97/754/ECSC: Commission Decision of 30 April 1997 concerning the application to the steel firm Ferdofin Srl of Italian Law No 95/1979 on receivership arrangements for large firms in crisis (Only the Italian text is authentic) (Text with EEA relevance)

• Articles: 5

Article 1

The State aid which Ferdofin has received in the context of the application to it of Law No 95/1979, through suspension of the payment of the following debts:

(a) Lit 10 786 million owed to the INPS;

(b) Lit 723 million owed to the INAIL;

(c) Lit 2 301 million owed to the tax authorities;

(d) Lit 100 billion owed to banks controlled directly or indirectly by the State,

is illegal since it was granted in breach of Article 6 (2) of Decision No 2496/96/ECSC.

It is also incompatible with the common market for coal and steel in pursuance of Article 4 (c) of the ECSC Treaty.

Article 2

Italy shall recover the aid referred to in Article 1 in accordance with the provisions of Italian law relating to the recovery of amounts owed to the public authorities. In order to counteract the effects of the aid, interest shall be charged on the amount of the aid from the date on which it was granted until the date it is reimbursed. The interest rate applicable shall be that used by the Commission to calculate the net grant equivalent of regional aid schemes in the period in question.

Article 3

Italy shall forthwith cease to apply the provisions of Law No 95/1979 in respect of the failure by Ferdofin Siderurgica Srl to pay debts contracted with public bodies and enterprises.

Article 4

Italy shall inform the Commission, within two months of the notification of this Decision, of the measures taken to comply herewith.

Article 5

This Decision is addressed to the Italian Republic.

Done at Brussels, 30 April 1997.

For the Commission

Karel VAN MIERT

Member of the Commission

(1) OJ L 338, 28. 12. 1996, p. 42.

(2) OJ C 151, 25. 5. 1996, p. 10.

(3) See footnote 2.

(4) OJ C 368, 23. 12. 1994, p. 12.

(5) Administrative Court of Lazio, Section III, 30. 11. 1985, No 1986; Council of State, Section VILS, 29. 7. 1991, No 492.