natgillin/translations-raw huggingface dataset:
Off Watch; Outlook Stable; Teleconf 3:30PM BST Today, Standard & Poor's Ratings Direct, 12 July 2002.
„the French State – which owns 55 % of France Télécom – has clearly indicated to Standard & Poor's that it will behave as an aware investor and would take appropriate steps if France Télécom were to face any difficulties.
Press release of the Minister for Economic Affairs and Finance of 13 September 2002, Financial situation of France Télécom.
France Télécom LT rating cut to BBB-.“ („francoska država – ki ima v lasti 55 % družbe France Télécom, je bonitetni agenciji Standard & Poor's jasno navedla, da bi ravnala kot dobro poučena vlagateljica in sprejela ustrezne ukrepe, če bi imela družba FT težave.
Moody's Investors Service, 13 September 2002.
Dolgoročna bonitetna ocena družbe France Télécom je znižana na BBB-“.), po drugi strani pa javno v intervjuju, navedenem v uvodni izjavi 29.
The relevant part of the press release states: ‘Moody's have taken increased comfort from the Government's statement, which once again confirmed their strong support for FT.
Vlada je v sporočilu za javnost 13. septembra ponovno izrazila svojo podporo družbi FT in izrecno poudarila svojo odločitev o udeležbi pri prihodnjem postopku povečanja lastnega kapitala družbe FT:
Whilst Moody's concerns regarding the overall level of financial risk and particularly FT's weak liquidity position remain, Moody's has grown more comfortable with expectation that the French Government will act in a supportive manner, if FT started to encounter difficulties with its debt repayment schedule.’
„[…] Družba France Télécom se po velikih izgubah v prvem polletju spoprijema z velikim primanjkljajem lastnega kapitala.
Press release of the Minister for Economic Affairs and Finance of 2 October 2002.
Vlada je zato odločena, da v celoti izvaja svoje obveznosti. […] Novi izvršni direktor bo upravnemu odboru čim prej predlagal načrt za izboljšanje računovodskih izkazov, ki bo omogočil odpravo dolga in preoblikovanje finančne strukture, ob vzdrževanju strateških prednosti.
France Télécom press release of 5 December 2002, p. 1.
Država bo pomagala družbi France Télécom pri izvajanju tega načrta in prispevala k obsežnemu povečanju lastnega kapitala družbe, in sicer po načrtu in v skladu s pravili, ki se bodo določili glede na tržne pogoje.
Research France Télécom, Standard & Poor's Ratings Direct, 17 December 2002: ‘Since July 2002, support from the French state has been a key rating factor, underpinning the group's investment-grade status.’
Do takrat bo, če bo potrebno, država ukrepala tako, da se bo lahko družba izognila vsem finančnim težavam“.
This statement follows that of 5 December 2002: ‘Standard & Poor's rating services said today that it has affirmed its BBB- long-term and A-3 short-term corporate credit ratings [on FT] … Since July 2002 Standard & Poor's has indicated that expected support from FT's 56 % shareholder, the French State, is a likely factor underpinning the group's investment-grade status.
V sporočilu za javnost z dne 2. oktobra 2002 je vlada ponovila svoje zaveze:
The French State's announcement today that it will immediately grant a EUR 9 billion shareholder loan to help FT face its 2003 debt obligations is viewed by Standard & Poor's as strong evidence of this support’.
„Novi izvršni direktor bo nemudoma začel pregled stanja družbe, katerega rezultati bodo sporočeni upravnemu odboru […] ter na katerem bo temeljil načrt finančne sanacije in strateškega razvoja, ki bo omogočil zmanjšanje dolga družbe ob krepitvi njenih prednosti.
Research France Télécom, Standard & Poor's Ratings Direct, 17 December 2002: ‘The state's December 2002 announcement that it will grant a EUR 9 billion shareholder loan, coupled with its commitment to subscribe to a EUR 15 billion capital increase, underscores this support and provides significant credit protection for FT's debtholders. …, FT and the state's targets in this respect meet Standard & Poor's expectations for the ratings.
V tem okviru bo Thierry Breton užival podporo države v vlogi delničarke, ki je odločena, da bo izvajala vse svoje obveznosti.
While market conditions may challenge the operation, the state's commitment to subscribe to the equity injection — so as to at least maintain its stake — strongly mitigates execution risks’.
Država bo pomagala pri izvajanju dejavnosti finančne reorganizacije in prispevala k povečanju lastnega kapitala družbe na načine, ki bodo določeni v tesnem sodelovanju z izvršnim direktorjem družbe in upravnim odborom.
Information from the Commission — Community Guidelines on State aid for rescuing and restructuring firms in difficulty (Notice to Member States including proposals for appropriate measures) (OJ C 288, 9.10.1999, p. 2).
Kot je bilo že navedeno, bo država medtem, če bo potrebno, ukrepala tako, da se bo lahko družba FT izognila vsem finančnim težavam“.
Memo from Mr Sureau dated 14 January 2004.
Akcijski načrt je sestavljen iz naslednjih elementov:
Now known as Neuf Télécom.
načrta „Plan Total Operational Performance“ (v nadaljnjem besedilu: načrt TOP), v skladu s katerim mora družba FT iz lastnih sredstev sprostiti dodatnih 15 milijard EUR denarnega toka, (ii) delničarjev, pozvanih k povečanju lastnega kapitala v višini 15 milijard EUR, ter (iii) trgov obveznic in bančnih trgov, ki naj bi prispevali znesek v višini 15 milijard EUR.
Decree No 2002-1409 of 2 December 2002 amending Decree No 65-1117 of 17 December 1967 organising ERAP administratively and financially.
V načrt TOP so glede lastnih sredstev vključeni notranji varčevalni ukrepi, namenjeni izboljšanju operativne učinkovitosti družbe FT in povečanju razpoložljivega denarnega toka za zmanjšanje dolga v višini 15 milijard EUR do leta 2005 ter dopolnjeni z ukrepi za odprodajo sredstev.
Article 80 of Law No 2002-1576 of 30 December 2002 rectifying the 2002 Finance Act.
Načrt TOP je glavni steber celotnega načrta, povezanega s sanacijo družbe FT,
Community guidelines on State aid for rescuing and restructuring firms in difficulty (OJ C 244, 1.10.2004, p. 2).
Glede povečanja denarnega toka v treh letih načrt TOP obsega zmanjšanje in optimizacijo naložb (v višini od 40 % do 45 % prihranka), zmanjšanje operativnih stroškov (od 35 % do 40 % prihranka)
The French authorities mention, among other things, bond issues, credit lines, treasury bills, short-term loans and securitisation and derivatives operations.
ter optimizacijo potreb po obratnih sredstvih (od 20 % do 25 % prihranka).
From 26 July 2002 until the presentation of the Ambition 2005 plan on 4 December 2002, France Télécom made a EUR 70 million bond issue on 26 July 2002 and issued a fungible tranche of EUR 150 million with the EUR 3,5 billion debenture loan issued in March 2001.
V ustreznih odstavkih iz tega sporočila za javnost je navedeno:
Commission Decision 2001/89/EC of 23 June 1999 conditionally approving aid granted by France to Crédit Foncier de France (OJ L 34, 3.2.2001, p. 36).
Skupina France Télécom je celovita gospodarska skupina, ki ima izjemne uspehe.
French authorities' comments of 29 July 2003, p. 8.
Vendar se mora družba danes spoprijemati z neuravnoteženo finančno strukturo, s potrebami po lastnem kapitalu in srednjeročnem refinanciranju.
French authorities' comments of 29 July 2003, p. 9.
To stanje je posledica preteklih neuspešnih naložb, ki so bile slabo vodene in izvedene na vrhuncu ‚balona‘, in, splošneje, spremembe trgov.
Judgment of the Court of First Instance of 12 December 1996, Compagnie nationale Air France v Commission, T-358/94, ECLI:EU:T:1996:194; see also Commission Decision 94/662/EC of 27 July 1994 concerning the subscription by CDC participations to bonds issued by Air France (OJ L 258, 6.10.1994, p. 26).
Še poslabšala pa ga je nezmožnost družbe France Télécom, da svoj razvoj financira drugače kot z zadolževanjem.
Judgment of the Court of 15 March 1994, Banco Exterior de España SA, C-387/92, ECLI:EU:C:1994:100, paragraph 13; judgment of the Court of 19 September 2000, Federal Republic of Germany v Commission, C-156/98, ECLI:EU:C:2000:467, paragraph 25; judgment of the Court of First Instance of 13 June 2000, EPAC v Commission, T-204/97 and T-270/97, ECLI:EU:T:2000:148.
Država, ki je večinska delničarka, je od novega vodstva zahtevala, naj vzpostavi finančno uravnoteženost družbe ter pri tem ohrani celovitost skupine. […] 3.
Judgment of the Court of 14 November 1984, SA Intermills v Commission, C-323/82, ECLI:EU:C:1984:345, paragraph 31; Judgment of the Court of First Instance of 27 January 1998, Ladbroke Racing Ltd v Commission, T-67/94, ECLI:EU:T:1998:7, paragraph 52.
Ob upoštevanju akcijskega načrta, ki ga je zasnovalo vodstvo, in obetov o donosnosti naložb bo država udeležena pri povečanju lastnega kapitala v višini 15 milijard EUR sorazmerno s svojim deležem v kapitalu, tj. naložbo v višini 9 milijard EUR.
Judgment of the Court of 2 September 2010, European Commission v Deutsche Post AG, C-399/08 P, ECLI:EU:C:2010:481, paragraph 38 and case law cited; judgment of the Court of 21 December 2016, European Commission v Hansestadt Lübeck, C-524/14 P, ECLI:EU:C:2016:971, paragraph 40; judgment of the Court of 21 December 2016, European Commission v World Duty Free Group SA and Others, C-20/15 P and C-21/15 P, ECLI:EU:C:2016:981, paragraph 53; judgment of the Court of 20 September 2017, European Commission v Frucona Košice a.s., C-300/16 P, ECLI:EU:C:2017:706, paragraph 19.
Država v vlogi delničarke namerava ukrepati tudi kot dobro poučena vlagateljica.
Judgment of the Court of 2 September 2010, European Commission v Deutsche Post AG, C-399/08 P, ECLI:EU:C:2010:481, paragraph 39 and case law cited; judgment of the Court of 21 December 2016, European Commission v Hansestadt Lübeck, C-524/14 P, ECLI:EU:C:2016:971, paragraph 40; judgment of the Court of 21 December 2016, European Commission v World Duty Free Group SA and Others, C-20/15 P and C-21/15 P, ECLI:EU:C:2016:981, paragraph 53; judgment of the Court of 20 September 2017, European Commission v Frucona Košice a.s., C-300/16 P, ECLI:EU:C:2017:706, paragraph 19.
Družba France Télécom bo morala določiti načine in natančen načrt povečanja lastnega kapitala.
Judgment of the Court of 14 September 1994, Spain v Commission, C-278/92 to C-280/92, ECLI:EU:C:1994:325, paragraph 20 and case law cited, and Judgment of the Court of 8 May 2003, Italy and SIM 2 Multimedia v Commission, C-399/00 and C-328/99, EU:C:2003:252, paragraph 36 and case law cited.
Da bi država družbi zagotovila možnost, da s postopkom prične ob najugodnejšem trenutku, je pripravljena pospešiti svojo udeležbo pri povečanju lastnega kapitala z začasnim delničarskim posojilom, plačanim v skladu s tržnimi pogoji, ki ga da na razpolago družbi France Télécom.
Judgment of the Court of 2 September 2010, European Commission v Deutsche Post AG, C-399/08 P, ECLI:EU:C:2010:481, paragraph 40 and case law cited.
Celoten delež države v družbi France Télécom bo prenesen na podjetje ERAP, industrijsko in trgovsko javno podjetje.
See paragraphs 70 to 72 of the Bouygues judgment.
To podjetje se bo zadolžilo na finančnih trgih zaradi financiranja deleža države pri povečanju lastnega kapitala družbe.“
See statements by France Télécom's previous CEO, Michel Bon, appearing in the press: article in La Tribune dated 16 September 2002, ‘… the downgrading is preventing the planned refinancing’; article in Le Monde dated 16 September 2002, ‘the downgrading at the end of June of the rating attributed to FT's debt by the Moody's rating agency … has denied us access to the market’; article in the Financial Times dated 16 September 2002, ‘FT cannot continue to survive when no one wants to lend us money and, on the contrary, when everyone wants to be paid on the nail.
Izjave ministra za gospodarstvo in finance v obdobju od 12. julija do 4. decembra 2002 po njunem mnenju pomenijo državno jamstvo, saj se z njimi zagotavljajo državna sredstva;
In the current markets, the refinancing of our debt is simply out of the question’.
državna sredstva so zagotovljena tudi z delničarskim posojilom in postopkom povečanja lastnega kapitala.
Some even take the view that the Company would not have been able to find the necessary liquidity on the market in the event of a downgrading of its credit rating.
Strokovnjak družb BT dodaja, da se ta sodna praksa izrecno uporablja v posebnem primeru izjav:
See, for example, page 9 of the abovementioned report by Goldman Sachs of 22 July 2002: ‘If these bonds moved from the investment grade segment of the fixed income market, to “junk”, i.e. high yield, they would swamp the current European high yield market … we believe it would be difficult for the existing European investor base alone to absorb all France Telecom bonds. ’
upravno sodišče tako meni, da obljube pomenijo zaveze, tudi če jim ni priložen noben posebni pravni akt, saj izražajo željo upravnega organa.
NERA report: ‘The results of an event study analysing the effect on share and bond prices of the announcement on 12 July 2002.
Družba LDCOM pojasnjuje, da obvestilo o zagotovitvi kreditne linije v višini 9 milijard EUR pomeni pomoč;
The study shows that there is a strong positive effect: as a result of the statement, market participants believed the cash flows that France Télécom would generate were going to be higher than they would have been otherwise.
podpora države se tako s svojim zneskom, pogoji ali celo cilji ne more sklicevati na merilo dobro poučenega vlagatelja.
Moreover the effect is strongly statistically significant: it is not the result of random fluctuations in prices … The market believed that, as a result of the statement, the French Authorities would offer more support to France Télécom than they would do in the absence of any costs of non-performance’.
Družba FT je svoje pripombe predstavila v obliki treh poročil:
Deutsche Bank report of 22 July 2002 entitled France Télécom/Deutsche Telekom Debt Liquidity and possible solution, pp. 19-33.
poročila z dne 12. januarja 2004, ki ga je pripravil g.
A step-up clause determines an increase in a bond's coupon rate and in the interest rates on credit lines as the credit rating declines.
V poročilu je poudarjeno tudi, da je lahko država na podlagi finančnih napovedi družbe FT sklepala o zelo zadovoljivi donosnosti:
By judgment of 19 March 2013 (‘the Bouygues judgment’), the Court of Justice set aside the judgment of 21 May 2010 and referred Cases T-425/04, T-444/04 and T-450/04 back to the General Court for a ruling on the pleas in law raised and the applications submitted to it which it had not previously ruled on.
To poročilo tako izkazuje očitno pomanjkanje objektivnosti, tako s tem, da so bile sprejete zelo sporne pravne analize (zlasti v zvezi z opredelitvijo pisem o nameri in obsegom enostranske zaveze v civilnem in gospodarskem pravu), kot s tem, da so bile za obravnavana dejstva neupravičeno uporabljene neprimerne pravne kvalifikacije (tako je to na primer pri uporabi teorije o poslovodenju ali pravil mednarodnega javnega prava v odnosih med družbo in njeno večinsko delničarko).“
Rating agencies and analysts alike were convinced that France Télécom risked not being able to implement the refinancing plan presented by its management in order to meet its maturities.
Francoski organi glede primerjave julijskih izjav ministra in pisma o nameri poudarjajo, da „(i) je, prvič, bistvo pisma o nameri to, da je naslovljeno na nekega upravičenca,
Earnings after interest (EUR 1,75 billion) but before taxes, shareholdings and minority interests, exclusive of extraordinary items, were EUR 718 million against EUR 271 million as at 30 June 2001.
ter da je, nazadnje, obseg dane zaveze (tako glede njenega cilja kot tudi moči, ki ji jo njen avtor želi pripisati) odvisen izključno od uporabljenih pogojev.“
The operating free cash flow amounted to EUR 3,6 billion, up 15 % on the first six months of 2001.
„V sodni praksi ni […] bilo nikoli ugotovljeno, da bi se na zavezo o jamstvu brez določenega(-ih) upravičenca(-cev) lahko sklicevala katera koli oseba, ki bi imela interes za to.
During the first half of 2004, EUR 11,9 billion worth of bonds came due, followed by EUR 5,4 billion in the second half of 2004.
Ker domnevna zaveza ni bila naslovljena na določenega upravičenca, prav tako ni nič čudnega, da ni bila sprejeta.“
However, the company is now faced with an unbalanced financial structure and a need for capital and refinancing in the medium term.
Poleg tega so vsi ti elementi privedli do jasnega izboljšanja operativnih perspektiv in poslovanja družbe FT v drugem polletju 2002 […].“
Commission Decision (EU) 2018/1617
Sklep Komisije (EU) 2018/1617
concerning a measure adopted by France pursuant to Council Directive 93/42/EEC with regard to the Terrafor and Defiligne medical devices
o ukrepu Francije na podlagi Direktive Sveta 93/42/EGS v zvezi z medicinskima pripomočkoma Terrafor in Defiligne
(notified under document C(2018) 6943)
(notificirano pod dokumentarno številko C(2018) 6943)
Having regard to Council Directive 93/42/EEC of 14 June 1993 concerning medical devices, and in particular Article 8(2) thereof,
ob upoštevanju Direktive Sveta 93/42/EGS z dne 14. junija 1993 o medicinskih pripomočkih in zlasti člena 8(2) Direktive,
On 16 August 2016, the French authorities adopted a decision based on the national provisions transposing Directive 93/42/EEC (hereinafter ‘Directive 93/42/EEC’ or ‘the Directive’) with regard to two medical devices with the same composition, the same route of administration and the same purposes, marketed under the names ‘Terrafor’ or ‘Defiligne’ (hereinafter ‘the device’), and manufactured by the Claytone-Terrafor Laboratory (hereinafter ‘the manufacturer’).
Francoski organi so 16. avgusta 2016 na podlagi nacionalnih predpisov, s katerimi se prenaša Direktiva 93/42/EGS (v nadaljnjem besedilu: „Direktiva 93/42/EGS“ ali „Direktiva“), sprejeli odločitev, ki se nanaša na dva medicinska pripomočka z enako sestavo, enako potjo uporabe in v enak namen, ki se tržita pod imenom „Terrafor“ ali „Defiligne“ (v nadaljnjem besedilu: pripomoček), proizvaja pa ju družba Laboratoire Claytone-Terrafor (v nadaljnjem besedilu: proizvajalec).
The device in question takes the form of capsules administered orally, which, according to the instructions for use, ‘prevent digestive problems, reduce digestive discomfort, restore digestive comfort and reduce abdominal circumference’.
Zadevni pripomoček je v obliki želatinskih kapsul za peroralno uporabo ter je v skladu z navodilom za uporabo namenjen preprečevanju prebavnih motenj, zmanjševanju prebavnih nevšečnosti, ponovni vzpostavitvi prebavnega udobja in zmanjševanju obsega trebuha.
The substance used in manufacturing the device is Octalite, a mineral complex of natural origin (clay).
Pri proizvodnji uporabljena snov je oktalit (octalite), rudninski kompleks naravnega izvora (glina).
According to the decision taken by the French authorities, in view of the essential requirements of the Directive and given the presence of lead in the device, it may pose a risk to the health of users.
Ta snov lahko v skladu z odločitvijo francoskih organov glede na bistvene zahteve Direktive in prisotnost svinca v pripomočku pomeni tveganje za zdravje uporabnikov.
As a consequence, the decision provides that ‘the manufacture, placing on the market, distribution, export and use of the Terrafor and Defiligne medical devices […] shall be suspended until the products have been brought into line with the legislative and regulatory provisions which apply to them’.
Zato je v odločitvi določeno, da se proizvodnja, dajanje v promet, distribucija, izvoz in uporaba medicinskih pripomočkov Terrafor in Defiligne prekine do uskladitve proizvodov z zakoni in predpisi, ki se zanju uporabljajo, poleg tega pa mora laboratorij Claytone-Terrafor umakniti medicinska pripomočka Terrafor in Defiligne pri vseh zadevnih distributerjih.
Moreover, ‘the Claytone-Terrafor laboratory is required to withdraw the Terrafor and Defiligne medical devices from all the distributors concerned’.
V okviru Direktive 93/42/EGS so francoski organi odločitev z dne 16. avgusta 2016 priglasili Komisiji z dopisom z dne 4. oktobra 2016.
By letter of 4 October 2016, the French authorities notified the Commission of their decision of 16 August 2016 in the context of Directive 93/42/EEC.
Službe Komisije so v okviru posvetovanj na podlagi člena 8(2) Direktive 93/42/EGS z elektronskim sporočilom z dne 26. oktobra 2016 pozvale proizvajalca k predložitvi stališča v zvezi z odločitvijo francoskih organov.
As part of the consultations referred to in Article 8(2) of Directive 93/42/EEC, the Commission sent the manufacturer an email on 26 October 2016 asking it to state its position on the decision taken by the French authorities.
Proizvajalec je z dopisom z dne 30. novembra 2016 službam Komisije poslal memorandum z obrazložitvijo, zakaj izpodbija odločitev francoskih organov.
By letter of 30 November 2016, the manufacturer sent the Commission a memorandum setting out its reasons for contesting the decision taken by the French authorities.
Na predlog proizvajalca je 19. decembra 2016 potekal sestanek med proizvajalcem in službami Komisije.
On 19 December 2016, at the manufacturer's request, a meeting was held between the manufacturer and the Commission.
Proizvajalec in službe Komisije so si leta 2017 izmenjali številna elektronska sporočila.
In the course of 2017, numerous e-mails were exchanged between the manufacturer and the Commission.
Službe Komisije so proizvajalca med drugim večkrat pozvale, naj stopi v stik s francoskimi organi glede določitve potrebnih elementov za preklic odločitve teh organov.
In particular, the Commission asked the manufacturer several times to contact the French authorities in order to identify the information which would be necessary to allow the decision of those authorities to be lifted.
Proizvajalec je z elektronskim sporočilom z dne 20. marca 2017 poslal Komisiji poročilo laboratorija NAMSA, ki po mnenju proizvajalca dokazuje neškodljivost pripomočka.
The Commission asked the manufacturer several times to send that document to the French authorities.
Varuh človekovih pravic je 5. aprila 2018 sklenil ustaviti postopek, ker pri obravnavanju zadeve s strani Komisije ni prišlo do nepravilnosti.
The manufacturer did so several months later, in August 2017.
20. novembra 2017 so belgijski organi obvestili Komisijo o odločitvi z dne 28. oktobra 2016 o prepovedi dajanja v promet, dajanja v uporabo, distribucije in uvoza medicinskega pripomočka Terrafor ter o odreditvi umika navedenega pripomočka s trga.
At the same time, the Commission exchanged e-mails with the French authorities in order to obtain further information.
Na predlog proizvajalca je 7. februarja 2018 potekal sestanek med proizvajalcem, francoskimi organi, belgijskimi organi, laboratorijem NAMSA in službami Komisije.
In July 2017, the manufacturer submitted a complaint to the European Ombudsman concerning the Commission's delay in adopting a decision.
Službe Komisije so marca 2018 proizvajalcu, njegovemu priglašenemu organu (TÜV Rheinland LGA Products GMBH) ter belgijskim in francoskim organom poslale dodatna pisna vprašanja, na katera so navedeni odgovorili marca in aprila 2018.
On 5 April 2018, the Ombudsman decided to close the case, concluding that there had been no maladministration on the Commission's part in its handling of the case.
PRESOJA UPRAVIČENOSTI UKREPA
By email of 20 November 2017, the Belgian authorities notified the Commission of their decision of 28 October 2016 to prohibit the placing on the market, putting into service, distribution and importation of the Terrafor medical device, and to order the withdrawal of the device from the market.
Z Direktivo 93/42/EGS je bil vzpostavljen sistem, po katerem morajo medicinski pripomočki izpolnjevati bistvene zahteve iz Priloge I k navedeni direktivi, ki se uporabljajo zanje (prvi odstavek člena 3).
On 7 February 2018, at the manufacturer's request, a meeting was held between the manufacturer, the French authorities, the Belgian authorities, the NAMSA laboratory and the Commission.
Proizvajalec mora za dokaz, da izpolnjuje te bistvene zahteve, ravnati po enem od postopkov ocenjevanja skladnosti iz Direktive, s čimer se omogoči pritrditev oznake CE na pripomočke (člen 11 in člen 17(1)).