commiss decis juli state aid favour fabricant vasco de herramienta sa favah sa successor notifi document number spanish text authent text eea relev ec commiss european commun regard treati establish european commun subparagraph articl thereof parti concern opportun submit comment accord articl letter date novemb sg commiss inform spanish govern decis initi articl proceed aid favour group fabricant vasco de herramienta sa favah basqu manufactur hand tool favah headquart product plant locat basqu countri vitoria irún area elig region aid mean articl group creat view rationalis suppli hand tool produc basqu countri adapt demand expect posit result materialis group undertook restructur measur fail improv financi situat enterpris made loss esp million loss rose esp million strateg plan draft envisag posit result group plan includ measur optimis suppli compani group coordin compani administr structur reorganis rationalis product activ compani concentr sector market reduct workforc order financ restructur measur favah appli guarante basqu autonom govern decre cover bank loan total esp million implement restructur plan decre establish aid scheme restructur aid grant firm locat region aid form guarante cover amount proportion firm difficulti letter date april commiss inform spanish author decid rais object aid scheme commiss notifi guarante firm employe guarante favour favah grant decemb period year year grace period spanish govern fail notifi grant aid fact favah compani employe restructur plan expect result compani make loss esp million favah file voluntari bankruptci april commiss receiv complaint aid context bankruptci procedur complain favah asset transfer newli creat compani herramienta eurotool sa favah execut board director firm herramienta eurotool sa acquir american multin snap paid esp million basqu region govern guipúzcoa alava provinci council compani market hand tool brand name origin favah acesa irimo palmera commiss consid guarante basqu govern constitut aid mean articl treati articl eea agreement unlaw grant spanish govern compli oblig impos commiss authoris april notifi grant guarante firm employe accord articl treati time commiss unabl obtain inform spanish govern enabl determin condit approv scheme satisfi action relat aid guarante mobilis time firm bankruptci commiss basi inform determin exist aid involv bankruptci favah creation herramienta eurotool acquisit snap commiss felt carri depth analysi pursuant articl treati guarante favah aid element present subsequ event order determin aid consid compat common market basi derog contain articl treati articl eea agreement ii letter spanish govern publish offici journal european commun invit member state interest parti submit comment measur commiss receiv comment favah competitor german british italian french hand tool manufactur associ comment state aid receiv compani unfair competit advantag help sell product lower market price british competitor consid favah receiv aid region author enabl sell product cheapli consolid suppli market competitor acquir snap unfair competit advantag comparison european british hand tool manufactur german competitor mention offer acquir herramienta eurotool obtain answer italian associ assoutensili associazion nazional industri degli utensili mano strumenti di misura member lead italian manufactur type product favah face aggress competit favah due aid receiv associ mention invit bid purchas favah select purchas benefit favour distort competit french feder mechan engin argu creation herramienta eurotool artifici oper aim transfer favah asset eurotool compani tax social debt includ transfer eurotool compet aggress member state distort competit sell price lower rest market provid inform price competitor locat member state spain itali germani franc unit kingdom comparison palmera acesa price quantiti tonn type standard hand tool export import germani franc itali unit kingdom spain iii spanish author comment proceed letter date juli octob octob octob letter emphasis difficult financi situat favah face earli strateg plan draft object resolv situat plan copi submit commiss includ measur overhaul product line strategi improv market introduct total qualiti system continu search partner strengthen group strateg posit medium long term hand plan contain inform market situat specif industri sector firm oper forese develop suppli demand market basi scenario optimist pessimist averag assumpt favah manag financ restructur request guarante basqu govern decre cover loan total esp million financ implement strateg plan basqu govern studi plan conclud fulfil requir restor viabil enterpris long term establish solvenc reason period reason decid grant guarante decemb possibl aid grant consid unlaw spanish author admit fail fulfil oblig notifi measur state strateg plan requir measur implement immedi year pass aid request plan present spanish author acknowledg restor viabil fail market weaken foreseen plan econom develop neg effect favah group sale plummet loss increas subsequ april court declar group bankrupt spanish author point herramienta eurotool creat bankruptci proceed accord normal commerci practic compani favah group contribut asset liabil time eurotool expans compani capit increas make differ reflect account compani favah group charg asset maintain bankruptci hold eurotool includ bankruptci asset asset meet compani debt court declar bankruptci voluntari spanish law court conclud fraud occur favah bankruptci american compani snap express interest acquir eurotool share includ asset bankruptci asset snap made bid receiv compani purchas share combin price esp million snap offer financ financi reconstruct eurotool agreement exist compani trade union repres purpos pai amount ow respect reduct workforc amount case natur privileg preferenti debt independ execut spanish law addit financi contribut offer snap amount esp million bring total contribut esp million reduc increas liabil bankrupt compani imposs creditor includ basqu govern recov receiv approv snap bid submit court rule bankruptci involuntari formalis sale share accord applic legisl compani form part group dissolv exist definit document bid present buyer snap spanish govern maintain share sold accord bankruptci procedur intervent bankrupt compani time favah receiv told court compani addit snap shown interest firm express initi interest make definit offer talk place compani end definit propos compani want pai token price asset esp receiv chose snap offer advantag iv articl proceed clarifi favah situat circumst firm receiv public financi assist measur gave rise initi articl proceed conclus drawn inform provid spanish author show bankruptci place accord legisl forc sale compani asset solut enabl favah creditor recov greatest amount basqu govern includ debt asset bankruptci recov maximum bankruptci proceed scale debt nation court rule bankruptci proceed complet law basqu author receiv special treatment spanish author written assur eurotool receiv aid kind esp million guarante grant undoubtedli constitut aid mean articl treati articl eea agreement aid element deriv guarante gener equal differ interest rate loan rais normal market term actual interest rate secur virtu guarante commiss consist view undertak sever financi circumst credit institut prepar lend state guarante amount loan regard aid commiss decis ec olymp airwai guarante precondit bank financi involv favah provid loan financ restructur obviou aid element high risk guarante fulli match bank financi involv aid distort competit affect trade member state good hand tool industri trade spain member state inform provid eurostat spain export tonn hand tool product worth ecu million member state import tonn hand tool worth ecu million spanish export rose tonn worth ecu million import total tonn worth ecu million favah particip market parti observ demonstr spanish author admit aid improv favah posit common market comparison competitor receiv state aid kind guarante award unlawfulli spanish govern notifi grant fact region scheme guarante grant favah requir individu notif guarante compani employe guarante consid compat derog set articl treati possibl aid conform derog articl treati point appli case view characterist fact claim satisfi condit requir derog appli note favah situat area elig region aid articl treati favah headquart product plant locat declin area mean articl treati object aid assist firm econom difficulti continu activ market facilit econom develop declin area final guarante conform derog provid articl treati relat commun guidelin state aid rescu restructur firm difficulti favah obtain loan undoubtedli firm difficulti mean guidelin point unabl recov resourc object guarante grant basqu author financ restructur plan devis group point guidelin sine qua approv restructur aid exist suitabl restructur plan present commiss enabl restor viabil reason time scale basi realist assumpt futur oper condit restructur plan account circumst give rise firm difficulti market situat specif industri sector firm oper expect develop market suppli demand compris scenario base optimist pessimist averag assumpt specif strength weak firm favah restructur plan present commiss made refer market situat hand tool sector develop basi scenario case plan account steadi deterior hand tool market inform commiss deterior consist fall annual product commun hand tool industri compar increas annual product econom develop hand tool market forese restructur plan design middl market recess short period futur plan base assumpt prospect industri market develop fairli accur restructur plan basqu author examin possibl restor favah viabil circumst industri account commiss turn appli rule approv restructur aid opportun examin guarante grant approv propos guarante detail analysi firm surviv declin market steadili declin prospect case bear mind commiss approv restructur plan propos guarante commun guidelin rescu restructur firm difficulti commiss conclud esp million guarante grant favah compli derog articl treati guarante incompat commun rule state aid case aid deem incompat common market commiss requir member state reclaim aid recipi commiss commun novemb judgment court justic european commun case commiss germani case deufil commiss appli measur favour favah sa subject present decis aid recov fact fahav sa bankrupt disappear market make differ assess recoveri aid place accord spanish law includ rule interest due late payment amount ow state interest run date aid grant letter commiss member state sg march case belgium commiss accord case law court justic provis relev recoveri aid appli recoveri requir commun law render practic imposs procedur difficulti regard implement measur influenc law adopt decis articl esp million guarante grant basqu govern fabricant vasco de herramienta sa successor unlaw grant basqu govern breach spanish author oblig inform commiss suffici time enabl submit comment plan grant alter aid set articl treati accord articl treati aid incompat common market meet condit derog grant contain articl treati articl spain ensur aid refer articl abolish recov full month date notif decis aid recov accord procedur provis spanish law includ interest date aid grant date repaid rate appli refer rate calcul net grant equival region aid spain provis appli recoveri requir commun law render practic imposs procedur difficulti regard implement measur influenc law articl spanish govern inform commiss month notif decis measur compli articl decis address kingdom spain brussel juli commiss karel van miert member commiss oj oj product declar spain oj panorama eu industri chapter oj ecr ecr ecr cite note paragraph