88/282/EEC: Commission Decision of 9 December 1987 on aid from the French Government to the wood-processing sector (Isoroy and Pinault) (Only the French text is authentic)

• Articles: 4

Article 1

The aid in the form of subsidies of FF 12 million and equity loans of FF 112 million granted to Isoroy in 1983, of subsidies of FF 68 million and equity loans of FF 40 million granted to Isoroy in 1985, together with the aid resulting from the authorization granted by Isoroy in 1985 to stagger its debt payments to the public authorities amounting to FF 98,5 million, is illegal and incompatible with the common market within the meaning of Articles 92 and 93 (3) of the EEC Treaty.

Article 2

1. The aid elements contained in the assistance granted to Pinault in 1986 in the form of repayable interest-free advances amounting to FF 176 million and equity loans at the rate of 5,5 % during the first three years (totalling FF 50 million) are incompatible with the common market within the meaning of Article 92 of the EEC Treaty and must therefore be abolished from the date of notification of this Decision to the French Government.

2. Of the assistance referred to in paragraph 1, FF 126 million in advances and FF 50 million in equity loans were granted to Pinault in violation of the rules of procedure provided for in Article 93 (3) and are therefore illegal.

3. The French Government shall recover the interest on the sums of FF 126 million and FF 50 million referred to in paragraph 2 which Pinault has enjoyed since November 1986 and which amounts to FF 12 million and FF 2 million respectively on the date of adoption of this Decision.

Article 3

The French Government shall inform the Commission of the arrangements made to comply with this Decision within two months of the date of notification of this Decision.

Article 4

This Decision is addressed to the French Republic.

Done at Brussels, 9 December 1987.

For the Commission

Peter SUTHERLAND

Member of the Commission

(1) OJ No L 11, 12. 1. 1985, p. 28.

(2) OJ No C 31, 3. 2. 1979, p. 9.