commiss decis octob state aid implement spain restructur aid public spanish shipyard notifi document number spanish version authent text eea relev ec commiss european commun regard treati establish european commun subparagraph articl thereof regard agreement european econom area articl thereof regard council regul ec june aid shipyard restructur regard council regul ec june establish rule aid shipbuild call interest parti submit comment pursuant provis cite regard comment procedur base regul ec commiss decis august authoris restructur aid spanish public shipyard amount approxim eur billion decis council regul ec condit approv aid aid restructur purpos provid year state hold compani sociedad estat de participation industrial sepi provid izar construccion naval izar capit inject total sum eur million letter date novemb januari commiss request inform matter decis commiss initi procedur laid articl ec treati open transact sepi inject eur million izar spanish author inform decis letter commiss date spain letter date juli juli august januari februari april juli submit comment open procedur open procedur commiss receiv comment royal van lent shipyard letter date septemb parti request anonym letter date septemb izar letter date octob comment forward spain letter octob spain provid comment letter date novemb izar novemb brought action commiss court instanc request annul open procedur ii detail descript aid beneficiari sepi juli decid merg publicli own militari civil shipyard relat activ time oper compani group civil shipyard relat activ bought juli bazan merg bazan subsequ chang izar izar civil activ place astillero de cadiz cadiz astillero de puerto real puerto real astillero de sestao sestao astillero de sevilla sevilla juliana constructora gijonesa juliana fábrica de manis manis astillero de fene fene izar militari shipbuild site ferrol cartagena san fernando aid investig cover capit inject sepi eur million esp billion provid bazan juli eur million provid izar eur million provid izar open decis commiss note capit provid sepi izar confer econom benefit civil shipbuild receiv commerci sourc measur constitut aid natur aid distort competit base recent histori civil yard commiss suspect civil yard receiv financi support capit inject izar doubt support complianc rule state aid shipbuild object state aid procedur clarifi capit provid izar benefit civil shipyard civil activ iii comment interest parti comment open procedur commiss receiv comment parti parti request anonym made joint comment case state aid case underlin investig aid creat distort market recreat ship joint comment case case receiv royal van lent shipyard compani claim aid grant spanish govern past year extrem prejudici competitor market mega yacht commiss receiv comment izar izar claim concern capit inject fall articl ec treati problem distort trade treat context cooper procedur articl ec treati izar claim capit inject sepi state resourc case fall market investor principl izar final claim possibl recoveri aid provid public spanish shipyard unaccept exist aid iv comment spain comment open procedur spain provid commiss argument view state aid involv concern capit inject firstli spain claim sepi act privat investor market economi aim maxim profit commiss prove sepi resourc state imput state capit inject context plan compani bazan militari compani capit inject order cover number cost link plan develop eur million relat call externalis social cost link pre pension bazan employe amount paid insur compani year pai pension increas cost commit explain spain addit capit inject sepi izar addit approxim eur million paid social cost directli bazan pre retir employe rest capit inject spain need cover invest militari area compani izar amount eur million increas work capit militari construct spain state measur analys context articl ec treati capit provid bazan spain pure militari compani time inject capit spain argu possibl aid authoris incompat case commiss declar illeg aid provid public spanish shipyard reaction comment provid parti spain fulli agre state izar deni izar import activ luxuri yacht sector spain stage procedur provid inform request commiss estim loss civil activ izar juli decemb inform overhead cost izar period assess legal base articl ec treati aid grant member state state resourc form whatsoev distort threaten distort competit favour undertak product good affect trade member state incompat common market pursuant establish case law european court criterion trade affect met recipi firm carri econom activ involv trade member state articl ec treati categori aid decis council act qualifi major propos commiss consid compat common market commiss note council adopt basi regul ec shipbuild regul forc januari decemb regul ec expir decemb concern commiss notic determin applic rule assess unlaw state aid interest consist practic commiss broad margin appreci intend appli regul present case shipbuild econom activ involv trade member state aid shipbuild fall scope articl ec treati commiss note shipbuild regul quot shipbuild quot mean build propel seago commerci vessel commiss note izar build ship undertak cover regul commiss note articl regul state aid grant shipbuild ship repair ship convers compat common market compli provis regul provis appli aid grant undertak engag activ relat entiti august pursuant regul ec commiss exception approv packag restructur aid spanish public civil shipyard order return viabil end includ aid previous approv total packag esp billion eur billion give agreement council stress quot time time quot natur aid packag spanish govern undertaken commit yard receiv aid restructur rescu loss compens privatis reflect condit attach commiss decis approv aid underlin indent subparagraph articl shipbuild regul provis state rescu restructur aid grant undertak grant aid pursuant regul ec consequ aid excess aid authoris initi commiss decis august consid incompat common market approv legal base commiss note shipyard sestao puerto real sevilla cadiz juliana undertak cover regul ec commiss decis refer manis fene astano relat entiti own shipbuild compani izar period investig cover shipbuild regul pursuant articl assess aid role sepi decis open formal procedur commiss consid sepi act behalf state behaviour transact imput state spain contest claim sepi function independ state behaviour imput state spain view sepi act market investor fund provid sepi case consid state aid commiss note sepi public hold compani directli depend ministri financ consid public undertak sens commiss direct ec juli amend direct eec transpar financi relat member state public undertak due ownership financi particip public author directli indirectli exercis domin influenc sepi court defin fund consid state resourc state sum measur question perman held treasuri fact constantli remain public control compet nation author suffici categoris state resourc court judgment case franc ladbrok race commiss appli sepi resourc court decis court judgment stardust marin outlin criteria imput state aid measur public undertak court infer set indic aris circumst case context measur exampl indic provid court integr public compani structur public administr natur activ exercis market normal condit competit privat oper legal statu undertak sens subject public law ordinari compani law intens supervis exercis public author manag undertak indic show case involv public author adopt measur unlikelihood involv regard compass measur content condit sepi compani legal statu annual report access public spanish registri supervis compani exercis board director constitut larg extent state secretari person directli link govern natur activ includ privatis state own compani activ close link public polici sepi histori behaviour shipyard carri manner consid imput state provid part authoris restructur aid unlaw aid note sepi circumst state aid spanish coal industri deriv point sepi fund state resourc deriv point provis fund investig case shipbuild compani consid imput state provid term conform market economi principl gener principl appli financi transact state public compani call market economi investor principl sepi fund state resourc essenti sepi econom transact shipbuild subsidiari subsidiari compani econom activ hold compani compani act fulli line market economi investor principl market economi investor principl explain detail commiss commun member state applic articl eec treati articl commiss direct eec june transpar financi relat member state public undertak public undertak manufactur sector court case state wai establish measur state aid appli criterion extent undertak obtain sum question privat capit market condit continu quot similar circumst privat sharehold regard forseeabl obtain return leav social region polici sector consider subscrib capit question quot commiss exclud fund provid sepi free aid long sepi action compli market investor principl commiss capit inject scrutini assess sepi act market investor principl aid contain capit inject sepi bazan izar aid pure militari compani spain claim juli bazan receiv main capit inject pure militari compani merg civil shipyard compani recent acquir spain argu aid provid bazan enjoi derog provid articl ec treati commiss agre note capit provid bazan own concern civil shipyard relat activ bazan own civil activ form own subsidiari asset relev note civil subsidiari merg bazan month final fund beneficiari relev aid potenti distort competit civil shipyard common market fund social cost open procedur commiss doubt social cost link bazan past juli link exclus militari product due fact bazan past appear produc civil ship commiss doubt fund provid cover cost fall articl ec treati commiss note social cost link bazan past cover part total capit provid spain demonstr eur million provid extern insur compani cover cost pre pension militari shipyard amount cover part capit provid capit provid addit capit inject motiv unexpect increas cost pre pension spain argu eur million paid directli bazan pre retir bazan employe social cost link bazan militari past cover entir amount capit provid sepi commiss provid convinc inform work capit militari yard convinc argument invest militari shipbuild financ capit loan normal market behaviour spain demonstr full fund provid sepi izar militari purpos loss coverag civil activ spain provid commiss estim financi result civil activ izar year inform total loss civil activ izar eur million tabl tabl estim result izar civil activ eur million gijon sestao pto real sevilla cadiz fene manis total total result provid extraordinari gain affect puerto real sestao sevilla due fact compani posit book valu time bought bazan symbol price tabl conclud izar cover loss gener civil activ total sum eur million period juli decemb spain provid inform central cost izar alloc civil activ calcul result tabl total amount central cost period eur million civil activ share turnov izar period kei distribut central cost impli addit loss civil activ eur million concern period total civil activ izar made estim loss eur million period bazan acquir civil activ limit financi resourc capit eur million end appear made loss base izar annual report militari activ approxim eur million establish loss izar civil activ cover capit inject provid year market economi investor principl issu assess similar circumst privat sharehold regard forese obtain return leav social region polici sector consider provid capit question court state establish capit inject state aid appli criterion determin extent undertak obtain sum question privat capit market call privat investor test inform provid spain clear civil compani bought bazan juli econom difficulti tabl tabl book valu financi risk estim spain juli eur million compani book estim risk estim net compani sold aesa bazan izar puerto real sestao sevilla compani sold sepi bazan izar cadiz juliana manis fene total sum sign difficult financi situat civil activ loss make year improv exclud civil activ ownership bazan izar gener accept rate return due past perform lack restructur measur foreseen confirm inform provid spain state izar civil activ made oper loss year minor except reason establish izar obtain loan capit privat capit market cover loss civil activ provis capit activ compli privat investor test reason sepi expect return capit provis resourc sepi izar compli market economi investor principl capit inject civil activ constitut state aid izar state aid illeg notifi commiss conclud aid compat common market authoris restructur aid shipyard allow due reason invok authoris concern activ fene manis restructur plan present spain aid approv provis shipbuild regul base inform aid authoris base derog foreseen articl ec treati loan repaid izar behalf activ establish state aid decis case loan amount eur million septemb repaid sepi interest izar fund provid compani juliana cadiz manis subsequ bazan izar juli state decis case inform link loan repay present investig inform receiv spain report loss civil activ year tabl includ repay mention loan evid fund provid sepi benefit civil compani juliana cadiz manis repay loan made gener account izar effect compani dissolv busi unit benefit repai concern loan clear izar payment resourc allevi juliana cadiz manis financi burden repai loan commiss assess loan repaid izar financ fund receiv loan izar market condit aspect commiss consid capit inject year shown support civil activ izar izar financi situat wors reason exclud izar receiv loan market condit receiv illeg incompat aid form eur million capit inject repay eur million izar sepi consid capit inject investig benefit izar civil activ reason outlin loss coverag fund civil activ compli market economi investor principl amount capit inject izar constitut incompat state aid izar summari base assess commiss conclud izar civil activ benefit capit inject provid sepi izar year receiv loss coverag eur million outlin paragraph aid repay eur million outlin paragraph total aid amount eur million addit capit inject sepi izar cover unexpect increas cost pre pension militari shipyard constitut aid recoveri restructur aid grant approv doubt incompat state aid public spanish civil shipyard confirm commiss assess note open procedur restructur aid grant consid incompat recov issu commiss consid take consider comment made spain izar context procedur ground part restructur aid authoris incompat reason decis authoris aid commiss request recoveri aid authoris expir monitor report date octob aid approv exist aid monitor period expir articl spain claim capit inject fall articl scope state aid rule bazan militari compani time acquisit yard disput civil activ need financi aid order continu oper juli mere fact part shipbuild compani involv militari construct alter natur shipyard relat activ aid activ fall articl treati vi conclus commiss conclud spain unlawfulli implement aid sum million euro breach articl treati provid form capit inject million euro sepi izar year million euro benefit civil activ izar aid recov total current owner activ izar adopt decis articl state aid amount eur million euro unlawfulli grant spain breach articl treati favour izar incompat common market articl spain measur recov izar aid refer articl unlawfulli made beneficiari recoveri effect delai accord procedur nation law provid effect implement decis sum recov bear interest period run date put dispos beneficiari actual recoveri interest rate appli refer rate calcul grant equival region aid interest rate refer paragraph appli compound basi entir period refer paragraph articl spain inform commiss month notif decis measur plan compli provid inform questionnair attach annex decis articl decis address kingdom spain brussel octob commiss mario monti member commiss oj oj oj oj oj case oj confidenti inform oj sentenc quot present notic prejudic interpret council commiss regul field state aid quot oj ecr paragraph ecr paragraph oj oj oj oj ecr result tabl account loss incur sestao puerto real sevilla cover extraordinari gain refer paragraph case spain commiss ecr paragraph case dmt ecr paragraph opinion ag jacob case paragraph oj penultim paragraph page final annex inform implement commiss decis calcul amount recov provid detail amount unlaw state aid put dispos beneficiari date payment amount aid currenc ident beneficiari comment explain detail interest paid amount aid recov calcul measur plan recov aid describ detail measur measur plan effect effect recoveri aid explain altern measur nation law effect recoveri relev legal basi measur plan date recoveri aid complet recoveri effect provid detail amount aid recov beneficiari date amount aid repaid currenc ident beneficiari attach inform document repay aid amount tabl point date individu instal aid put dispos beneficiari measur consist instal reimburs separ row amount aid put dispos beneficiari gross aid equival date aid repaid