The Commission cannot accept Germany's argument that the risk of loss was lower than that for a share-capital investment because BayernLB already had substantial own funds at its disposal before the special-purpose reserve was transferred and was therefore not at all dependent on that capital.
Kommissionen kan ikke acceptere Tysklands argument, at risikoen for tab var mindre end ved en investering i aktiekapital, fordi BayernLB, allerede inden den særlige formue blev overdraget, disponerede over en stor egenkapital og dermed slet ikke var afhængig af kapitalen.