96/614/EC: Commission Decision of 29 May 1996 concerning certain measures granted by Italy in favour of Breda Fucine Meridionali SpA (Only the Italian text is authentic) (Text with EEA relevance)
The State aid granted to BFM, namely:
(a) the capital contributions totalling Lit 12 billion, consisting of Lit 7 billion in 1986 and Lit 5 billion in 1987;
(b) the making good of losses totalling Lit 50,8 billion, consisting of Lit 7,1 billion in 1985, Lit 11,2 billion in 1987, Lit 3,9 billion in 1988, Lit 11,6 billion in 1990, and Lit 17 billion in 1991;
(c) the financing granted to BFM by Finanziaria Ernesto Breda and by EFIM, the amount owed by BFM to its two parent companies totalling Lit 63 billion;
(d) Article 7 (2) of Law No 33/1993, as extended by the Decree of 24 January 1996, inasmuch as it enabled BFM to postpone repayment of its public debts, its debts to public enterprises and its debts toward public financial institutions, and to remain in business without repaying State aid declared incompatible and without being wound up;
(e) the provisions of Law No 33/1993 inasmuch as they allowed BFM to suspend repayments of loans granted by the public financial institutions Isveimer and IMI totalling Lit 6 609 million;
is illegal as it was not notified in advance to the Commission in accordance with Article 93 (3) of the EC Treaty.
The aid is also incompatible with the common market within the meaning of Article 92 of the Treaty.
Italy shall recover the aid paid to BFM in accordance with the provisions of Italian law relating to the recovery of amounts owed to State.
In order to abolish the effects of the aid, interest shall be charged on the amount of aid, as from the date of its award and until the date of its repayment. The rate shall be that used by the Commission to calculate the net grant equivalent of regional aid in the period in question.
Italy shall forthwith suspend, with regard to BFM, the application of the provisions relating to the extension of the derogation from ordinary law with regard to the public debts and the debts to public enterprises. Furthermore, Italy shall, solely with regard to BFM, forthwith suspend the application of the provisions relating to the suspension of the repayment of loans granted by the public financial institutions.
Italy shall inform the Commission, within two months of the notification of this Decision, of the measures taken to comply herewith.
This Decision is addressed to the Italian Republic.
Done at Brussels, 29 May 1996.
For the Commission Karel VAN MIERT Member of the Commission
(1) The market for crossing frogs in Europe continues to suffer from overcapacity. In 1996 total estimated capacity in the Community (Manoir, BFM, Jadot, Jez Amurrio) is 8 400 crossing frogs, whereas maximum demand will probably total only 5 615 units.
(2) Paragraph 26.
(1) [1989] ECR, p. 175.
Source: EUR-Lex (Publications Office of the EU), Β© European Union, reuse permitted under Commission Decision 2011/833/EU.
