commiss decis april state aid favour la seda de barcelona sa locat el prat de llobregat cataluña alcalá de henar comunidad de madrid spanish text authent text eea relev ec commiss european commun regard treati establish european commun subparagraph articl thereof regard agreement establish european econom area articl thereof accord abovement articl notic parti concern submit comment novemb commiss decid initi proceed pursuant articl ec treati respect agreement fondo de garantía salari hereinaft fogasa la seda de barcelona sa hereinaft lsb reimburs fix period pta respect payment fogasa wage sever pai ow lsb employe agreement guarante pta provid institut català de financ hereinaft icf support loan lsb accru interest thereon decis comunidad de madrid approv provis guarante pta support loan lsb accru interest thereon propos comunidad de madrid award rescu aid lsb pend revis restructur plan complet commiss investig take decis commiss note inform provid spanish govern unabl determin agreement fogasa lsb contain state aid similarli commiss unabl decid state aid contain guarante provid icf guarante provis approv comunidad de madrid lsb appear compani difficulti commiss conclud state guarante contain element state aid signific trade european econom area hereinaft eea lsb product commiss consid guarante distort competit restructur plan guarante intend facilit restor lsb viabil restructur aid satisfi condit laid author aid compli code aid synthet fibr industri commiss consid guarante appear incompat common market function eea agreement commiss unabl author propos comunidad de madrid provid rescu aid lsb satisfi condit author aid spanish govern provid suffici inform commiss determin aid provid form guarante conform condit laid author state guarante commiss consid propos rescu aid appear incompat common market function eea agreement letter date decemb commiss inform spanish govern decis initi proceed pursuant articl ec treati member state interest parti inform public letter offici journal european commun ii letter date februari spanish govern submit comment commiss decis initi proceed pursuant articl ec treati state comunidad de madrid fact provid guarante pta support loan lsb accru interest thereon letter date commiss ask spanish govern clarifi current situat ownership lsb request full detail agreement letter date juli spanish govern request addit time repli commiss grant letter date august letter date octob commiss remind spanish govern repli letter date octob spanish govern reiter recent histori lsb provid request inform letter date octob spanish govern provid copi document letter date novemb copi revis restructur plan implement lsb final letter date februari spanish govern inform commiss agreement reach recent ownership sharehold lsb sold akzo nv juli letter date septemb parallel correspond aris directli decis initi proceed pursuant articl ec treati commiss ask spanish govern comment press report catalan author decid inject capit lsb comunidad de madrid letter date decemb spanish govern note lsb ask sharehold approv increas pta share capit spanish govern awar intent catalan author invest lsb comunidad de madrid intent iii comment spanish govern reiter lsb spain largest produc synthet cellulos fibr yarn affect nation econom crisi exacerb impact intensifi intern competit synthet fibr industri high interest rate pressur price fall demand lsb product reduc profit juli prompt lsb major sharehold akzo nv sell sharehold share capit amount pta token price pta subsequ legal action valid sale contract led confus ownership lsb board director control akzo pend outcom legal action trade lsb share suspend late recognit financi difficulti improv competit lsb decid restructur busi oper draw restructur plan total lsb asset excess pta uncertainti ownership major share compani fact sale akzo major sharehold effect left lsb board director meant compani manag properli lsb total paralys unabl negoti normal sourc financ fell debt supplier lsb decid seek state guarante order obtain credit normal commerci term implement restructur plan lsb began implement plan measur revis inter alia account commiss observ set letter date august decemb letter inform spanish govern decis initi proceed pursuant articl ec treati restructur involv signific downsiz lsb workforc mix compulsori redund natur wastag gt tabl gt part cost downsiz cover agreement fogasa lsb reimburs interest sum paid behalf fogasa respect valid claim employe wage sever pai balanc cost downsiz financ part credit obtain support loan guarante provid icf comunidad de madrid part compani resourc full implement revis restructur plan result lsb capac gt tabl gt recent lsb major sharehold appoint board director compani return normal term dai dai manag busi oper decis make final judgment disput ownership sharehold belong akzo parti reach agreement retain origin purchas held privat compani inversion ibersuiza sl balanc account reduct lsb share capit agreement fogasa lsb reimburs fix period pta respect payment fogasa wage sever pai ow lsb employe spanish govern state fogasa independ organ attach ministri employ social secur financ levi employ fogasa main role pai employe compani bankrupt difficulti wage sever pai ow compani fogasa grant loan compani concern settl valid claim employe draw agreement compani reimburs interest total sum paid behalf fogasa outset continu process restructur lsb laid employe ow wage sever pai accord royal decre date march organ oper fogasa revis order date august fogasa examin individu claim employe lsb settl consid valid subsequ fogasa lsb drew agreement date june lsb reimburs fogasa pta quarterli instal year amount sum monei paid lsb employe fogasa total pta pta respect wage pta respect sever pai pta interest payabl sum period call legal interest rate juli spanish govern state lsb reimburs pta addit lsb requir pai fogasa initi sum respect administr cost draw agreement forc juli secur provid lsb form preferenti mortgag land build el retamar properti alcalá de henar comunidad de madrid technic verif data provid lsb fogasa accept properti concern pta reason spanish govern believ agreement constitut state aid agreement guarante pta provid icf support loan lsb accru interest thereon spanish govern state januari govern board icf own generalitat de catalunya author provis loan guarante lsb subsequ contact date februari icf provid guarante support loan lsb total pta interest thereon maximum pta accord guarante icf assum lsb debt lsb default loan detail loan caja de ahorro de cataluña award lsb loan pta repay quarterli year end march year grace period interest charg year variabl refer madrid interbank offer rate hereinaft mibor initi commiss charg caja de ahorro pension de barcelona caja gener de ahorro popular award lsb loan pta repay quarterli year end march year grace period interest charg year mibor initi commiss charg banca catalana sa award lsb loan pta repay quarterli year end march grace period interest charg mibor initi commiss charg lsb repai princip interest accord repay schedul loan contract respect provis guarante lsb paid icf initi administr charg sum guarante pta lsb pai annual premium guarante amount outstand januari juli respect administr cost recognit risk attach provis guarante decemb lsb paid icf pta annual premium secur guarante lsb gave icf preferenti mortgag properti el prat de llobregat catalonia time provis guarante icf estim combin properti pta valuat prepar lsb estim pta term mortgag give icf absolut prefer creditor lsb declar bankrupt icf mortgage abstain agreement creditor resolv situat bankruptci prejudic right creditor provid paragraph articl spanish commerci code gener spanish civil code mortgage prefer creditor amount debt question rel rank mortgage spanish govern argu lsb sought similar guarante privat financi institut icf obtain condit similar impos icf act accord prevail market condit reason spanish govern believ agreement constitut state aid decis comunidad de madrid approv provis guarante support loan lsb accru interest thereon total pta spanish govern state april comunidad de madrid decid author provis loan guarante lsb concern lsb unabl rais fund requir implement full restructur plan consequ compani futur viabil futur employ site alcalà de henar valid decis approv guarante expir put effect juli comunidad de madrid decis author provis guarante support loan lsb subsequ agreement date septemb comunidad de madrid provid guarante support loan total pta lsb bankint sa interest payment loan repay quarterli year end septemb includ year grace interest charg period mibor accord state guarante comunidad de madrid assum lsb debt compani default loan lsb pai comunidad de madrid initi administr charg pai annual premium sum guarante cover administr cost recognit risk attach provis guarante secur guarante lsb gave comunidad de madrid mortgag properti belong lsb alcalá de henar valuabl properti lsb preferenti mortgag fogasa agreement lsb valuat prepar lsb time provis loan guarante combin properti pta comunidad de madrid valuat base valuat prepar lsb estim combin pta spanish govern note agreement comunidad de madrid requir altern addit secur deem reason spanish govern believ agreement constitut state aid propos comunidad de madrid award rescu aid lsb pend revis restructur plan complet commiss investig note agreement date septemb comunidad de madrid provid guarante support loan lsb notwithstand commiss process assess compat inter alia decis author guarante fact commiss receiv copi revis restructur plan plan award rescu aid abandon iv letter date april commiss ask akzo nobel nv akzo nv comment involv lsb akzo repli letter date akzo state prior transfer sharehold juli act major sharehold lsb lsb financi assist facilit restructur part assist provid akzo form guarante allow lsb rais addit fund privat own bank order avoid liquid problem bank claim guarante shortli transfer akzo sharehold claim subsequ paid akzo waiv right capit amount total pta akzo guarante lsb debt assist lsb take fund compani outstand unguarante bank debt subrog gave akzo claim lsb amount pta basi loan subordin interest bear debt akzo made amount lsb septemb waiv interest period akzo opinion assist gave lsb reason financi structur enabl compani carri restructur time akzo expect septemb agre market interest rate normal repay schedul septemb akzo inform financi posit lsb deterior limit progress made restructur order avoid liquid crisi akzo extend period interest free subordin loan septemb compani request consult generalitat de catalunya akzo decid decemb forgiv repay subordin loan enabl lsb improv debt equiti ratio concentr profit part busi akzo state decis waiv interest subordin loan forgiv repay princip financi compens offset benefit spanish author promis forgiven debt record extraordinari incom lsb account contribut lsb profit year pursuant articl procedur comment receiv british polyolefin textil associ hereinaft bpta intern rayon amp synthet fibr committe hereinaft cirf hoechst trevira gmbh amp kg bpta emphas continu support code aid synthet fibr industri firmli oppos aid support produc fibr yarn come scope code princip ground aid support product fibr specif compani effect produc irrespect produc fibr aid beneficiari bpta question lsb requir support state guarante cirf lsb member hoechst trevira express strong support enforc code prohibit aid conform hoechst trevira state view averag rate capac util product polyest industri filament yarn europ improv improv temper effect instal capac franc alli signal fiber europ sa hoechst trevira provid project futur level capac letter date novemb commiss comment spanish govern letter date februari reiter circumst state guarante provid state view state aid contain guarante agreement agreement fogasa lsb spanish govern note full implement restructur plan result net reduct lsb product capac provid copi relev page revis restructur plan vi commiss determin term agreement fogasa lsb constitut state aid mean articl ec treati articl eea agreement similarli guarante provid icf comunidad de madrid regard state aid agreement fogasa lsb reimburs fix period pta respect payment fogasa wage sever pai ow lsb employe commiss object intervent fogasa settl valid claim employe lsb due wage sever pai respect agreement element state aid action protect employe right consist articl ec treati oblig compani employ legisl collect agreement trade union provid redund benefit earli retir pension part normal cost busi compani meet resourc contribut state cost count aid payment made directli firm administ employe govern agenc accord royal decre revis rate interest payabl lsb agreement fogasa legal interest rate agreement forc determin rate consist prevail market condit commiss make comparison relev time refer rate fix member state concern rate fix spain accord council resolut date octob commiss make comparison averag rate interest market concern case averag rate interest charg privat bank spain loan longer year rate commiss made comparison previou occas make assess state aid contain agreement fogasa privat compani statist publish banco de españa averag rate interest charg privat bank loan longer year consider rate interest payabl agreement fogasa lsb addit agreement provid addit interest charg respect late payment term agreement inconsist market condit time agreement drawn parti lsb reimburs pta accord schedul laid agreement reimburs pta lsb time pta arrear breach oblig agreement appear fogasa decis execut mortgag notwithstand action provid royal decre revis inconsist behaviour creditor oper normal market condit agreement constitut aid mean articl ec treati articl eea agreement illeg commiss inform pursuant articl ec treati plan provid aid put effect commiss unabl determin precis amount illeg state aid contain agreement affirm equival financi advantag aris fact interest rate payabl lsb agreement agreement guarante provid icf support loan lsb interest thereon total pta icf financ generalitat de catalunya guarante state guarante agreement lsb pai annual premium icf respect provis guarante interest rate payabl lsb loan obtain benefit guarante net annual premium paid icf consid compar rate compani financi difficulti charg commerci guarantor free market contract guarante mobil icf recov sum paid guarante execut mortgag properti judg icf excess total amount guarante final guarante cover lsb debt limit durat commiss accept commerci guarantor oper normal market condit provid guarante term compar state guarante spanish govern suggest commerci guarantor fact provid guarante contrari spanish govern state number occas lsb oblig seek state guarante order obtain commerci credit uncertainti ownership share belong akzo nv ensu paralysi dai dai manag loss confid compani abil meet financi oblig creditor commiss conclud state guarante lsb obtain loan privat sector compar term commerci guarantor provid guarante compar term state guarante state guarante constitut undertak icf meet lsb oblig unabl provis guarante affect commerci creditor percept risk lend lsb state guarante enabl lsb obtain fund restructur busi oper agreement state aid mean articl ec treati articl eea agreement state aid contain agreement fogasa lsb illeg commiss inform pursuant articl ec treati propos provid guarante put effect commiss unabl quantifi precis amount illeg state aid contain agreement decis comunidad de madrid approv provis guarante support loan lsb interest thereon total pta spanish govern state lsb oblig seek state guarante comunidad de madrid continu uncertainti ownership share belong akzo nv similar reason assess agreement icf provid guarante support loan lsb commiss bound conclud lsb obtain addit credit similar term bankint sa sourc commerci financ state guarante provid comunidad de madrid privat guarantor provid guarante compar term state guarante state guarante constitut undertak comunidad de madrid meet lsb oblig unabl provis guarante affect creditor percept risk lend lsb enabl lsb obtain addit fund restructur busi oper term irrespect term consid commerci agreement comunidad de madrid provid state guarante state aid mean articl ec treati articl eea agreement aid illeg commiss inform pursuant articl ec treati propos provid guarante put effect commiss unabl quantifi precis amount illeg state aid involv propos comunidad de madrid award rescu aid lsb pend revis restructur plan complet commiss investig spanish govern abandon propos award rescu aid lsb question compat longer relev vii establish illeg state aid contain agreement fogasa lsb agreement icf comunidad de madrid provid guarante support loan lsb interest payment commiss decid aid compat common market function eea agreement articl ec treati lai principl allow state aid distort threaten distort competit favour undertak product good affect trade member state incompat common market similarli articl eea agreement state allow aid incompat function eea agreement trade member state eea product produc lsb approxim tonn polyamid industri filament yarn approxim tonn polyest industri filament yarn aid favour lsb strengthen posit compet produc affect trade member state distort competit commiss determin provis ec treati eea agreement state aid consid compat common market eea agreement applic state aid question contain agreement intend facilit restructur lsb order restor long term viabil implement restructur plan full implement plan entail social cost invest cost aid assess commun guidelin state aid rescu restructur firm difficulti state aid link implement sound restructur plan intend restor compani long term viabil includ measur offset advers effect competitor amount intens aid limit strict minimum need enabl restructur undertaken relat benefit anticip commun point view condit restructur gradual downsiz lsb workforc safeguard job remain employe compani ration busi oper withdraw longer viabl restructur basi realist assumpt compani futur oper condit develop market product concern made competit oper plan describ current project state relev market posit lsb outlin strategi includ specif invest made order restor lsb viabil reason time scale revis plan appear capabl put lsb posit compet market place merit inject state aid conclus support inform provid spanish govern compani current financi posit show increas sale improv profit figur discount boost lsb result result akzo decis forgiv repay subordin loan total pta condit met author restructur aid satisfi condit restructur plan includ measur offset advers effect competitor commiss determin effect plan lsb capac case commiss compar capac lsb restructur capac time agreement support implement plan effect june date agreement fogasa lsb data lsb capac annex spanish govern letter date octob lsb capac prior commenc restructur plan note revis restructur plan refer instal capac state compani level capac plan explicitli state lsb complet signific reduct capac produc polyest textil filament yarn begin process market analysi led draw restructur plan capac concern includ data lsb instal capac set plan spanish govern time comment data previous provid lsb capac incorrect incomplet data reproduc commiss notic initi proceed pursuant articl ec treati lsb interest parti comment commiss conclud lsb product capac prior commenc restructur plan state annex spanish govern letter date octob note instal capac compani revis restructur plan full implement revis restructur plan result chang lsb capac produc polyamid polym granul remain tonn bring reduct capac produc polyest polym granul tonn tonn capac produc viscos textil filament yarn tonn tonn reduct capac accept suffici minim advers effect restructur aid compani lsb competit undermin object restructur plan return lsb viabil lsb product scope code aid synthet fibr industri introduc aim prevent aid lead increas product capac industri introduct code revis number occas illeg state aid contain agreement question assess version code forc commiss open present proceed pursuant articl ec treati forc novemb date letter spanish author provid commiss final item inform complet assess compat aid version code state author invest aid case condit signific reduct product capac recipi total capac produc fibr yarn come scope code determin case reduct approxim signific mean code commiss examin specif detail case question includ locat compani concern implic industri note full implement plan intend ensur long term viabil lsb safeguard job remain employe lsb locat el prat de llobregat catalonia alcalá de henar comunidad de madrid spain access european commun area qualifi fund object commun structur fund convert region affect industri declin effect capac full implement revis restructur plan result reduct eea capac produc polyamid textil filament yarn reduct eea capac produc polyest textil filament yarn reduct eea capac produc polyest stapl fibr bring increas eea capac produc polyamid industri filament yarn increas approxim eea capac produc polyest industri filament yarn affect product capac industri eea net effect reduc eea capac produc relev product approxim tonn approxim tonn improv averag rate util capac product approxim advers effect competit plan increas lsb capac produc industri filament yarn offset plan reduct capac produc textil filament yarn stapl fibr reason net reduct lsb capac produc synthet fibr yarn come scope code result full implement restructur plan consid signific state aid contain agreement comunidad de madrid provid guarante support loan lsb compli relev version code full implement measur provid revis restructur plan offset potenti advers effect competitor undermin prospect restor lsb viabil condit author restructur aid satisfi condit aid limit strict minimum need facilit restructur amount state aid contain agreement fogasa lsb directli relat number lsb employe claim wage sever pai settl fogasa similarli state aid contain agreement state guarante provid icf comunidad de madrid support loan lsb direct financi lsb serv simpli facilit access credit commerci term compani consid financ restructur plan restructur aid contain agreement result lsb surplu cash aggress market distort activ undertak invest unrel restructur condit author restructur aid satisfi conclus long lsb implement full revis restructur plan long concomit closur capac irrevers state aid contain agreement satisfi commun guidelin state aid rescu restructur firm difficulti restructur aid restor aid beneficiari viabil accord plan expand capac consid essenti restor viabil provid restructur plan facilit aid commiss gener requir submiss detail annual report implement plan final commiss state author state guarante guarante contract lai specif condit mobil provid guarantor recov sum paid guarante agreement guarante provid icf comunidad de madrid lai condit commiss reason state guarantor execut mortgag provid secur guarante lsb default oblig creditor respect guarante loan state aid contain agreement meet criteria fulfil order appli except provid articl ec treati articl eea agreement author aid facilit develop econom area activ aid advers affect trade condit extent contrari common interest aid compat common market function eea agreement viii lsb fail reimburs full amount paid employe fogasa period agreement fogasa full amount interest payabl agreement fogasa decid execut mortgag provid lsb secur action recov amount ow compani commiss assess state aid favour lsb compat common market function eea agreement similar consider aris lsb default respect repay princip interest loan support guarante provid icf comunidad de madrid guarantor assum respons lsb debt execut mortgag provid lsb secur provis guarante action recov full amount concern commiss emphas reason suppos lsb default respect repay princip interest loan support guarante provid icf comunidad de madrid compani default oblig reimburs full amount paid employe fogasa interest payment requir period laid agreement fogasa adopt decis articl subject complianc condit articl element state aid contain agreement list compat common market virtu articl ec treati compat function eea agreement virtu articl thereof agreement fondo de garantía salari la seda de barcelona sa compani reimburs fix period pta regard payment fondo de garantía salari wage sever pai ow compani employe agreement guarante provid institut català de financ support loan la seda de barcelona sa interest thereon total pta agreement guarante provid comunidad de madrid support loan la seda de barcelona sa interest thereon total pta decemb result full implement restructur plan submit commiss spanish govern letter date novemb capac la seda de barcelona sa produc form stapl fibr filament yarn base polyamid polyest polypropylen acryl exce tonn month end current financi year month end subsequ financi year commiss satisfi la seda de barcelona sa fulli implement revis restructur plan kingdom spain report annual commiss progress compani implement plan includ statement capac measur tonn produc product receipt aid compani date decis compani financi posit total amount reimburs compani respect agreement fondo de garantía salari total amount repaid compani respect loan interest thereon support guarante provid institut català de financ comunidad de madrid total amount paid compani institut català de financ comunidad de madrid annual premium provis bodi loan guarante articl kingdom spain inform commiss month date notif decis measur compli articl thereof articl decis address kingdom spain brussel april commiss karel van miert member commiss oj oj oj oj oj period valid version code extend oj oj