commiss decis octob state aid measur implement germani kvaerner warnow werft notifi document number german text 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 direct eec decemb aid shipbuild version direct eec call interest parti submit comment pursuant provis cite regard comment procedur german press report june kvaerner warnow werft gmbh hereinaft refer kww loan eur million parent compani kvaerner commiss request detail inform germani origin transfer fund order ensur fund origin excess payment restructur aid paid compani aid element letter date june meet held brussel june repres germani kww clarifi matter commiss request addit inform germani letter date june juli octob germani repli letter june septemb letter date februari commiss inform germani decid initi procedur laid articl ec treati respect aid commiss decis initi procedur publish offici journal european commun commiss invit interest parti submit comment aid germani repli letter date march kww comment fax date june commiss receiv comment interest parti forward germani opportun react comment receiv letter date juli august ii detail descript measur octob german treuhandanstalt tha sold predecessor kww east german shipyard neue warnow werft gmbh ww norwegian industri group kvaerner juli council amend direct eec direct eec seventh direct aid shipbuild introduc derog rule applic commun yard shipyard east germani order creat possibl yard undergo urgent comprehens restructur except enabl east german yard receiv high amount oper aid decemb adopt derog commiss gave undertak council monitor investig power ensur yard east germani receiv aid restructur letter date octob germani inform commiss privatis ww acquisit agreement letter germani suppli addit explanatori inform acquisit agreement restructur intend aid measur acquisit agreement order privatis yard ww incorpor kww transfer asset liabil restructur period end end point acquisit agreement tha support privatis addit measur particip negoti basi project balanc sheet octob part fund compani dispos aggreg equiti eur million dem million project balanc sheet reflect special accrual amount eur million dem million meant financ catch invest eur million dem million quot loss cover quot meant financ loss incur kww restructur period due shortfal product lack competit aid measur letter date novemb order facilit privatis restructur yard germani propos total aid measur eur million dem million commiss take account monitor provis direct eec fact oper aid approv decemb decid approv aid measur yard instal total aid amount approv lower amount request germani novemb decis instal commiss approv aid commun germani letter march sg eur million dem million oper aid eur million dem million cover part loss contract sign juli eur million dem million wettbewerbshilf eur million dem million inject fresh equiti capit eur million dem million oper aid form takeov liabil tha eur million dem million invest aid eur million dem million closur aid total decis authoris state aid eur million dem million approv instal commiss request germani letter date april juli octob provid inform expect incur loss shipbuild contract handl restructur inform plan invest letter octob commiss request germani justifi shipbuild contract envisag loss cover wettbewerbshilf loss shipbuild contract amount envisag total loss includ wettbewerbshilf repli date germani inform commiss eur million dem million loss cover compromis result negoti seller buyer germani point risk benefit addit loss save carri kww german author loss cover eur million dem million includ amount eur million dem million futur loss result pend contract cash carrier tha context privatis includ aid amount eur million dem million form takeov current liabil tha context privatis letter date novemb germani forward letter date octob kww explain loss cover eur million dem million relat shipbuild contract ship letter loss higher figur earlier present end commiss approv aid instal commun germani letter januari sg eur million dem million oper aid eur million dem million paid cash eur million dem million wettbewerbshilf eur million dem million cover part loss contract sign juli decis explain oper aid eur million dem million constitut maximum oper aid paid yard relat shipbuild contract sign decemb instal approv commiss decis commun germani letter februari sg eur million dem million invest aid eur million dem million cash commun germani letter octob sg eur million dem million invest aid commun germani letter decemb sg eur million dem million invest aid total amount aid approv decis eur million dem million oper aid earmark eur million dem million dem million dem million wettbewerbshilf eur million dem million cover part loss contract sign juli eur million dem million form exempt current liabil eur million dem million invest aid eur million dem million closur aid result total aid eur million dem million monitor necess aid commiss decis approv instal aid recal amend direct eec regard mention derog commiss gave undertak council commiss monitor investig power ensur east german yard receiv aid restructur commiss underlin light undertak approv grant aid necess shown condit laid mention council direct counterpart aid close adher decis commiss remind germani order obtain releas envisag total aid direct eec german author suppli inform show satisfact commiss necess aid show satisfact commiss invest carri detail invest plan submit commiss result capac limit requir provid report receiv commiss suffici demonstr risk spillov aid yard elimin spillov report report provid independ charter account end restructur period report oblig commiss end report kww spillov report period decemb submit commiss letter date juli explain loss shipbuild contract incur decemb amount eur million dem million calcul take account wettbewerbshilf receiv german author time draft report calcul final loss vessel deliv financi risk origin charter guarante pend june commiss receiv request june full annual report kww certifi auditor provision account june germani commiss letter kww auditor date april actual restructur aid end report show actual loss relev shipbuild contract deduct wettbewerbshilf amount eur million dem million decemb addit loss eur million dem million encount total actual loss decemb amount eur million dem million appear actual loss lower loss envisag eur million dem million includ wettbewerbshilf eur million dem million commiss request germani letter date june explain transfer eur million dem million kww mother compani repli letter date june germani recov differ kww germani explain amount loss cover grant approv lump sum differ kww open procedur decis open formal investig procedur commiss note kww receiv eur million dem million oper aid loss compens includ compens wettbewerbshilf eur million dem million actual loss amount eur million dem million kww receiv eur million dem million excess oper aid loss compens appear complianc provis commiss decis yard east germani receiv aid restructur commiss note decis grant aid state commiss investig monitor power ensur yard receiv aid restructur commiss decis approv aid yard receiv aid restructur commiss commit monitor complianc provis compens actual loss consid compat commiss decis grant aid commiss rais doubt oper aid amount eur million dem million compat common market iii comment interest parti commiss receiv comment date june june associ danish shipbuild foreningen av jernskib og maskinbyggeri danmark skibsvaerftsforeningen receiv comment confeder danish industri dansk industri date june june kww submit comment date june comment associ danish shipbuild associ danish shipbuild recal import commiss constantli monitor complianc exist rule yard need close reduc workforc denmark number job sector decreas half subcontractor supplier yard lost signific number job limit neg effect aid member state shipbuild industri equal import reason imposs set strict requir point time assess aid condit period preparatori document direct eec show detail analysi aid establish commiss present council yard aid subdivid liabil fresh capit loss compens council establish ceil aid amount total establish aid amount yard doubt amount liabil fresh capit loss compens amount discuss commiss fix framework establish amount commiss natur need make aid propos purpos commiss make subsequ monitor amount purpos council laid condit aid june juli particip germani germani refer agreement possibl content subsequ made buyer yard spillov report request avoid parti benefit aid aid question grant independ beneficiari cost spillov report unnecessari prevent transfer excess aid current owner enterpris benefit state aid eur million dem million aid grant loss compens fact purpos total logic consequ fact loss fact lower amount aid purpos commiss explain happen amount grant loan mother compani impli aid case partli benefit mother compani condit set council commiss prevent amount loss compens authoris transfer mother compani consid inject fresh capit mean greater amount accept council purpos fact aid contraven condit set commiss direct eec final associ danish shipbuild conclud inform kww receiv greater amount aid actual loss appar council commiss stage accept oper aid loss compens higher actual loss addit associ danish shipbuild take view commiss approv subsidi limit establish council minist beneficiari guarante sum condit approv provid condit fulfil rescind stage commiss view earlier interpret hand commiss member state legitim approv aid accept council minist laid treati beneficiari act good faith comment confeder danish industri confeder danish industri natur legal oblig commun make commiss verifi state aid approv approv begin danish shipbuild industri confront closur yard signific decreas job sector european shipbuild subcontractor react sensit market intervent state aid kww case differ actual loss promis loss compens purpos directli restructur amount differ effect oper aid aggrav difficult competit condit european yard confeder danish industri gener principl commun law aid recipi claim loss compens case loss remain maximum amount promis compens confeder authoris publish protocol similar paper direct eec agre confeder danish industri note aid beneficiari take view commiss approv restructur aid accept privatis agreement entireti principl restructur aid put subject condit subsequ confeder danish industri aid approv commiss accord mandat confer council treati alter stage commiss approv aid measur attitud agreement bind commiss good faith beneficiari deriv right accept aid measur commiss member state infring rule laid council enshrin treati comment kww note individu point rais kww comment major ident point rais germani comment point list briefli kww argu legal valid reason commiss question legal restructur aid year approv privatis agreement treuhandanstalt kvaerner loss compens agre lump sum document impos oblig kvaerner repai differ case contract relat loss turn lower estim commiss awar content document circumst commiss decid necess aid question decis approv aid condit claus repay differ estim real loss kww claim contest amount eur million dem million part total oper aid approv commiss decis exist aid compat subsequ reassess point rais kww part contest amount aid eur million dem million oper aid paid cash posit balanc sheet cover restructur cost consid aid asset yard sold result open uncondit bid procedur kww argu commiss decis approv aid legal basi assess case opinion kww fulli compli commiss decis approv aid commiss approv lump sum aid fulli awar privatis contract provid repay oblig decis mention specif amount earmark cover loss commiss decid necess aid releas tranch commiss decid necess aid lai decis approv aid condit justifi reassess aid fund restructur pursuant object restructur cost loss compens higher estim point kww argu concept privatis agreement make kvaerner liabl greater loss estim counterpart situat loss lower estim benefit kvaerner kvaerner point view compens restructur cost possibl repay essenti condit kvaerner yard case repay oblig kvaerner yard illustr paragraph privatis agreement state case individu payment prohibit eec law kvaerner rescind privatis agreement kww commiss awar agreement kvaerner germani loss compens intend paid lump sum commiss object approach open procedur made clear condit repay decis point kww argu decis commiss claus justifi reassess approv aid aid approv total condit indic decis fact loss compens real loss cover decis approv aid restrict decis justifi control sentenc decis effect state commiss gave commit council monitor investig power ensur yard receiv aid restructur kww sentenc introduct stress investig control power context approv aid order check necess aid releas tranch sentenc meant justifi commiss approv restructur aid tranch kww commiss decis approv aid understood aid releas accord provis privatis agreement repay oblig case real loss turn lower estim point kww argu commiss decis approv aid loss compens oper aid gener approv accord concept acquisit agreement kvaerner tha aid meant cover part cost restructur aid restructur yard accord object argument kww commiss real loss significantli lower estim kvaerner fact present correspond time draft report kvaerner germani oblig submit spillov report cover period end submit document commiss develop loss case commiss notic basi spillov report loss lower estim differ amount loss spillov report decemb eur million dem million auditor report april decemb eur million dem million result fact individu case risk estim fulli realis kww request eur million dem million wettbewerbshilf calcul loss compens lead smaller differ estim real loss iv comment germani germani explain eur million dem million subject present procedur exist aid form part oper aid approv commiss decis march januari understand commiss initi procedur notifi aid mean aid explicit provis decis commiss assess anew compat aid year declar compat common market principl legal secur legitim expect germani amount commiss dealt decis approv aid fact aid commiss approv full coverag restructur cost context examin extent restructur carri resourc yard prognosi loss result contract sign juli eur million dem million cover amount amount eur million dem million oper aid paid cash pai schedul zahlungsplan submit commiss resourc yard appear posit balanc sheet resourc consid aid asset yard sold result open uncondit bid procedur germani stress yard restructur aid laid privatis contract approv commiss kvaerner bidder carri restructur risk receiv aid case commiss doubt plausibl loss prognosi busi plan time approv aid lump sum insert provis approv state approv cover aid correspond actual loss word decis provis intent commiss time circumst lump sum agre meant final risk benefit link exceed undercut amount left kww incent restructur yard quickli effici germani refer letter commiss remind commiss compens actual loss proof loss submit compani provid privatis contract buyer yard bear risk addit cost counterpart buyer benefit experi minor chanc achiev save oper aid establish lump sum agre buyer privatis eastern german yard germani refer letter octob written continu monitor futur loss provis note envisag correspond contractu agreement buyer kww bear full risk loss higher provid contract sign commiss approv oper aid restrict condit fulli awar circumst aid immedi paid yard plan long establish high actual loss final point rais germani commiss reserv examin necess aid decis march januari aid approv cover actual loss final assess carri final amount actual loss commiss decis amount actual loss demonstr aid subsequ proven quot quot paid back commiss insert express provis decis order legal enforc germani refer approv commiss decis state quot commiss light undertak council approv grant aid necess shown quot commiss approv aid attach condit interpret mean commiss convinc necess aid approv germani decis interpret commiss monitor investig author assess amount aid commiss reserv control commiss decis approv aid state commiss gave commit council monitor investig power order ensur yard receiv aid restructur statement put decis order explain commiss approv aid decis releas tranch addit phrase commiss final decis time necess aid releas tranch germani explain contrari commiss claim open procedur letter germani ensur commiss verifi aid grant releas fact germani letter refer fact commiss verifi aid releas tranch letter refer made document proof aid verwendungsnachwei prepar yard time inform kww aid attach letter invit verifi aid concern inform germani refer commiss decis releas tranch aid stipul authoris amount highest oper aid paid yard yard receiv oper aid provid privatis contract addit aid approv scheme germani explain fact submit commiss inform approv aid spillov report result compet commiss verifi necess aid spillov report submit order demonstr spillov aid place yard undertak contrari commiss claim mean purpos report show actual amount loss inform aid contain report meant present transpar purpos spillov control aid transfer investor yard germani state fulfil report oblig time spillov report period decemb submit commiss letter juli basi inform contain report commiss latest juli awar actual loss significantli eur million dem million germani explain differ actual loss report report submit arthur andersen germani letter juli situat decemb due fact risk estim fulli realis situat prove due time factor risk envisag materialis actual loss turn estim decemb germani explain contrari commiss claim open procedur expect summer actual loss turn higher spillov report yard balanc sheet carefulli draft take consider rule maintain suffici capit loss estim greater loss expect reason commiss fulli awar differ origin loss estim actual loss juli start inform actual loss summer open procedur februari germani argu case commiss conclus differ estim actual loss state aid relev differ smaller claim commiss commiss claim amount aid receiv loss compens eur million dem million amount consist estim loss compens eur million dem million wettbewerbshilf eur million dem million wettbewerbshilf meant loss compens usual compens disadvantag suffer german yard due locat germani europ scheme approv commiss amount actual loss compar origin loss estim eur million dem million differ eur million dem million assess aid legal basi aid direct eec version amend direct eec derog abolit oper aid applic shipbuild favour shipyard gdr oper aid enabl yard undergo urgent comprehens restructur competit articl direct eec oper aid shipbuild ship convers activ yard situat gdr consid condit compat common market decemb condit includ annual report oblig germani addit commiss ensur aid refer articl affect trade condit extent contrari common interest base direct eec amend direct eec commiss adopt decis measur favour shipyard gdr measur grant oper aid consid compat common market pursuant articl ec treati commiss decis approv aid refer oblig commiss ensur yard länder receiv aid restructur aim direct eec provid derog gener prohibit oper aid applic shipbuild quot continu oper yard quot restructur aid grant basi except derog strictli limit purpos restructur yard commiss approv aid condit continu oper restructur state fourth paragraph decis commun germani letter march sg fourth paragraph decis commun germani letter januari sg addit decis releas tranch aid commun germani letter januari underlin oper aid constitut maximum oper aid paid yard relat contract sign decemb make evid concept decis made clear germani beneficiari aid approv maximum amount grant strictli success restructur process loss prognosi concept quot lump sum quot germani kww claim commiss decid final manner necess aid releas tranch decis lai condit justifi reassess aid addit fulli awar privatis contract provid repay oblig commiss approv lump sum aid commiss doubt plausibl loss prognosi submit time insert provis decis state approv cover aid correspond actual loss explain decis open procedur commiss note case aid grant restructur carri decis compat aid approv base estim estim element oper aid need case articl direct eec requir aid paid decemb decis consider urgenc stress quot clear commiss decis urgent need order inhibit possibl yard restructur quot commiss adopt decis oper aid basi inform submit advanc german govern condit necess fact insert expressli decis decis commiss doubt plausibl loss prognosi ensur loss high estim grant loss compens incompat aid recov commiss decis releas tranch aid recal adopt derog rule oper aid applic commun yard commiss gave undertak council commiss monitor investig power ensur yard länder receiv aid quot need order inhibit possibl yard restructur quot put question concept aid grant lump sum present germani restructur finalis correspond provis council direct commiss decis misinterpret state aid rule decis aid germani provid commiss copi acquisit agreement tha kvaerner warnow werft germani document fulli inform commiss provis aid grant lump sum germani explain agreement conclud tha kvaerner warnow werft bind parti commiss germani refer letter commiss submit addit inform privatis east german shipyard commiss main issu commun explain oper aid order cover loss contract underemploy germani recal acquisit agreement refund incur loss proof payment envisag order avoid uneconom manag enterpris tha object assign financi risk addit loss purchas expect loss shipyard includ warnow werft determin advanc germani explain countermov agre purchas benefit develop make save mechan encourag purchas carri transit shipyard condit market economi quick precis reason commiss repeat decis januari undertak germani set unequivoc decis commun germani letter march addit commiss decid repli decis attack legal act capabl definit take account germani knowledg state aid rule background inform case commiss understand misinterpret commiss authoris decis germani decis underlin commiss investig monitor power ensur yard receiv aid restructur aid amount receiv kww comment germani kww argu contest amount eur million dem million part total oper aid approv commiss decis commun germani march januari exist aid compat subsequ reassess comment amount commiss approv aid fact aid part restructur cost cover yard resourc appear item balanc sheet eur million dem million oper aid paid cash commiss note total aid includ cash cash aid cash aid consist transfer asset compani transfer fix current asset join proport transfer financi liabil form payment aid decis natur payment aid commiss approv decis total eur million dem million oper aid part aid paid cash part cash decis challeng germani beneficiari bind germani beneficiari commiss stage state decis total amount aid grant cash higher contest amount eur million dem million beneficiari contest decis month found assess wrong provid articl ec treati point privatis agreement read quot project balanc sheet reflect special accrual amount dem meant financ catch invest effect compani restructur period special accrual amount dem meant financ loss incur compani restructur period due shortfal product compani loss due present lack competit compani quot payment dem million cover loss condit acquir warnow werft account project balanc sheet project balanc sheet includ posit direct element transfer asset kww receiv cover loss shipbuild contract posit constitut state aid fact part aid paid cash made clear commiss decis commun germani januari releas tranch oper aid read quot dem oper aid dem paid cash dem wettbewerbshilf dem cover part loss contract sign quot part oper aid approv decis amount eur million dem million approv cash aid kww pretend attack decis part cash aid commiss provid posit decis qualifi transfer asset state aid weight kww applic decis admiss kww agre commiss classifi measur aid examin compat common market meant commiss impos condit accept germani undertak directli affect beneficiari oper situat applic annul decis consid admiss commiss carri depth analysi aid amount kww receiv approv aid base inform screen pre privatis balanc sheet takeov balanc sheet spillov report auditor arthur anderson privatis procedur privatis contract appear shipyard receiv oper aid equival waiver current liabil eur million dem million authoris commiss decis march waiver constitut payment state aid beneficiari dispos asset freed financi liabil receiv asset compani creat current case kww takeov balanc sheet includ asset transfer free financi liabil waiver repres oper aid loan waiv privatis liabil ww public own compani state previou sharehold beneficiari transfer advantag compani appear shipyard benefit oper aid commiss approv final spillov report shipbuild contract special ship call quot cash carrier quot transfer kww loss compens contract includ oper aid eur million dem million approv commiss januari kww charg carri contract kww receiv compens envisag loss result contract reason compens kww receiv aid eur million dem million mention recit amount includ loss cover eur million dem million spillov report kww receiv eur million dem million invest aid land mecklenburg vorpommern quot wettbewerbshilf quot kww germani comment commiss conclus differ actual estim loss state aid relev case differ smaller claim commiss eur million dem million wettbewerbshilf meant loss compens usual compens disadvantag suffer german yard due locat germani europ commiss note explain earlier privatis contract explanatori note privatis warnow werft contain detail aid budget restructur yard explain earlier document lai total amount aid loss compens restructur eur million dem million amount includ eur million dem million loss compens eur million dem million wettbewerbshilf eur million dem million loss result pend contract treuhandanstalt wettbewerbshilf kww receiv eur million dem million approv eur million dem million amount wettbewerbshilf approv order cover loss restructur reason commiss includ compens wettbewerbshilf paid eur million dem million total aid approv loss compens follow argument kww influenc assess commiss disput kww receiv aid classifi wettbewerbshilf earmark loss compens wettbewerbshilf constitut incom diminish loss oper aid compens loss lower argument kww complet disregard wettbewerbshilf support argument dismiss monitor investig power germani question monitor power commiss establish aid purpos grant commiss note state commiss decis approv aid loss compens commiss investig monitor power ensur yard länder receiv aid restructur commiss agre germani sentenc commiss decis refer monitor investig power commiss relat time estim assess aid tranch releas context specif circumst case word direct eec oper aid need paid end fact direct impos report oblig germani recal commiss commit council understood requir monitor aid limit strictli restructur monitor oblig note accord articl direct eec germani provid evid commiss form annual report independ charter account aid payment strictli limit activ yard situat gdr spillov report submit commiss end restructur period end monitor aid exclus kww inform report includ inform aid germani argu fact germani submit commiss inform approv aid spillov report constitut compet commiss verifi necess aid spillov report submit order demonstr spillov aid place yard undertak mean purpos report show actual amount loss inform aid includ report meant transpar present regard purpos spillov control aid transfer investor yard germani disregard fact approv decis set undertak grant oper aid cover loss exclud overcompens light provis discuss monitor power commiss unnecessari question commiss empow oblig draw consequ complianc crucial condit approv state aid decis case commiss insist recoveri aid incompat illeg grant commiss approv commiss agre germani point purpos spillov report demonstr aid restructur yard transfer spill undertak mother compani yard monitor aid approv decis includ monitor purpos earmark order ensur aid strictli restructur yard orderli aid purpos grant essenti part monitor illustr structur content spillov report explan aid receiv import part consid import includ inform report provid commiss inform monitor orderli aid complianc authoris decis commit council time commiss investig common argument made kww germani commiss awar time spillov report submit commiss actual loss significantli lower estim commiss start investig matter commiss note explain decis open procedur spillov report submit cover period decemb annex page report tabl aid receiv decemb tabl aid loss compens date eur million dem million aid receiv eur million dem million miss eur million date decemb loss contract sign decemb realis date commiss reason interfer commiss indic time spillov report differ actual estim loss fact significantli higher spillov report eur million dem million eur million germani kww inform commiss chang circumst receiv auditor report confirm final figur commiss awar real situat commiss awar juli request commiss receiv letter date june germani auditor statement april statement address germani submit commiss commiss awar real situat juli regard commiss wish stress germani present evid commiss inform alleg germani aid purpos kww argu fund restructur pursuant object commiss decis approv aid loss compens oper aid gener approv aid restructur yard accord object commiss note commiss decis commun germani march januari mention amount approv design loss compens decis expressli approv eur million dem million oper aid cover part loss contract sign juli decis expressli approv eur million dem million cover part loss contract sign juli amount determin compens loss whilst oper aid cover loss mention expressli intend purpos notif germani purpos grant amount defin loss compens commiss note privatis agreement explanatori document includ detail list categori aid amount earmark loss compens document restructur period eur million dem million classif aid categori maintain spillov report form basi commiss monitor aid purpos restructur approv commiss decis commun germani march januari approv oper aid specif earmark loss compens restructur commiss take account cash effect utilis accrual charter guarante eur dem equiti guarante eur dem eur dem consid spillov report expens correctli attribut shipbuild contract realis end cost guarante account loss restructur substanti lower aid approv cover commiss accept account cost caus charter equiti guarante natur link specif contract place definit ship deliv reason appli restructur cost incur compani decemb privatis contract compani minimum emploi precis number worker end undertak respect fewer worker emploi sever fine envisag closur aid aid cover loss authoris commiss cover restructur period finish decemb clear begin kww want lai surplu worker wait end cost cover closur oper aid time clear date privatis firstli chang logic reattribut restructur cost incur decemb contract execut date restructur place natur lead lower loss contract execut date thirdli provis privatis contract forc compani emploi number worker constitut exogen separ undertak link contract alleg kww aid restructur yard accord object commiss note actual loss restructur lower aid paid cover surplu fund purpos inform commiss possess categori aid aid restructur approv exhaust aid approv purpos full amount categori strictli limit commiss decis room left addit aid restructur purpos absenc explan kww germani actual remain eur million dem million inform possess commiss conclud aid eur million dem million purpos approv commiss result excess aid commiss decis approv aid yard receiv aid restructur commiss commit monitor complianc provis reason compens actual loss consid compat commiss decis approv aid commiss note aid grant accord decis approv aid fulfil condit aid grant includ purpos aid suppos consid compat commiss decis common market aid fail fulfil condit automat fall scope approv decis render incompat commiss conclud total aid approv commiss kww restructur eur million dem million oper aid commiss take note kww receiv eur million dem million waiver current liabil kww receiv eur million dem million wettbewerbshilf approv kww carri contract cash carrier appar receiv compens loss result contract explain account payment aid commiss note auditor report aid receiv kww decemb kww receiv eur million dem million directli loss compens eur million dem million compens receiv wettbewerbshilf result total eur million dem million compens loss restructur period commiss note document submit germani letter june includ statement auditor april loss cover approv aid amount eur million dem million decemb take account aforement addit loss guarante amount increas eur dem eur million dem million aforement point commiss note inform possess show kww receiv eur million dem million aid loss compens restructur actual loss restructur amount eur million dem million kww receiv eur million dem million excess oper aid loss compens commiss take account kvaerner receiv eur million dem million oper aid restructur earlier approv commiss consid deduct excess aid loss compens compens excess aid loss receiv oper aid appear line commiss commit authoris decis ensur beneficiari receiv aid restructur reason aid amount eur dem recov explan alleg dem million eur million loan grant kww kvaerner final commiss open procedur point kww explan cash movement dem million eur million report german press june origin commiss request inform recit kvaerner group introduc system cash pool incom cash compani consolid cash payment effect liabil made kww part cash pool contribut kww cash pool form repay loan kww parent kvaerner note cash pool show peak kww eur million june higher incorrect figur eur million leak press eur serv collater guarante liabil kww paid cash concentr immedi reduc amount cash concentr eur leav eur quot free quot cash total cash june stem posit cash flow gener payment made shipown deliveri earli substanti payment account larg shipbuild contract payment mid june amount eur temporari natur cash peak june correl payment shown fact end total cash concentr show eur favour kww compar payment account order time amount eur element show cash movement report german press result excess aid grant restructur period end vi durat procedur explain open decis commiss german press report june kvaerner warnow werft loan dem million parent compani kvaerner letter date june commiss request detail inform germani origin transfer fund order ensur fund residu restructur aid paid compani aid element germani final deliv inform letter date septemb inform preliminari procedur includ point open decis mean letter date februari commiss notifi germani decis initi procedur laid articl ec treati aforement aid court justic european commun held join case quot absenc provis regard fundament requir legal certainti effect prevent commiss indefinit delai exercis power quot present procedur relev council regul ec march lai detail rule applic articl ec treati includ provis durat investig pursuant articl quot commiss endeavour adopt decis period month open procedur time limit refer paragraph expir member state concern request commiss month decis basi inform quot commiss state germani applic provis addit germani letter june mother compani beneficiari support letter norwegian minist industri trade januari ask commiss delai decis court judgment case kww reason claim quot fundament requir legal certainti quot infring continu negoti commiss present pertin document vii conclus commiss emphasis decis authoris aid kvaerner warnow werft specif uniqu accompani framework condit aris german reunif decis specif legal basi articl direct eec authoris exception larg amount aid time council set short deadlin pai aid decemb aid amount envisag base rough estim authoris decis underlin commiss ensur yard länder receiv aid restructur specif provis post monitor compat aid amount unusu except oper spillov report ensur enterpris kww benefit aid provid specif report aid amount receiv kvaerner loss shipbuild contract compens state aid authoris authoris decis made clear aid restructur constitut compat aid specif monitor establish control develop loss shipbuild contract beneficiari claim legitim expect excess aid commiss commun word decis undertak council specif monitor carri aid loss compens consid lump sum kww awar larg aid amount base rough cost estim calcul short notic lump sum system line strict state aid control commiss find eur dem oper aid grant germani kww compli provis commiss decis commun germani letter march januari yard länder receiv aid restructur aid compli commiss decis accord direct eec consid compat common market pursuant articl ec treati commiss conclud eur dem aid incompat common market pursuant articl ec treati articl regul ec neg decis case unlaw aid commiss decid member state concern measur recov aid beneficiari aid recov includ interest date dispos beneficiari date recoveri adopt decis articl state aid grant germani benefit kvaerner warnow werft gmbh amount eur dem incompat common market articl germani measur recov beneficiari aid refer articl unlawfulli beneficiari recoveri effect delai accord procedur nation law provid effect execut decis sum recov bear interest period run date put dispos beneficiari actual recoveri interest rate appli refer rate calcul grant equival region aid applic date aid put dispos beneficiari interest rate refer paragraph appli compound basi entir period refer paragraph year elaps date aid put dispos beneficiari date recoveri interest rate recalcul yearli interv take basi refer rate forc time rate recalcul articl germani inform commiss month notif decis measur plan compli inform includ inform requir form attach annex articl decis address feder republ germani brussel octob commiss mario monti member commiss oj direct amend direct ec oj oj oj amount eur indic round figur dem repres exact amount footnot sentenc fourth paragraph decis read quot commiss light undertak council approv grant aid necess shown condit laid council direct counterpart aid close adher quot footnot case alitalia commiss ecr ii paragraph busi secret footnot falck spa acciaieri di bolzano spa commiss ecr paragraph refer case geigi commiss ecr paragraph oj regul amend act access commiss kvaerner warnow werft publish ecr annex inform implement commiss decis ec 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 identifi beneficiari attach inform document repay aid amount tabl point