commiss decis april state aid implement belgium beaulieu group ter lembeek intern notifi document number french dutch version authent text eea relev ec commiss european commun regard treati establish european commun subparagraph articl thereof regard agreement european econom area articl thereof call interest parti submit comment pursuant provis cite regard comment procedur decis octob notifi belgium octob sg commiss termin articl procedur respect aid grant belgium verlipack group decis revok decis septemb ref sg rais object part aid prompt fact decis septemb base incorrect inform provid procedur decis import decis examin aid commiss inform measur element state aid verlipack group beaulieu group case concern support walloon region commiss call belgian state juli provid inform enabl assess measur light rule applic remind commiss decid issu letter januari formal injunct belgium suppli inform enabl assess compat measur favour verlipack beaulieu group articl treati dai injunct notifi belgium submit repli letter juli letter regist receiv januari june commiss decid initi articl procedur regard aid belgium inform letter june request addit time repli belgium respond letter receiv commiss juli public letter offici journal european commun prompt reaction collectif de défens de travailleur licencié de verlipack jumet ghlin associ worker laid verlipack jumet ghlin plant letter decemb unit kingdom perman represent letter decemb belgium repli letter decemb letter receiv commiss januari ii background ii develop verlipack group declar bankrupt januari verlipack group belgium largest produc hollow contain glass white brown glass bottl jar agri foodstuff industri market share belgium commun emploi peopl plant ghlin jumet mol belgian public author acquir hold verlipack group remain share held privat oper beaulieu group hold acquir société national pour la restructur de secteur nationaux snrsn approv commiss aid accord special law januari walloon region acquir vote share ghlin jumet plant share mol plant transfer flemish region verlipack group receiv invest grant total bef region aid scheme law decemb approv commiss decis société régional investiss set law april grant bef million convert equiti loan prêt participatif subject commiss decis decemb rais object walloon author subsequ reveal intern reason loan releas decre adopt juli repeal initi decis grant aid verlipack procedur result adopt decis octob belgium reveal verlipack group experienc problem due qualiti manag product inadequ equip technolog invest need improv equip beaulieu group fulli assum burden manag bef million invest programm explain thing walloon region pai aid authoris number capit increas privat sharehold sa imcopack walloni owner ghlin jumet site nv imcopack vlaanderen owner mol site belong beaulieu group public hold gradual reduc walloon region sharehold sa verlipack jumet sa verlipack ghlin oper compani situat walloon territori end gradual disengag public author held capit verlipack group compani locat wallonia make loss time sa verlipack ghlin suffer oper loss sa verlipack jumet record loss verlipack group honour end repay deadlin bank loan bef million subject bank recoveri procedur septemb verlipack group german hey gla group sign technic cooper agreement scope agreement extend april cover manageri financi assist german group directli involv manag run verlipack group end oper share held walloon region sa verlipack ghlin sa verlipack jumet bought beaulieu group hey gla group set umbrella hold verlipack hold control subject major vote verlipack hold equiti capit bef million bef million contribut hey gla group rest compris equip oper site contribut beaulieu group valu bef million umbrella hold hold compani verlipack hold ii form capit bef million overse product site manag bodi industri group concentr level verlipack hold ii hey hold major singl manag group depart commerci technic account financi administr result announc hey gla group verlipack worsen significantli novemb year provision unaudit consolid posit reveal net loss year bef april walloon author estim loss decemb bef million hey gla verlipack busi plan forecast loss bef million bef million estim januari verlipack sought court approv arrang creditor jumet ghlin plant announc closur mol plant media report compani justifi measur quot part difficult situat contain glass market quot quot mount loss unfavour forecast overcapac glass product market central europ quot januari turnhout commerci court declar verlipack mol bankrupt januari mon commerci court declar bankrupt compani glassmak verlipack group ghlin jumet plant verlipack belgium verlipack engin verlimo imcourleas recognis longer liquid asset meet debt verlipack hold ii file bankruptci mon commerci court februari sowagep announc court intend pursu recoveri claim grant credit debtor consequ court found condit bankruptci part verlipack hold ii met object longer exist compani destin put liquid ii beaulieu group beaulieu group belgian hold compani activ carpet synthet fibr sector world largest carpet manufactur largest carpet manufactur europ produc nylon fibr result carpet manufactur involv upstream product nylon fibr group control hold compani ter lembeek intern beaulieu wielsbek beaulieu wielsbek nv activ ter lembeek intern chang record turnov bef bef loss bef bef beaulieu wielsbek emploi person sale export iii injunct address belgium context procedur result decis octob belgium situat verlipack month preced commiss decis septemb commiss note view deterior verlipack posit end fresh effort made partner bank beaulieu group hey relaunch agreement conclud june context addit convert bef million loan capit sowagep undertook find privat investor make cash inject bef million inform suppli belgium clear fairli quickli relaunch plan produc anticip result sowagep longer find privat investor decid june increas verlipack capit contribut hey bef million share bef million inject luxembourg compani worldwid investor investor found beaulieu exchang share autumn undertak worldwid investor termin transfer share beaulieu group turn transfer walloon region transfer lieu payment amount ow beaulieu walloon region verlipack share valu bef held acquir group decemb repay interest begin decemb commiss note transfer lieu payment debt start repaid decemb place week verlipack file bankruptci letter septemb belgium transfer lieu payment place decemb clear beaulieu group debt walloon region regard quot increas verlipack capit financ beaulieu repaid debt walloon region clear quot letter april belgium announc intent grant bef million verlipack form capit contribut long term loan quot implement project prior notif commiss authoris quot letter belgium decemb procedur result decis octob commiss reserv quot posit intervent walloon author verlipack favour quot repeat letter januari case belgium state februari case quot consid financ composit period view term recent commiss decis septemb quot indirectli commiss learn intervent walloon region link repay amount ow beaulieu group transfer share ghlin jumet plant commiss inform belgium letter juli enter measur regist notifi aid number nn view determin compat common market letter commiss observ bef million contribut sowagep walloon region state resourc public measur time inform requir assess measur compat articl treati letter commiss express doubt aid grant beaulieu group walloon region ground group secur payment term bui share ghlin jumet plant accept privat financi institut wonder transfer lieu payment place decemb week verlipack file bankruptci constitut aid beaulieu group mean articl treati letter juli commiss request inform aspect activ worldwid investor step sowagep find privat investor made bef million subscrib worldwid investor june explan differ share acquir beaulieu group explan hey group ignor transact involv intervent walloon author explan year grace period grant walloon region beaulieu group payment share circumst week verlipack file bankruptci time fulli awar fact verlipack make loss prompt walloon region accept earli repay debt letter commiss wonder real beneficiari increas verlipack capit subscrib june worldwid investor letter septemb belgium ask time repli question commiss acced request letter septemb letter septemb commiss issu remind belgium fail submit inform request deadlin set belgium provid inform requir examin measur question accord articl council regul ec march lai detail rule applic articl ec treati commiss issu injunct requir belgium suppli document inform data examin compat common market relev measur favour verlipack beaulieu group decis reproduc word letter juli inform request notifi belgium letter januari ref sgd iv repli belgium initi procedur letter regist receiv januari belgium repli commiss letter juli term verlipack group poor result reduct scale loss observ march result mark increas product relaunch plan adopt privat public partner enter agreement head agreement june plan summaris gt tabl gt walloon region involv stress convers capit bef million subordin loan cover neg final decis octob capit increas bef million walloon region suppos find privat investor walloon author order ensur relaunch plan implement immedi beaulieu group offer put fund quot provid temporari measur fund repaid investor walloon region find quot belgium beaulieu group waiv debt bef million interest ensur relaunch plan produc anticip result happen worldwid investor sa luxembourg invest compani june put bef million increas verlipack capit belgium beaulieu group behalf belgian author relaunch plan succe curb verlipack mount loss walloon region unabl find privat investor walloon region beaulieu group jointli decid amend term agreement beaulieu group purchas share held walloon region verlipack ghlin verlipack jumet term supplementari agreement novemb amend agreement beaulieu walloon region payment bef share acquir beaulieu made quot bank transfer account walloon region transfer lieu payment share capit sa verlipack hold ii quot decemb worldwid investor transfer share verlipack hold ii beaulieu group return beaulieu group transfer share verlipack hold worldwid investor belgium confirm unspecifi date decemb beaulieu group transfer share verlipack hold ii walloon region quot exchang waiver beaulieu debt region annex quot letter regist receiv januari belgian author repli incomplet beaulieu group cooper submit commun commiss confirm letter cover question contain inform injunct light inform commiss conclud june debt waiver involv transfer public resourc part belgian state constitut prima faci state aid mean articl ec treati view doubt exist compat articl treati articl eea agreement aid receiv verlipack beaulieu group initi articl procedur regard decis commun belgium letter june comment belgium letter receiv commiss juli belgium repeat comment made context injunct summaris verlipack group poor result reduct scale loss observ march result mark increas product relaunch plan adopt privat public partner enter agreement head agreement june plan walloon region undertook convert bef million subordin loan capit ii find privat investor contribut bef million verlipack capit convers capit bef million subordin loan cover neg final decis octob cover procedur search privat investor walloon author undertak quot met sowagep short term quot state quot beaulieu propos sowagep put fund provid temporari measur fund repaid investor sowagep find intervent beaulieu result verbal negoti formalis agreement quot happen worldwid investor sa june put bef million increas verlipack capit belgium beaulieu group behalf belgian author relaunch plan succe curb verlipack mount loss walloon region unabl find privat investor walloon region beaulieu group jointli decid mean supplementari agreement novemb amend term agreement enabl beaulieu group acquir share held walloon region verlipack ghlin verlipack jumet term supplementari agreement payment bef share acquir beaulieu made quot bank transfer account walloon region transfer lieu payment share capit sa verlipack hold ii quot walloon author supplementari agreement quot clear indic temporari natur beaulieu intervent favour verlipack group exist nomine transact walloon region behalf quot page letter juli final decemb worldwid investor transfer share verlipack hold ii beaulieu group return beaulieu group transfer share verlipack hold worldwid investor belgium confirm unspecifi date decemb beaulieu group transfer share verlipack hold ii walloon region quot exchang waiver beaulieu debt region quot regard share worthless real term asset compani mon commerci court quot reduc franc unabl obtain bank loan meet liabil condit bankruptci met quot vi comment interest parti collectif de défens de travailleur licencié de verlipack jumet ghlin present comment fact establish commiss refer social consequ crisi verlipack group suppli copi minut meet verlipack board copi letter sign union repres verlipack ghlin plant unit kingdom perman represent present comment behalf associ lead unit kingdom carpet manufactur carpet foundat british carpet manufactur associ unit kingdom europ largest market fit carpet home type floor cover obviou reason unit kingdom market target competit import increas extent import fit carpet account total volum fit unit kingdom term dramat growth threaten continu exist unit kingdom fit carpet industri import insignific industri emploi peopl import account market peopl directli emploi industri carpet foundat consid main beneficiari major market penetr manufactur belgium account fit carpet import unit kingdom twenti year import belgium increas tenfold million million averag price fit carpet import unit kingdom gbp export fit carpet gbp recent figur suppli unit kingdom depart trade industri dti reveal deficit vi vi rest commun gbp million commiss inform beaulieu recent year implic dubiou financi transact present case beaulieu clear debt bef million transfer share verlipack hold ii walloon region carpet foundat view walloon region effect waiv debt equival gbp million state aid consid debt waiver constitut oper aid beaulieu verlipack incompat common market repli comment parti belgium ask commiss disregard collectif de travailleur licencié insuffici repres bodi belgium fail submit deadlin set comment point rais unit kingdom vii assess aid vii exist state aid mean articl treati articl treati stipul aid grant member state state resourc form whatsoev distort threaten distort competit favour undertak product good affect trade member state incompat common market concept aid wider grant extend measur form reduc charg born firm budget ident effect grant involv direct transfer state resourc measur public author renounc claim place beneficiari favour posit taxpay constitut state aid mean articl treati tabl provid statist carpet textil floor cover reveal exist trade belgium member state gt tabl gt sourc eurostat gt tabl gt sourc eurostat view aid recipi market posit aid grant group liabl affect trade distort competit sale beaulieu wielsbek nv subsidiari ter lembeek intern activ carpet market amount bef bef bef data suppli unit kingdom perman represent demonstr exist signific level trade commun vii contribut bef million verlipack hold ii leav complex legal financi arrang intervent june worldwid investor inject bef million verlipack hold ii indisput fact stand decemb beaulieu group settl debt bef walloon region transfer lieu payment share verlipack hold ii nomin bef million real prove significantli lower asset posit compani regard share born mind februari verlipack hold ii file suspens payment mon commerci court grant suspens effect june rule state inter alia quot compani verlipack hold ii asset reduc franc unabl obtain bank loan meet liabil condit bankruptci met quot event bankruptci declar walloon region intend pursu recoveri amount ow grant credit debtor propos meet cost voluntari liquid consequ court found condit bankruptci part verlipack hold ii met object longer exist destin put liquid belgium claim price bef determin decemb vote share profit share transfer sowagep beaulieu group correspond belgium quot price impos royal decre quot articl royal decre purchas price vote preferenti share quot lower issu price quot belgium price bef vote profit share purchas beaulieu group decemb equival issu price requir set price equival issu price statutori impos distinct wish purchas preferenti share fact purchas price set basi nation rule applic distinct belgium acknowledg letter juli wish purchas preferenti share conclud price set paid beaulieu group confirm belgian author state letter januari quot debt bef beaulieu group walloon region definit debt repay link financi situat verlipack group quot rule mon commerci court asset verlipack hold ii file suspens payment februari reduc franc court stipul quot suspens payment effect june quot share receiv payment accept clearanc definit debt bef walloon region effect waiv debt amount vi vi beaulieu group commiss consid oper constitut quot debt waiver quot belgium confirm letter januari belgium argu beaulieu group draw econom benefit oper waiv debt belgium compens beaulieu group quot capit contribut made june quot differ bef amount debt bef million nomin amount capit contribut justifi quot earli repay debt remuner nomine transact quot regard aspect refer made term head agreement june point state quot capit increas cash bef promot sowagep verlipack hold ii capit increas verlipack group compani sharehold accept sharehold verlipack hold ii quot letter januari belgium context quot sowagep undertook find privat investor make bef million cash inject quot page letter juli belgium state measur provid head agreement includ quot capit increas bef million privat investor introduc sowagep renam sogepa quot page walloon author undertook head agreement introduc investor contribut bef million capit verlipack hold ii formal injunct initi procedur belgium fail provid proof exist agreement beaulieu group walloon region beaulieu walloon region undertak head agreement june find investor put bef million event belgium provid proof exist nomine agreement beaulieu group worldwid investor belgium confirm respons initi procedur formal agreement quot verbal negoti formalis agreement quot accept light comment present belgium beaulieu group decid walloon region undertak head agreement june conclud beaulieu group undertook introduc investor contribut bef million verlipack ii capit privat investor world investor found run risk invest firm verlipack hold ii respons initi procedur suggest substanti bear suppos verbal agreement beaulieu group walloon region undertak head agreement june find investor put bef million walloon region undertak head agreement find investor put bef million suggest beaulieu group walloon region undertak head agreement find investor put bef million undertak intend ensur event bef million contribut verlipack hold ii capit put amount sowagep supposedli guarante basi inform suppli belgium commiss consid member state demonstr agreement beaulieu group undertak find investor put bef million exist ii separ extens agreement walloon region allegedli guarante beaulieu group repay bef million privat investor contribut incontrovert aspect fact novemb walloon region waiv definit debt bef ow beaulieu group exchang share compani verlipack hold ii situat worsen extent june requir refinanc plan context find privat investor contribut bef million capit compani asset valu februari franc light circumst commiss conclud debt waiver involv transfer public resourc part belgian state constitut state aid mean articl treati vii debt waiver favour verlipack hold ii januari verlipack sought court approv arrang creditor plant jumet ghlin announc closur plant mol januari commerci court turnhout declar verlipack mol bankrupt januari commerci court mon declar compani glassmak group verlipack bankrupt plant ghlin jumet verlipack belgium verlipack engin verlimo imcourleas recognis longer liquid asset meet debt verlipack hold ii file bankruptci mon commerci court februari court sowagep quot act behalf walloon region minor sharehold compani quot intend pursu recoveri amount ow grant credit debtor meet cost voluntari liquid consequ court found condit bankruptci part verlipack hold ii met stress purpos laps destin put liquid question point procedur initi walloon region confirm adopt neg decis octob notic verlipack hold ii repai aid subsequ februari mon commerci court declar verlipack hold ii bankrupt commiss note purpos verlipack hold ii hold manag share seri compani declar bankrupt result object longer exist step liquid asset render worthless creditor hope recov part ow circumst view closur product instal fact hold liquid commiss find debt waiver grant verlipack hold ii involv transfer public resourc confer econom advantag verlipack hold ii creditor liabl distort competit affect trade vii compat aid commiss note belgium invok derog provid treati posit case involv grant state aid consid derog provid articl treati appli measur review constitut aid social charact grant individu consum aid make good damag caus natur disast aid compens econom disadvantag caus divis germani derog provid articl appli aid design compens econom disadvantag area promot execut import project common european interest promot cultur heritag conserv remain examin aid question qualifi derog provid articl aid facilit develop econom activ aid advers affect trade condit extent contrari common interest product unit compani belong beaulieu group locat assist region articl region qualifi region aid scheme authoris commiss maximum ceil net belgium respons initi procedur suppli inform enabl aid question classifi invest aid elig invest verifi intens aid calcul commiss take view aid question concern condit appli derog provid articl connect develop econom area met inform commiss dispos intervent walloon author lead measur question regard oper aid beaulieu group incompat common market design reliev beaulieu group cost bear normal condit dai dai oper activ commiss state point guidelin nation region aid region aid aim reduc firm current expens oper aid incompat common market exception aid grant region elig derog articl provid justifi term contribut region develop natur level proport handicap seek allevi commiss note beaulieu group product plant situat region refer articl treati view commiss find aid compat common market viii conclus state aid implement belgium beaulieu group ter lembeek intern form waiver debt bef incompat common market commiss find belgium illeg implement aid question violat articl articl council regul ec stipul unlaw aid commiss deem incompat common market subject decis requir recov beneficiari order restor econom condit compani contend grant incompat aid belgian author step withdraw benefit deriv aid recov beneficiari aid recov accord procedur laid nation law includ interest date aid beneficiari dispos date effect recoveri calcul basi refer rate calcul net grant equival region aid belgium adopt decis articl state aid belgium implement beaulieu group ter lembeek intern form waiver debt bef incompat common market articl belgium step recov beneficiari aid refer articl unlawfulli made beneficiari recoveri effect delai accord procedur nation law provid effect execut decis aid recov includ interest date dispos beneficiari date recoveri interest calcul basi refer rate calcul grant equival region aid articl belgium inform commiss month date notif decis measur compli articl decis address kingdom belgium brussel april commiss mario monti member commiss oj oj oj footnot oj oj agreement decemb sa ter lembeek intern bought hold sowagep manag compani hold walloon region commerci firm verlipack ghlin sa vote preferenti share categori profit share verlipack jumet sa vote preferenti share categori profit share agreement stipul price bef payabl quot decemb net net interest quot hold compani own subsidiari beaulieu wielsbek nv go ter lembeek nv cefima nv verlico nv der grüne teppich gmbh beja textil lda beaulieu servic centr moskau datex nv beaulieu kunstoffen nv chemic financ compani de steenhout nv verlipack hold nv quot full knowledg statut financi situat verlipack hold ii quot supplementari agreement novemb transfer agreement decemb walloon region beaulieu group acquisit share respons initi formal investig procedur result decis octob page context procedur result decis septemb subsequ revok quot firm difficulti desir part privat sharehold banker provid verlipack financ walloon region agre principl particip condit bef million capit increas walloon region point implement project prior notif commiss authoris present project tend grant bef million long term loan term appli verlipack bank walloon region ensur contact commiss condit finalis project met final verlipack manag announc initi result point start improv quot oj note annex question relat transfer share held beaulieu group walloon region exchang share worldwid investor beaulieu group happen bankruptci declar purpos laps compani destin put liquid walloon region intend pursu recoveri amount ow grant credit debtor question point time procedur initi walloon region confirm result adopt neg decis octob instruct verlipack hold ii repai state aid mon commerci court judgment februari declar verlipack hold ii bankrupt date file suspens payment beaulieu group lead european carpet manufactur export product weaver manufactur establish belgium sold million carpet total turnov eur million make largest european manufactur sector data publish websit http www aw march export product world predominantli europ royal decre issu vote preferenti share limit compani nation sector moniteur belg share question vote share subscrib compani undergo restructur société national investiss société national pour la restructur de secteur nationaux fond voor de herstructur van de nationalen sectoren het vlaams gewest fond pour la restructur de secteur nationaux en région wallonn limit liabil compani quot société anonym quot société national investiss hold capit provid authoris decre minist econom affair letter repli commiss letter juli recit rule mon commerci court footnot agreement decemb stipul price bef payabl decemb net net interest context injunct issu belgium walloon author legal counsel approach legal counsel beaulieu group order obtain inform repli injunct belgium pass repli beaulieu group legal counsel addit beaulieu group legal counsel forward context procedur recit rule mon commerci court oj letter commiss member state sg march judgment court justic march case belgium commiss ecr