account the liabilities repaid by BDZ Holding and its financial needs, Bulgaria envisaged cancelling liabilities of BDZ Holding amounting to BGN 601,9 million (EUR 307,1 million).
Vir: Navedbe Bolgarije z dne 5. aprila 2017.
However, by letter dated 5 April 2017, Bulgaria modified its notification and requested the Commission to approve a debt cancellation amounting to BGN 223,45 million (EUR 114,25 million).
Kategorija upnika/zneski v BGN na dan 31. marca 2017
Following the amendment of the notification, the debts planned to be cancelled, including penalty interest, concern: (i) still outstanding pre-accession debt towards KfW IPEX Bank; and (ii) debts incurred towards bond holders related to bond issue ISIN BG2100032072 from 19 November 2007 and towards the Ministry of Finance in order refinance pre-accession debts towards KfW IPEX Bank, EBRD, IBRD NRIC and NEC AD.
Znesek neporavnanih dolgov družbe BDZ na dan 31. decembra 2006 v BGN (dolgovi iz predpristopnega obdobja)
Bulgaria provided the Commission with the outstanding amounts still due and explanations, as follows (see Table 2).
Posojilo ali drug dolžniški instrument, s katerim so bili refinancirani dolgovi iz predpristopnega obdobja
Table 2
Neporavnani dolgovi iz predpristopnega obdobja
Liabilities of BDZ Holding on 31 December 2006 envisaged to be cancelled
Neporavnani dolgovi za refinanciranje dolgov družbe BDZ iz predpristopnega obdobja
Source: Submission of Bulgaria dated 5 April 2017
Zamudne obresti
Creditor category/Amounts in BGN as of 31 March 2017
Mednarodni finančni upniki
Amount of BDZ's debts in BGN outstanding on 31 December 2006 (pre-accession debts)
Druga izdaja obveznic z ISIN kodo: BG2100032072 v skladu s ponudbo za odkup dolga iz oktobra 2007
Loan or other debt instrument through which the pre-accession debts was refinanced
Aktivirano državno poroštvo za odplačilo dolga, zaradi katere je družbi BDZ nastal dolg do Ministrstva za finance.
Outstanding pre-accession debts
Dobavitelji
Outstanding debts refinancing BDZ's pre-accession debts
NŽID
International financial creditors
Glede obveznosti do IBRD in EBRD je Bolgarija pojasnila, da so ta posojila, sklenjena v letu 1995, zavarovana s 100-odstotnim državnim poroštvom.
EBRD
Zato je v skladu z zakonom o javnem dolgu [10] država z dnem plačila pristopila k pravicam upnika, ki izhajajo iz posojilnih pogodb, v odnosu do družbe BDZ Holding do zneska izvedenih plačil.
Activated state guarantee for debt repayment which caused BDZ to incur debt to the Ministry of Finance.
Družba BDZ Holding mora v celoti povrniti zneske, ki jih je država plačala IBRD in EBRD, vključno z zamudnimi obrestmi.
0(b) Suppliers
Bolgarija ne izpodbija trditve, da bi plačilo dolga vključevalo državno pomoč v korist družbe BDZ Holding.
NRIC
Vendar pa Bolgarija meni, da bi bilo plačilo dolgov združljivo z notranjim trgom v skladu s točkami 56 do 60 smernic za železniški promet, kot je navedeno spodaj.
NEC AD
Prvič, vse obveznosti so bile jasno določeni posamezni dolgovi, ki so nastali pred pristopom Bolgarije k Uniji.
Total
Bile so zabeležene v konsolidiranem računovodskem izkazu družbe BDZ Holding pred datumom pristopa in/ali izhajale so iz pogodb, ki so bile nepreklicno sklenjene pred tem datumom.