commiss decis octob state aid grant freie und hansestadt hamburg region author feder republ germani ecsc steel undertak hamburg stahlwerk gmbh hamburg german text authent text eea relev ecsc commiss european commun regard treati establish european coal steel commun articl thereof regard commiss decis ecsc novemb establish commun rule aid steel industri notic member state parti concern submit comment accord articl decis regard comment receiv juli commiss decid initi proceed articl decis ecsc steel aid code respect financi measur freie und hansestadt hamburg hereinaft refer fhh favour steel undertak hamburg stahlwerk gmbh hereinaft refer hsw conclud basi inform provid german govern dm million loan public hamburgisch landesbank girozentral hereinaft refer hlb sharehold protei produktionsbeteiligungen gmbh amp kg hereinaft refer protei dm million credit line includ dm million swing hsw grant hlb repres state aid incompat steel aid code treati establish european coal steel commun hereinaft refer ecsc treati commiss inform german govern letter date juli decis initi proceed request comment addit inform relev repli german author date septemb contain addit inform financi measur question argument back posit german govern measur constitut aid full descript german govern posit explain commun relat case section iii decis letter commiss inform german author decis initi proceed publish offici journal european commun invit member state interest parti submit comment proceed commiss receiv comment govern member state state consid financi measur public repres state aid distort competit insid commun detriment competitor hsw urg commiss scrutin close transact hsw hlb fhh order establish compat regard steel aid code major european steel compani point financi measur public repres oper aid prohibit provis ecsc treati steel aid code doubt hsw viabl inject capit product compani report lower compar compani germani nation steel produc associ point dm million loan sharehold protei rais initi equiti hsw illeg notifi commiss advanc consid loan grant hlb hsw repres partli aid help maintain import competitor member compani associ oper period year comment commun german govern letter date januari request state posit letter date german govern request submit detail inform press public report hlb extend credit line hsw expiri end letter date januari german govern inform commiss credit line extend hsw sold announc detail inform transact letter date februari german author submit remark comment member state parti provid inform sale share hsw dutch venuda invest bv hereinaft refer ispat part ispat group base jakarta indonesia letter date march commiss request inform sale share financi measur hlb fhh connect sale german govern repli receiv april letter date commiss request inform copi document transmit letter date document consid confidenti intern meet repres govern fhh feder german govern commiss held brussel commun date june german author submit addit inform argument copi tender document preparatori sale hsw june meet repres govern fhh german feder govern commiss held hamburg discuss detail sale compani exchang argument assess case commun date juli august german author submit inform financ hsw aid approv commiss ii basi inform receiv relev fact hamburg stahlwerk gmbh found start steel activ period suffer loss year total loss dm million cover sharehold korf stahl ag ferrocontor beteiligungsgesellschaft mbh compani suffer loss dm million cover sharehold januari court jurisdict initi formal composit proceed vergleichsordnung administr find purchas compani continu oper decemb court initi insolv proceed failur attempt composit hlb start share hamburg stahlwerk gmbh held constant share fiduciari capac secur liquid invest loan grant guarante compar financi coverag fhh time initi insolv proceed hlb claim total dm million cover guarante fhh claim dm million cover fhh acquir recours insolv parti estat total claim hlb fhh hamburg stahlwerk gmbh consid repres provabl claim framework insolv proceed judgment court instanc held hlb sharehold hamburg stahlwerk gmbh public bank hlb act truste fhh conclus court led legal consequ provis liquid formal grant form loan treat risk capit loan consid repres capit relac loan kapitalersetzend darlehen hlb fhh receiv repay claim liquid hamburg stahlwerk gmbh framework insolv procedur yield surplu satisfact privileg privileg creditor administr composit proceed vergleichsverwalt subsequ receiv insolv proceed konkursverwalt success find purchas work composit proceed hlb fhh decid promot continu oper compani asset hamburg stahlwerk gmbh concern expect german govern chanc receiv partial repay dm million loan receiv manag compani design restructur scheme found protei produktionsbeteiligungen gmbh amp kg limit partnership gener partner privat limit compani busi asset hamburg stahlwerk gmbh newli found neue hamburg stahlwerk gmbh subsidiari protei earli compani renam hamburg stahlwerk gmbh hsw hamburg stahlwerk gmbh liquid german govern report expedi continu oper hamburg stahlwerk gmbh absorb compani lead diminut loss hlb due financ hamburg stahlwerk gmbh dm million dm million loss born state cut dm million dm million dm million initi equiti protei dm million rais dm million loan made hlb sharehold compani receiv hereinaft refer manag hsw hereinaft refer fhh grant amount dm million hlb order amount cover loan sharehold protei small portion total initi equiti protei rais directli sharehold inject dm initi equiti hsw dm million inject sole sharehold protei capit receiv hlb fhh contract hlb protei provid repay interest due event hsw make profit interest rate fix bundesbank discount rate subject minimum annum parti agre liabl debt aris loan tax cost aris particip protei hsw reimburs hlb protei relinquish pro rata share hsw profit ratio loan total share capit hsw contract provid protei continu oper hsw decid liquid hsw assent hlb decis manag member supervisori committe assent hlb contract provid protei allow sell share hsw hlb object agre protei oblig enter negoti purchas hlb request hlb reserv sit negoti sale hsw commun date septemb german govern explain due contractu arrang hlb fhh decis control manag hsw fhh expos financi risk fulli compar risk sharehold inject risk capit bear owner compani dm million redempt dm million interest paid dm million loan hlb june capit hsw increas dm million rais corpor fund restructur concept back state aid approv commiss dm million invest closur aid research develop oper loss state guarante cover dm million hsw final receiv dm million invest closur cost oper result remaind dm million grant feder govern refus grant share invest aid part invest support carri hsw part final carri feder govern refus pai share dm million aid cover oper loss connect loss hsw wind proceed expens hsw bear author guarante cover dm million hsw decid possibl financ outset hsw activ hlb grant dm million credit line compani credit line grant basi regularli renew yearli contract credit line dm million grant order fhh provis german legisl paragraph bürgerlich gesetzbuch civil code hereinaft refer bgb fhh oblig compens bank expens incur fulfil order bank receiv guarante paragraph bgb credit line secur transfer ownership secur current asset transfer claim hsw parti german govern inform commiss estim secur period gt tabl gt period hsw suffer loss year tabl show yearli net oper result million dm gt tabl gt credit line hlb hsw suffer loss dm million need extens revolv credit line expir end year addit credit line amount continu oper hlb act commerci bank requir appli sound busi practic refus grant extens credit line order fhh final grant extens dm million decemb subject condit impos credit commiss fhh compani submit proper restructur scheme hsw suffer loss dm million need extens enlarg credit line dm million expir end year need extens credit line continu oper manag hlb refus prolong credit line bank prepar continu previou commit amount dm million cover order fhh fhh order hlb prolong credit line grant extens dm million swing dm million begin entir credit line includ swing cover oblig fhh part compens relat disburs bank fhh accept full econom risk connect loan grant compani expert studi januari prepar request credit commiss fhh conclud event liquid hsw citi hamburg suffer loss dm million privat compani expert solut outgo citi treasuri lower aid continu restructur complet decid commenc negoti purchas part loan paid back februari protei transfer share hsw return liabl remain claim hlb total dm million aris dm million equiti loan protei pai purchas price dm purchas price rais loan hlb grant redeem loan transfer share hsw hlb share suffici satisfi bank claim august shortli commiss decis initi present procedur intern privat invest bank instruct fhh organ coordin sale hsw prepar tender invit nation intern steel produc compani submit bid takeov hsw tender document inform prospect bidder author fhh dispos share hsw fhh assist lby invest bank pursu sale hsw contract date decemb hsw ispat transfer share effect januari purchas price share dm million paid transfer amount immedi hlb surrend share ispat act hlb instruct bank claim surrend share hsw satisfi bank regard claim aris dm million loan dm loan cover purchas price share hsw credit line limit septemb hsw dm million credit line decemb hsw avail dm million credit line decemb hlb claim aris credit line dm million hsw fulli cover credit instruct fhh german author explain draw credit line reduc dai german govern inform commiss dm million swing hlb ispat conclud separ contract dai contract ispat cover transfer share hsw sign contract cover sale claim hlb hsw aris credit line ispat repres import part contractu arrang cover sale hsw draft close standard model treuhandanstalt public bodi charg privat state held compani east germani privat preambl contract explain fhh highli interest continu oper hsw safeguard job foreword contract explain equiti hsw neg inject liquid hamburgisch landesbank consid present circumst compani appear due insolv contract explain hlb loan capit replac loan eigenkapitalersetzend darlehen mean event insolv consid claim insolv treat direct inject risk capit sharehold situat compani need addit risk capit avoid insolv provis contract full claim hsw transfer hlb ispat purchas price fix line complex formula amount establish formula liquid escap amount ispat receiv decid continu oper hsw sell asset stock claim immedi amount calcul basi formula reduc cost lai worker member manag hsw cost closur subsidiari compani cost honour contract addit contract explain ispat expect releas fhh oblig relat exist environment damag site hsw hlb accept releas achiev cost repair environment damag deduct purchas price german author estim purchas price fix dm million dm million credit line hlb ispat rais purchas price immedi rais overdraft account kreditkonto hlb back bank guarante provid ispat termin decemb provis contract purchas continu oper hsw level averag product produc qualiti steel carri invest amount dm million maintain job major stake hsw end inject dm million equiti agre monitor complianc hlb oblig oblig limit end cover contractu penalti regard procedur initi commiss juli contract parti agre pursu legal remedi measur commiss request relat hlb loan provid secur cover loan fhh agre adjust contract ensur surviv hsw hlb note ispat hsw bear financi burden result commiss decis iii german govern opinion financi measur fhh hlb regard hsw constitut state aid dm million loan grant rais initi equiti hsw admit state econom risk short risk born sharehold inject risk capit opinion privat investor market economi time act insolv hamburg stahlwerk gmbh fhh hlb claim total dm million respons court held aris capit replac loan result receiv repay courser bankruptci proceed privileg privileg creditor satisfi administr composit proceed success find purchas prepar compani court initi insolv proceed fhh hlb decid promot takeov oper hsw concern order increas insolv estat level partial coverag outstand claim german author opinion privat investor situat provid financ continu oper addit german govern opinion dm million loan grant instruct fhh cover commiss decis author state guarante favour hsw dm million author guarante loan dm million compani decid possibl financ credit line german author point cover secur privat bank consid suffici compar credit line public bank hlb chosen offer condit privat bank ow stand fact credit line cover instruct fhh outset explain fact hsw premis offer secur mortgag hlb german author prudent bank keen exclud slightest risk connect oper fact hlb request addit secur credit order fhh opinion german govern privat bank grant similar credit line addit secur credit order fhh sole shift risk hlb fhh intern effect budget fhh hsw german govern opinion credit line constitut aid enlarg credit line dm million decemb grant instruct fhh full risk public treasuri german govern point hlb face altern grant enlarg maintain hsw oper write entir commit irrecover credit order fhh cover hlb commit manner guarante german govern effort fhh reliev subsidiari hlb risk connect legisl capit replac loan order german govern causal factor decis bank enlarg credit line decemb privat bank face option continu enlarg commit lose entir financ decis extens credit line decemb enlarg dm million dm million swing enlarg credit order fhh cover entir financ hsw german govern opinion behaviour citi hamburg justifi manageri social respons transfer compani privat risk hlb prepar continu commit level dm million offer secur current asset hsw german govern claim behaviour hlb decemb explain fact court decis question capit replac loan suggest entir loan grant hlb repres capit replac loan event insolv complet lost fhh face risk regard commit dm million decid provid financ partial recoveri loan continu compani organ transfer privat risk german author opinion commit hamburg treasuri compar high risk junk bond invest report monei market annum interest financ hsw decemb constitut state aid amount opinion german govern limit interest compani possibl cover financ junk bond addit german author put forward argument dm million enlarg decemb opinion bank behav fhh decid cover entir credit line decemb extens dm million dm million swing iv hamburg stahlwerk gmbh compani fall articl ecsc treati produc product list annex ecsc treati provis ecsc treati steel aid code applic state aid mean articl ecsc treati transfer state resourc public privat steel firm form acquisit sharehold provis capit similar financ financi transfer genuin provis risk capit usual invest practic market economi allow reason prospect futur return invest revenu hamburg stahlwerk gmbh de facto public steel compani outset state rais entir equiti inject risk capit hlb protei compani control protei sharehold hsw provid daili manag bound strict contractu oblig impos contract hlb act behalf fhh depriv basic right attach normal sharehold entir contractu situat creat provid control fhh hlb hsw articl ecsc treati prejudic system ownership undertak appli member state free run steel compani public control dm million loan grant fhh hlb protei rais initi equiti hsw conclud provis loan similar direct inject risk capit contract public bank hlb act instruct fhh lender provid state receiv repay interest hsw made profit basi provis dm million redempt dm million interest paid period year sale share accept lieu repay loan cover addit amount dm million fhh final loss equiti loan normal interest exclud dm million provis repay interest paid equiti loan reflect normal revenu investor receiv risk capit inject privat limit compani loan consid repres provis risk capit argument german govern privat investor likewis rais risk capit inject hsw continu oper hamburg stahlwerk gmbh convinc commiss focus behaviour privat investor establish public provis capit correspond normal market practic administr composit proceed year success find privat investor activ behaviour investor invit time compani show privat investor relationship hamburg stahlwerk gmbh inject risk capit financ absorb compani commiss consid aid connect restructur plan present german author compani assum readi privat investor protei risk privat capit held viabl aid final approv time consid exce amount restructur hsw fact prospect receiv substanti aid commiss notifi earli intent grant aid privat investor found activ hamburg stahlwerk gmbh underlin point privat investor prepar inject risk capit fact hlb provid financ hsw contrari hlb provid loan framework credit line condit regard compar risk capit outset hsw pai interest year made profit bank receiv secur cover loan valuabl long loan consid repres capit replac loan conclud dm million loan provid fhh hlb protei cover initi equiti hsw constitut state aid commiss author state guarante favour hsw cover dm million guarante cover dm million german law credit order kreditauftrag requir instruct parti bear liabil provis financi secur paragraph bgb credit order fhh cover dm million loan consid compar state guarante liabil aris order aris guarante aid relat dm million equiti loan cover commiss author credit line grant hlb larg cover credit order fhh structur precautionari financi arrang surround creation absorb compani hsw wind proceed respect hsw initi clear claim hlb total dm million fhh total dm million hsw cover background loan fhh hlb consid capit replac loan result refund insolv proceed satisfact creditor privileg privileg closur compani led cost clean site social cost social plan sale asset liquid lower concern circumst hlb prepar grant financ form loan hsw partial recoveri outstand debt final outstand dm million repaid decis hlb grant loan amount dm million risk order financ arrang led result appear reason econom point view fhh grant hlb dm million equiti loan cover dm million credit line financ oper hsw offer aid financ fhh remaind aid author cover feder treasuri approxim dm million guarante amount approxim dm million evid hlb fhh intend grant amount equal outstand claim continu oper absorb compani promot solut avoid addit cost closur hlb final receiv repay claim hsw fhh receiv claim main differ inher structur secur hlb fhh obtain cover credit line hlb formal creditor dm million credit line grant order fhh receiv secur transfer current asset relinquish hsw claim credit order hamburg hlb entail oblig fhh make good hlb financi disburs connect dm million credit line secur cover portion credit line final secur exceed loan grant hlb risk concern secur estim dm million dm million reason assum liquid secur exceed dm million fact purchas price ispat pai term contract estim dm million dm million support conclus hlb agre grant credit line strength secur preferenti statu creditor fhh benefit secur time revolv credit line grant regularli renew hsw financi difficulti extent inject addit risk capit sharehold avoid insolv compani suffici capit cover partial loss make oper hlb reason fear lose secur due german legisl capit replac loan contractu ploi set hsw obviou attempt circumv law initi calcul hlb fhh possibl repay outstand claim hsw turn correct hlb receiv repay outstand claim framework insolv proceed cover hsw valid secur replac claim claim base credit line grant risk amount secur hsw financi situat hsw deterior extent necessit addit inject risk capit hlb face difficulti arisen insolv hsw case law capit replac loan plai hlb agre grant credit line confid thing ploi set hsw time wide mean circumv legisl capit replac loan administr insolv face risk court case import fhh shown readi hsw oper safeguard job hlb assum fhh prepar assist hsw event financi situat deterior conclus underlin behaviour fhh decemb decemb hsw ran financi difficulti need addit liquid continu oper decemb suffer oper loss dm million dm million hsw need enlarg credit line dm million hlb fhh decid renew revolv credit line grant request extens hlb decid continu credit line dm million grant risk coverag credit order fhh refus particip extens provis liquid fhh decid renew order grant credit line dm million instruct hlb grant need dm million extens fhh increas coverag risk credit line basi consider background creation hsw behaviour hlb reason hlb agre cover dm million credit line amount aim repaid takeov solut financ decemb year initi insolv proceed cover hsw clear hlb succeed receiv repay cover claim hsw intend grant financ hsw critic period entir european steel market refus grant enlarg credit line risk argument german govern privat bank grant enlarg credit line need entir loan lost convinc commit hlb cover part credit line hsw compar loan normal privat bank financ oper compani commit base recov claim hlb hsw conclus explain hlb reli readi fhh hsw oper safeguard kei industri undertak hamburg support behaviour bank citi decemb argument german govern hsw benefit addit dm million credit order sustain german author explain compani need extens avoid cash crisi hlb secur found normal privat bank grant addit loan coverag addit dm million credit line intern shift risk hlb fhh save hlb financi difficulti extens crucial surviv hsw time benefit compani hsw suffer neg oper result dm million severest creation expert instruct credit commiss fhh prepar decis conclud decemb januari hsw close insolv privat compani limit loss fhh safeguard job hlb fhh decid extend revolv credit line grant need enlarg dm million hlb decid continu credit line grant risk grant financ fhh decid full econom risk relat hsw instruct hlb grant credit line dm million addit dm million swing begin german govern claim decis bank base fact recent publish court decis hlb loan consid capit replac argument convinc court decis refer publish legal journal octob hlb decid decemb extent credit line dm million addit manag hlb realiz contractu structur creat attempt avoid problem law capit replac loan hlb experienc insolv hsw experi insolv hsw shown financ hsw financi difficulti combin proxim sharehold kind indirect sharehold insolv lead treatment loan risk capit contractu arrang creation hsw provid indirect sharehold hlb actual sharehold hsw protei depriv basic right attach normal sharehold favour bank acquir decis influenc fate compani explain differ rel sharehold truste neglig light econom background german law capit replac loan contractu arrang design evad legisl capit replac loan legisl effici safeguard evas averag receiv insolv readili reveal attempt evas civil law court reason assum manag bank knew begin secur event insolv endang expect face prospect bankruptci state initi prepar maintain hsw oper expert studi decemb januari prepar credit commiss fhh strongli recommend termin fhh involv hsw expect longer tenabl situat bank longer expect fhh avert insolv case manag hlb logic decid termin commit leav financ fhh german govern claim behaviour state justifi manageri social respons transfer compani privat risk commiss consid factor light decis court justic european commun case quot case court decis point inter alia inject public capit disregard prospect profit long term inject regard aid aspect privat investor behaviour address decis court justic case loan grant fhh hlb basi credit line incompat normal privat investor behaviour circumst present case show prospect profit expect normal market investor short term long term financ fhh addit recal court justic decis join case held privat investor inject addit capit ail compani anticip view sale compani sale compani depriv investor slightest prospect futur profit long term fhh recommend expert studi decid decemb pursu privat hsw loan intend avoid cash crisi consequ insolv period privat prepar expect privat write import part debt hsw prospect lose entir claim hsw compani appli bankruptci suffici hlb continu commit bank claim hsw repaid result continu oper hsw fhh dm million claim hsw repaid solut initi credit line cover state remain financi contribut fhh mirror total amount outstand claim hsw outset hsw explain case consid repres lost subsidi author aid insolv hsw caus addit unexpect loss state share opinion bank aid contribut continu oper hsw econom reason claim hsw recov reason termin commit achiev repay debt basi rule behaviour fhh credit line hsw year end line normal behaviour investor compar situat reason expect receiv partial repay uncollect claim prompt hlb manag bound sound busi practic cover credit line amount similar claim hsw situat fhh hsw insolv hsw unusu exclud differ secur explain suffici limit suggest essenti behaviour fhh compar consid reason manag hlb focus respect share credit line note hlb fhh recov full amount commit hlb grant credit line order fhh extent bank fhh tool grant credit line loan grant hsw fhh hlb loan grant basi credit line consid grant fhh addit premium expect guarante consid commiss commiss conclud credit line dm million grant hlb order fhh period end constitut state aid enlarg credit line dm million decemb conclud extens led situat fhh risk amount exceed initi claim hsw econom background absorb solut appli explain behaviour sever loss hsw suffer year compani deterior financi situat european steel sector experienc difficult period half due gener slowdown economi imbal suppli demand structur overcapac accompani collaps price factor combin aggrav financi situat steel compani commun econom environ hlb refus increas part credit line grant risk extens enlarg credit line decemb fact fhh agre entir risk attach financ hsw refus hlb continu previou commit conclud background initi financ hsw consid hlb suffici justifi econom risk keep hsw oper compani close insolv heavi loss expect situat steel market improv significantli expert studi announc limit loss event privat situat manag hlb decid termin commit accept insolv fhh behav similarli termin commit pictur show privat investor situat prevail decemb prepar inject risk capit partner fhh situat previou justif grant credit line suffici justifi continu financ hsw conclud behaviour fhh deem compar behaviour normal investor market economi behaviour fhh decemb instruct hlb grant credit line dm million dm million swing hsw begin full risk state constitut state aid incompat ecsc treati steel aid code aid element loan visibl preferenti interest term actual capit provid loan regard compar direct inject risk capit actual loan capit legisl capit replac loan treat inject risk capit made sharehold ail privat limit compani state aid steel compani prohibit articl ecsc treati steel aid code adopt unanim assent council pursuant articl ecsc treati possibl treat categori aid compat common market aid research develop articl environment protect articl closur articl aid gener region invest aid scheme territori commun articl aid grant hsw fall categori rescu restructur aid deem compat common market provis steel aid code state aid grant unlawfulli principl recov recipi firm repay made accord procedur provis german law interest base interest rate refer rate assess region aid scheme run date aid grant calcul amount aid german govern claim hsw possibl financ oper junk bond monei market argument accept inject risk capit ail compani tradit industri sector compar privat financ risk invest innov market economi develop technolog creation conquest market privat tool risk financ compani chanc win highli profit market wide financi result steel compani cyclic natur averag prudent investor requir assur profit cash flow econom cycl grant unsecur risk capit prospect win share promis futur market regard calcul amount aid claim amount hsw financ decemb normal bank loan deduct total amount made fhh true compani cover part financ loan privat bank secur releas hlb fhh privat bank grant loan fallen legisl capit replac loan german govern explain entir amount loan grant credit line affect legisl behaviour state unknown portion credit line compar loan privat bank grant decemb condit sale hsw ispat includ de facto waiv claim aris loan grant framework credit line hand ispat pai purchas price takeov claim hsw takeov share ispat intric bound ispat group payment ispat claim releas hsw debt econom imput hsw commiss view econom approach order request repay aid exceed undu financi advantag hsw receiv decid accept purchas price ispat final pai basi contractu arrang hlb part recoveri aid summari commiss conclud loan grant hsw basi dm million extens credit line decemb loan grant basi credit line dm million dm million swing accord decemb repres state aid incompat ecsc treati steel aid code aid recov repay made accord procedur provis german law interest base interest rate refer rate assess region aid scheme start run pro rata tempori date aid grant interest paid basi credit line agreement account purchas price final paid ispat transfer claim hlb part recoveri aid adopt decis articl contribut equiti capit hamburg stahlwerk gmbh dm million form loan grant freie hansestadt hamburg act hamburgisch landesbank girozentral sharehold protei produktionsbeteiligungen gmbh amp kg compani constitut state aid aid approv commiss articl loan grant hamburg stahlwerk gmbh basi dm million enlarg credit line accord hamburgisch landesbank girozentral instruct freie und hansestadt hamburg decemb loan grant basi credit line dm million dm million swing accord hamburgisch landesbank girozentral instruct freie und hansestadt hamburg decemb repres state aid incompat ecsc treati steel aid code articl germani recov aid refer articl recipi compani repay made accord procedur provis german law interest base interest rate refer rate assess region aid scheme start run pro rata tempori date aid grant interest paid pursuant credit line agreement account purchas price paid venuda invest bv transfer claim hanseatisch landesbank treat part aid recov articl germani inform commiss month notifi decis measur compli therewith articl decis address feder republ germani brussel octob commiss karel van miert member commiss oj oj bundesgerichtshof judgment septemb ii zr der betrieb lower court hanseatisch oberlandesgericht hamburg judgment juli der betrieb landgericht hamburg judgment august decis bundesgerichtshof juli publish octob der betrieb cover case connect present case lender compar contractu relat debtor hlb hsw court justic case belgium commiss ecr itali commiss ecr eni lanerossi commiss decis ecsc oj paragraph ii commun commiss member state public undertak oj paragraph itali commiss ecr alfa romeo spain commiss ecr hytasa european journal busi law