commiss decis octob state aid grant germani graf von henneberg porzellan gmbh ilmenau 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 call interest parti submit comment pursuant provis cite regard comment procedur letter date novemb march commiss receiv complaint competitor alleg misus purport state aid grant graf von henneberg porzellan gmbh locat ilmenau thuringia inform request commiss januari germani submit repli inform provid complain meet commiss offici german author septemb commiss request septemb case notifi commiss remind novemb germani submit inform refus notifi aid novemb case regist notifi aid nn letter date juli commiss inform germani initi procedur laid articl ec treati respect aid time germani enjoin provid inform data assess number aid measur compli term approv aid scheme allegedli grant commiss decis initi procedur publish offici journal european commun commiss invit interest parti submit comment aid commiss receiv comment associ european ceram industri cérame uni undertak comment forward germani letter date decemb septemb germani respond inform injunct inform commiss aid measur notifi commiss pose question novemb repli receiv decemb meet repres german author held januari question januari repli receiv march letter date april commiss inform germani extend procedur laid articl ec treati aid measur compli term approv aid scheme allegedli award aid measur commiss inform commiss decis extend procedur publish offici journal european commun commiss invit interest parti submit comment aid commiss receiv comment complain aid recipi letter date august comment forward germani opportun react june germani repli extens formal investig procedur submit extens inform relev aid measur ii detail descript aid compani graf von henneberg porzellan gmbh manufactur porcelain dish china locat region elig aid articl ec treati data oper correspond manag report submit commiss gt tabl gt compani creat march transform volkseigenen betrieb henneberg porzellan ilmenau privat limit compani graf von henneberg porzellan gmbh gvh regist meiningen local court august number hrb august treuhandanstalt tha privatis gvh open call tender sell dem million mr jamalian sale condit payment purchas price tha waiv condit septemb septemb mr jamalian sole manag sharehold compani januari tha revis privatis contract waiv payment purchas price oblig agre privatis mr jamalian agre increas compani capit dem million capit increas place juli gvh file bankruptci end month thuringia landesentwicklungsgesellschaft leg request consult firm project manag eschbach pme propos solut compani includ state particip august meiningen local court initi bankruptci proceed gesamtvollstreckungsverfahren undertak graf von henneberg porzellan abwicklung gvhia august pme present propos local author repres state own thuringia industriebeteiligung gmbh amp kg tib includ mr frowein employe tib germani administr bankruptci continu busi activ sought investor germani state potenti investor show interest made offer novemb employ contract workforc cancel decemb compani creat graf von henneberg porzellan gmbh gvh gvhia tib share gvh set capit dem million dem million contribut gvhia dem million tib germani gvh longer difficulti januari major workforc gvhia gvh januari gvh acquir asset gvhia dem million price fulli financ loan thuringia aufbaubank tab price report pme explan determin januari compani regist meiningen local court number hrb germani investor sought gvh set found august share gvh sold mr frowein dem million indic price determin share deal germani refer compani gvh press septemb mr frowein acquir share glashütt schmiedefeld gmbh competitor involv bankruptci proceed compani employe subsidiari gvh produc glass restructur restructur plan gvh plan devis tha adapt mr jamalian stretch half main point concentr bundesländ east european market posit trade mark quot graf von henneberg quot low middl price segment reduct cost personnel materi energi improv effici train computeris order distribut system recycl reorganis stock improv product plan foresaw invest dem million cover loss dem million interest payment dem million financ credit dem million amortis debt gt tabl gt end gvh lost order russia iran face failur oven led acut crisi revis plan period kei point reorganis gvh structur reduct cost personnel surfac direct distribut product telephon market germani design distribut strategi south european market point liquid insolv unavoid plan conting capit contribut dem million mr jamalian place gt tabl gt restructur plan gvh report pme present restructur plan gvh report present scenario involv combin solut porcelain manufactur thuringia solut chosen part report analys model continu compani substanc report cost analysi forecast result basi tib particip main point sale asset dem million employe traine outsourc mass product porcelain price increas reorganis measur concentr product elimin area reduc surfac save energi invest dem million repair result forecast depend turnov figur gt tabl gt takeov mr frowein plan revis reason identifi failur previou restructur mismanag optimist forecast implement restructur plan set short term measur design stabilis staff cutback affect manag posit creation profit centr charg logist set medium term measur intend consolid diversif product direct distribut cooper porcelain manufactur invest dem million revis foreseen cumul loss dem million june month loss amount dem million cooper manufactur set plan revis forese moder growth base strengthen porcelain product hotel increas product germani stabilis export invest dem million gt tabl gt financi measur tabl list financi measur support gvh gvhia gvh note amount date correspond latest inform submit germani financi measur support gvh guarante relat credit full amount includ total includ avoid doubl count guarante measur includ credit relat includ tabl gt tabl gt measur tha measur debt tha debt date juli credit deutsch bank ilmenau measur payment purchas price postpon time final waiv revis privatis contract measur guarante dem million includ interest process fee measur germani grant paid compens loss dem million gener loss order russia loss dem million due defect oven tha agre origin pai dem million germani dem million paid outstand amount offset guarante measur land thuringia measur direct invest grant dem million measur grant dem million measur subsidiari guarante cover credit measur measur invest tax refund dem million measur state own financi entiti measur credit hessisch landesbank helaba measur guarante berlin industriebank deutsch ausgleichsbank dta amount dem million measur credit bayerisch landesbank measur advanc financ grant measur expect tha measur credit sparkassen ilmenau erfurt measur advanc payment dem million real estat allegedli worth dem million thuringia financ ministri price determin public real estat agenc measur measur reimburs subsidi short term liquid germani state subsidi grant amount elimin tabl measur grant amp feder ministri econom affair measur grant programm promot employ labour promot law arbeitsförderungsgesetz quot afg quot secur credit measur assur secur pool subscrib award bank secur provid rang mortgag gvh real estat valu dem million dem million dem million subsidiari guarante measur mortgag gvh machineri instal valu dem million expert addit person guarante mr jamalian provid bank credit measur assur state guarante cover risk default claim regist part estat bankruptci financi measur favour gvhia bayerisch landesbank regist claim dem million cumul interest feder institut special task unif bv regist dem million germani dem million revenu sale real estat measur dem million compens damag agre revis privatis contract interest feder ministri econom affair regist claim dem million interest measur helaba regist claim dem million germani amount consist measur interest arrear sparkass ilmenau regist credit measur interest sparkass erfurt regist claim dem million interest inform submit credit dem million dem million grant gvh entiti germani provid explan differ tab regist dem million dem million correspond measur interest germani remain amount relat direct invest grant measur tab regist land thuringia commiss note town ilmenau regist claim tax period dem million part estat bankruptci inform state main creditor gvh indic amount collect part bankruptci proceed basi inform commiss determin exact amount collect relev lender financi measur support gvhia guarante measur includ relat credit measur fulli includ gt tabl gt measur loan dem million germani paid back june measur loan refer paragraph guarante tab measur privatis contract amend provid real estat gvh sold price paid tha basi dem million regist part estat bankruptci proce sale real estat gvh debt waiv bv bankruptci proceed financi measur support gvh gvh amount measur includ total relat credit full amount includ total gt tabl gt measur state own entiti measur particip tib gvh initi capit measur loan tib dem million germani loan paid back month grant includ interest measur loan tab purchas asset germani state part loan paid back direct invest grant measur measur credit tab august tab offer waiv repay dem million futur profit gener besserungsschein cap dem million offer accept assess measur tab renounc posit list creditor credit measur avoid insolv measur land thuringia measur direct invest grant measur invest allow dem million grant commiss inform dem million demand paid measur measur gvh legal successor gvh obtain grant dem million afg programm promot employ measur seri grant award measur grant amp award market graf von henneberg gmbh produc china porcelain dish household sector profession hotel decor nace product export relev econom sector tablewar decor porcelain intens trade member state decor porcelain produc europ import region concentr tablewar produc exist northern bavaria germani staffordshir unit kingdom limousin franc plethora sme number larg undertak includ villeroi amp boch germani luxembourg hutschenreuth rosenth germani royal doulton wedgewood unit kingdom account product commun special requir hotel cater trade rise quot hotelwar quot sector special design hard wear ceram unit kingdom germani itali main produc consum countri close relationship final consum compet design special featur labour intens industri enorm arrai product sale countri exce european import import tonnag higher level export due extrem low price import china overcapac porcelain industri product consumpt regist continu growth contract recoveri expect occur trade balanc year posit share import increas markedli household china growth export suffici offset increas competit sector contrari strong competit overcapac reinforc due market entrant south east asia eastern european countri czech republ hungari benefit preferenti trade arrang commun iii ground initi formal investig procedur initi formal investig procedur commiss analys financi measur support gvh gvhia gvh light articl ec treati articl eea agreement commiss consid measur constitut aid doubt complianc common market commiss doubt number aid measur compli term approv aid scheme purportedli grant commiss issu inform injunct context initi formal investig procedur inform suppli germani initi formal investig procedur commiss found detail numer measur notifi inform submit dispel commiss doubt complianc aid allegedli grant approv aid scheme relev scheme commiss extend formal investig procedur cover measur iv comment interest parti context initi formal investig procedur commiss receiv comment associ european ceram industri ceram uni gvh comment forward letter date decemb germani opportun react context extens formal investig procedur commiss receiv comment complain state allow make offer asset gvh comment receiv aid recipi comment forward germani letter date august comment germani germani respond initi extens formal investig procedur point gvh gvh undertak continu treat proceed germani state financi measur support gvh constitut aid constitut exist aid gvh germani state compani difficulti financi measur support constitut aid constitut exist aid regard de minimi aid germani submit reaction comment interest parti receiv context initi formal investig procedur receiv context extens formal investig procedur respons septemb germani support inform submit undertak deni competitor exclud sale vi assess aid mean articl ec treati financi assist deriv public resourc award gvh gvhia gvh give entiti advantag competitor porcelain market highli competit european product market suffer overcapac financi advantag favour compani respect competitor threaten distort competit affect trade member state extens formal investig procedur commiss conclud measur constitut aid remain measur regard state aid germani contest commiss view express initi extens formal investig procedur gvh gvhia compani difficulti germani insist part measur constitut aid commiss substanti view measur germani claim measur cover relev tha regim commiss found manifestli cover scheme germani alleg constitut aid germani tha held respons loss gener loss order russia due defect oven germani view tha risk incur higher loss confront mr jamalian court mr jamalian threaten annul privatis contract accept revis privatis contract germani state award measur line behaviour privat investor privatis contract provid oblig indemnifi loss order end order lost privatis mr jamalian effect justif tha held respons loss mr jamalian annul privatis contract basi indemnif defect oven privatis contract provid warranti liabil limit purchas price tha liabil expir month discoveri failur decemb latest commiss inform failur discov legal action mr jamalian undertaken calcul report justifi amount paid effect amount fair indemnif provid final settlement place tha warranti liabil expir compens exceed limit provid privatis contract commiss conclud measur constitut aid measur concern waiver purchas price carri favour mr jamalian commiss aid gvh measur guarante tha claim fall relev tha regim commiss establish manifestli cover aid scheme germani alleg constitut aid germani state gvh real estat allow compani obtain liquid bank due unforeseen administr delai transmit properti real estat immedi free encumbr tha award guarante gvh obtain liquid commiss note privatis contract impos tha oblig ensur gvh obtain liquid tha oblig compens administr delai respons commiss note lack contractu basi award guarante verifi purpos extent note guarante made real estat commiss consid extra advantag favour gvh base legal oblig line aim purportedli award reflect behaviour market economi investor measur state own bank germani insist constitut aid explain initi extens formal investig procedur gvh compani difficulti indebt commiss conclud market economi investor provid financi support market condit inform credit grant market condit credit measur redempt free period year shown tabl credit grant refer rate interest commiss notic septemb method set refer discount rate increas compani difficulti credit grant market rate gt tabl gt credit measur assur secur pool recit secur provid commiss note real estat subsequ mortgag valu confirm extern evalu addit mortgag provid helaba verifi machineri instal insuffici constitut adequ secur note asset directli indirectli financ aid grant privatis person guarante mr jamalian unspecifi amount enter forc secur enforc germani sale asset gvh gvh financi entiti concern obtain dem million credit amount correspond part tab loan measur commiss consid low amount recov sole evid reduc secur provid compani difficulti alter fact gvh obtain advantag obtain market economi investor credit measur assur state guarante risk default credit compani difficulti assum state commiss consid exist guarante decis element lead bank award credit remain risk default indebt compani assum public bank provis secur commiss conclud public bank act market investor inform provid condit loan measur grant commiss conclud grant market rate loan grant provis secur correspond behaviour market economi investor view financi situat compani time request sparkass august compani provid mortgag dem million inform mortgag provid commiss rule possibl relat asset provid secur pool commiss consid provis mortgag alter fact loan made compani difficulti unknown term year provid secur bankruptci proceed sparkass recov dem million state mortgag relat asset directli indirectli financ state aid gvh partial recoveri bankruptci proceed alter post assess credit take account difficulti compani rate interest lack accept privat secur commiss conclud credit constitut aid potenti full amount amount state guarante calcul aid avoid doubl count measur advanc payment tab real estat intend acquir public entiti claim constitut aid commiss consid analog commiss commun state aid element sale land build public author price real estat determin independ expert commiss conclud market economi investor advanc larg amount compani verg insolv asset mortgag sign contract demand collater commiss exclud possibl advanc payment constitut aid measur state initi formal investig procedur loan state own bank bankrupt gvhia regard full aid commiss consid privat investor award loan compani bankruptci secur state guarante fact loan fulli repaid includ interest chang assess compani obtain advantag obtain market economi investor measur germani debt contest prioriti claim administr bankruptci germani appeal decis administr bankruptci announc dividend obtain prioriti claim commiss note dividend fact obtain prioriti claim germani demonstr presum cost appeal higher dividend germani obtain claim recognis prioriti germani possibl success appeal commiss conclud waiver place accord privat creditor principl amount deem aid germani argu gvh compani difficulti financi measur support constitut aid state initi extens formal investig procedur gvh regard compani difficulti moment creation commiss refer point exhaust analysi initi extens formal investig procedur point financi report show gvh financi indebt oper loss creation discharg debt subsequ capit inject state financi measur support deriv state resourc regard aid commiss refer assess individu contest measur measur germani submit report drawn pme intend show gvh difficulti time creation tib behav privat investor aim obtain profit explain report date decemb forecast compani result light hold tib report forecast previou section commiss consid forecast turnov figur realist support market analysi take account previou perform compani fact porcelain industri suffer overcapac turnov figur forecast worst case scenario achiev addit gvh undergo success restructur clear ongo concern undergo substanti restructur oper effici unrealist process year necessarili involv consider financi commit sharehold final optimist result forecast repres profit state commiss conclud tib act market investor measur state own bank germani claim commiss note financi result gvh show compani difficulti time award measur highli doubt privat investor provid compani financi support market term shown tabl credit grant market rate gt tabl gt credit tab secur mortgag compani asset commiss point gvh asset acquir open transpar uncondit call tender asset financ directli aid regard privat secur addit evalu expert valu real estat build instal dem million view amount credit regard suffici secur behaviour tab waiv posit list creditor measur show provis secur formal intent enforc take account difficulti compani rate interest lack accept privat secur commiss conclud credit constitut aid potenti full amount measur waiver tab posit list creditor avoid insolv measur grant advantag compani forc pai credit back stage regard aid amount account avoid doubl count aid purportedli cover approv aid scheme part aid gvh gvhia gvh allegedli grant approv aid scheme commiss doubt complianc aid measur term scheme allegedli grant issu inform injunct pursuant articl council regul ec march lai detail rule applic articl ec treati suppli document inform data assess extens formal investig procedur commiss conclud inform measur compli term approv aid scheme grant measur regard exist aid reassess commiss commiss state basi inform dispos conclud measur compli term scheme allegedli grant view partial revis light inform suppli extens formal investig procedur measur guarante dem million dta allegedli grant approv scheme germani claim commiss maintain view guarante exce limit dem million provid scheme compli rule cumul aid commiss consid guarante manifestli cover scheme fall assess ad hoc aid measur loan dem million grant approv aid scheme commiss consid inform loan compli condit scheme grant constitut exist aid measur commiss point grant award aid scheme commiss initi formal investig procedur ground misus commiss point scheme meant sme difficulti data submit gvh qualifi sme compani difficulti time award grant commiss maintain aid manifestli cover scheme allegedli grant fall assess ad hoc aid measur germani claim scheme guarante award commiss guarante regard exist aid commiss note registr notifi aid impli scheme approv guarante regard ad hoc aid measur invest tax refund allegedli grant approv region aid scheme assess inform provid germani commiss conclud measur compli ceil provid scheme grant grant constitut exist aid measur commiss verifi inform grant amp respect condit laid scheme grant maximum aid allow year intens constitut exist aid measur state extens formal investig procedur grant promot employ manifestli compli term scheme grant commiss point scheme measur rank aid grant advantag compani privatis enterpris elig benefit measur privatis project develop place interest gener interest inform effect project consist clean part instal gvh remov machineri instal project place interest commiss conclud project repres econom advantag gvh commiss note privatis compani elig particip project part grant award land thuringia feder labour offic regard authoris award grant commiss maintain view grant constitut aid fall assess ad hoc measur direct invest grant allegedli award basi region aid scheme ceil allow sme commiss recommend ec april definit small medium size enterpris commiss state extens formal investig procedur gvh qualifi sme time award grant germani claim relev time time applic aid commiss maintain aid manifestli compli scheme fall assess ad hoc aid measur commiss partial review assess respect grant award grant award amount dem million allegedli base scheme measur compli term reason hand grant award total dem million base approv aid scheme inform term scheme compli amount constitut exist aid measur assess inform provid germani commiss conclud inform invest tax refund compli ceil laid scheme grant grant constitut exist aid measur grant amp award extens investig procedur consid manifestli compli aid scheme sme grant account report gvh fell sme threshold report employe glashütt schmiedefeld account sme statu acquir phenomenon repeat consecut year grant fall consid aid view forego measur part measur constitut inform exist aid amount account assess proportion de minimi aid germani claim measur fall de minimi rule rule ceil aid consid de minimi eur year period begin de minimi aid grant ceil appli total public assist consid de minimi aid affect possibl recipi obtain aid scheme approv commiss respect guarante measur commiss consid fact amount account avoid doubl count constitut aid commiss notic applic articl ec treati state aid form guarante quot time loan grant strong probabl borrow default financi difficulti guarante high amount effect cover guarante quot mean aid element guarante credit relat de minimi rule measur de minimi ceil compli period period germani state condit applic rule compli commiss consid amount cover de minimi rule derog articl ec treati view previou section aid dem million fall assess ad hoc aid commiss articl ec treati derog gener ban aid laid articl exempt articl ec treati appli present case aid measur social charact grant individu consum make good damag caus natur disast except occurr grant economi area feder republ germani affect divis exempt provid articl ec treati primari object aid region concern restor long term viabil undertak difficulti exempt provid articl ec treati appli articl authoris state aid grant promot develop econom sector aid advers affect trade condit extent contrari common interest assess rescu restructur aid commiss issu special guidelin light examin carri commiss consid commun guidelin research develop environ small medium size enterpris employ train appli inform aid grant april commun guidelin decemb state aid rescu restructur firm difficulti guidelin appli commiss point guidelin codifi practic assess compat rescu restructur aid common market guidelin applic aid grant reflect long stand commiss practic restor viabil award restructur aid requir feasibl coher reach restructur plan capabl restor long term viabil firm reason timescal basi realist assumpt restructur aid grant present case gvh gvhia gvh benefit continu award aid grant purpos restructur basi seri plan submit commiss plan fail difficult determin step implement commiss identifi main restructur period onward bankruptci gvh chang investor meant substanti break process nonetheless import plan place period restructur period plan acknowledg market satur foresaw closur capac thuringia saxoni gvh expect doubl sale year reli posit effect common market commiss view figur optimist plan fulli financ state resourc account measur base intern measur extern factor compani control plan revis period includ award aid commiss view loss order russia iran attribut extern reason compani forese wrong market forecast replac defect oven extern investor claim warrant liabil tha impli unforese time privatis except principl restructur aid grant accept restructur plan ensur restor long term viabil view result obtain gvh date level indebted market satur collaps gvh tradit market commiss doubt revis plan realist sale forecast optimist support market analysi urgent renegoti debt point specif step doubt confirm fact gvh file bankruptci gvhia estat bankruptci restructur liquid plan time aid grant state extens formal investig procedur measur compli criteria set rescu aid gener accept period month exceed justif germani submit evid credit grant market term waiver debt measur consist liquid evid amount strict need firm busi final measur undu advers effect industri situat member state capac porcelain industri absenc restructur plan gvhia measur compli compat criteria restructur aid restructur period view develop gvh doubt bankruptci consid unforese set gvh link subsequ award restructur aid justifi restor long term viabil basi report submit doubt report date decemb analys situat light tib particip lack market analysi account restructur cost invest explan restructur financ plan return viabil establish basi scenario depend sale volum base realist assumpt take account porcelain industri suffer capac turnov figur forecast worst case scenario achiev high turnov figur achiev compani come bankruptci proceed achiev addit gvh underw success restructur clear concern undergo substanti restructur order oper effici doubt process year doubt confirm extern evalu year state report date juli imposs determin gvh successfulli restructur main critic point lead assess lie optimist estim turnov growth limit order enter book plan revis takeov mr frowein count obtain posit oper result dem million dem million result forecast light cumul loss dem million june month loss quadrupl plan revis expect result calcul basi waiver debt promis mr frowein takeov place addit compani expect obtain fresh credit bank place bank withdrawn support tab agre waiv posit list creditor order avoid insolv regard restructur aid measur justifi previou seri restructur aid award justif quot time time quot principl provid revis plan evalu consult report conclud decemb compani loss dem million cover capit waiver debt capit inject implement invest vital continu compani report expressli analys compani solvenc commiss note year compani achiev balanc sheet trade profit dem manag report year indebted dem million confirm doubt express commiss initi extens formal investig procedur restor gvh viabil doubt view commiss conclud repeat aid award justifi extern unforese reason commiss conclud aid grant basi restructur plan base realist assumpt lead restor compani long term viabil undu distort competit restructur plan measur offset advers effect competitor aid involv contrari common interest elig exempt pursuant articl ec treati mean undertak situat relev market eu assess demand suppli show structur excess product capac plan make contribut proportion aid receiv restructur industri serv relev market irrevers reduc close capac porcelain industri satur suffer capac aid grant undertak activ sector bound distort competit advers affect trade member state view larg amount aid involv case contribut beneficiari term capac reduct substanti restructur plan submit provid capac reduct term personnel term product restructur plan decemb gvh workforc decemb workforc product germani state restructur period product reduc tonn annum tonn annum germani state replac oven singl oven impli reduct ton annum germani state oven destroi product surfac reduc view latest inform suppli germani commiss acknowledg perman reduct capac fact place proportion restructur cost benefit amount intens aid limit strict minimum need enabl restructur undertaken relat benefit anticip commun viewpoint investor make contribut restructur plan resourc aid grant avoid provid compani surplu cash aggress market distort activ link restructur process state extens formal investig procedur plan provid accur calcul restructur cost plan constantli chang cost restructur step implement determin absenc account restructur cost determin aid strict minimum unclear aid state initi extens formal investig procedur commiss note lack privat contribut restructur gvh investor paid purchas price gvh bring amount gvh capit agre tha revis privatis contract guarante provid secur pool subsidiari secur enforc gvh dem million brought purchas price mr frowein germani claim formal investig procedur close dem million brought privat contribut commiss point award aid contribut investor made depend commiss decis condition demonstr commit investor compani addit evid amount effect contribut view recent bankruptci gvh highli doubt amount paid commiss conclud aid grant proport cost benefit restructur fact substanti amount aid receiv liquid effect suggest possibl aid provid compani surplu cash aggress market distort activ predatori price bui control stake rival compani commiss note complain specif invok possibl inform commiss view predatori price place acquisit share glashütt schmiedefeld gmbh commiss exclud possibl aid gvh purpos full implement restructur plan view seri plan fail constant amend commiss conclud requir guidelin fulfil vii conclus commiss find germani unlawfulli implement aid question breach articl treati aid incompat common market recov recipi accord commiss standard practic case law court justic european commun aid recov undertak benefit aid view place aid recipi commiss deem defin extent oblig recov aid decis initi extend formal investig procedur commiss found gvh continu busi activ gvh compani own asset activ product market corpor produc product plant employe workforc reduc indic parti set commiss recognis gvh gvh distinct legal person busi activ gvh continu bankruptci proceed asset sold gvh framework ongo busi activ commiss note sale asset gvhia gvh place open uncondit bid procedur alleg search investor last month inform present prior initi formal investig procedur land thuringia sought leg bankruptci proceed initi solut gvhia involv state hold subsequ occur commiss recognis investor gvh gvhia tib select highest bidder open uncondit call tender germani state negoti initi potenti investor commiss receiv repli competitor state prevent submit bid commiss found congruiti gvh gvh term control bankrupt gvh asset formal possess gvhia start capit gvh financ monei bankrupt gvh asset remain dem million price dem million paid asset contribut state gvh princip creditor sale assign asset cash asset control legal entiti remain hand accord commiss establish practic compani receiv aid sold market benefit aid remain seller uncondit call tender made present case commiss conclud purchas price paid asset gvh correspond normal market price buyer gvh likewis benefit aid grant gvh princip creditor compani wound state behav privat creditor order rule possibl state aid involv action privat creditor wound compani fulfil claim compani form asset subsequ transfer purpos sell asset highest bidder highest price fulfil claim commiss conclud case state compani financ purchas asset year sold share lower price paid final decis extens formal investig procedur commiss point regard gvh sharehold ownership relationship result creation legal entiti exempt claim buyer protect exercis normal due dilig transact appli mr frowein awar compani situat outset bankruptci proceed gvh regard compani gvh note mr frowein select open uncondit transpar tender procedur commiss conclud order implement decis correctli germani behav privat creditor act due dilig nation law appli disadvantag imped collect make extrem difficult principl mean germani seek collect debt immedi mean dispos principl nation law stand complet applic european law order prevent effect decis frustrat market continu distort commiss compel requir recoveri restrict origin undertak extend undertak continu activ origin undertak transfer mean product case element transfer point econom continu undertak commiss consid addit aid directli grant gvh benefit aid predecessor order duli compli decis germani action direct aid recipi successor gvh oblig repai aid unlawfulli receiv jointli oblig repai unlaw aid grant gvh includ aid grant bankruptci proceed germani action firm benefit transfer asset question help frustrat effect decis adopt decis articl state aid germani grant graf von henneberg perzellan gmbh incompat common market incompat aid refer paragraph includ measur support graf von henneberg porzellan gmbh establish graf von henneberg abwicklung loan hessisch landesbank helaba measur origin total dem million loan bayerisch landesbank measur origin total dem million guarante treuhandanstalt tha dem million measur grant dem million tha measur grant dem million measur loan sparkass ilmenau measur origin amount dem million loan sparkass efurt measur origin amount dem million advanc payment dem million thüringer aufbaubank tab measur grant dem million promot employ measur incompat aid includ measur support graf von henneberg porzellan gmbh establish activ market loan dem million helaba measur waiver debt dem million feder offic special task relat unif bv measur particip dem million thüringer industriebeteiligung gmbh amp kg tib gvh initi capit measur sharehold loan dem million tib measur loan tab measur origin total dem million direct invest grant dem million measur amount dem million paid grant promot employ measur grant dem million research develop measur articl germani measur recov beneficiari aid refer articl unlawfulli made beneficiari except aid measur paid back interest date grant 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 purpos paragraph term quot beneficiari quot includ graf von henneberg porzellan gmbh establish bankruptci graf von henneberg porzellan gmhh establish liabl aid grant predecessor undertak asset abovement legal person transfer transfer frustrat effect decis articl germani inform commiss month notif decis measur compli articl decis address feder republ germani brussel octob commiss mario monti member commiss oj footnot oj except real estat germani sold credit advanc tha grant measur fulli made claim back grant reduc end month award contrari prolong month data extract websit ceram uni http www cerameuni org panorama eu industri nace revis commiss decis ec case tripti porzellan gmbh oj oj oj oj sg decemb sg novemb scheme sme employe turnov dem million asset dem million nn invest allow act sg june sg novemb scheme provid aid intens larg small enterpris rule cumul region aid compli sg novemb nn sg januari outlin plan joint feder govern länder scheme improv region econom structur oj oj commiss regul ec quot aid consid grant moment legal receiv aid confer beneficiari quot oj annex ii commiss regul ec refer made grant aid oj council regul ec refer grant aid footnot nn forc april approv letter sg februari invest allow act aid intens small larg undertak sg decemb sg januari oj point oj point guidelin state quot commiss examin compat common market rescu restructur aid grant authoris basi guidelin forc time aid grant quot oj justif turnov suppos increas dem million dem million year state letter mr frowein date januari commiss possess event share purchas oblig repai aid remain compani case itali commiss ecr footnot recit commiss decis ec seleco spa oj commiss decis ec smi oj ec cda oj