Commission Decision of 6 November 2008 on State aid C 17/05 (ex N 194/05 and PL 34/04) granted by Poland to Stocznia Gdynia (notified under document C(2008) 6771) (Text with EEA relevance)

• Articles: 14

Article 1

The State aid described in recitals 209-232 of this decision and awarded by Poland in breach of Article 88(3) of the EC Treaty in favour of Gdynia Shipyard is incompatible with the common market.

Additionally, any advance payment guarantees granted by Poland in breach of Article 88(3) of the EC Treaty in favour of Gdynia Shipyard as of 1 July 2007 until the date of this decision are incompatible with the common market.

Article 2

With regard to the loans obtained from various public bodies referred to in recitals 209-232 of this decision, Poland shall recover aid in an amount equivalent to the difference between the interest rate actually paid by Gdynia Shipyard and the interest rate at which the recipient could have obtained the loan on the market for the period between the point in time when the said loans were granted and the point in time when they were repaid. In addition, if any loan is still outstanding by the time of this decision, it shall be repaid immediately.

Article 3

With regard to the guarantees obtained from the Treasury described in recitals 209-232 of this decision, Poland shall recover aid equal to the difference, for the period between the time when the aid was awarded and the time when the guarantee expired, between the interest rate actually paid by Gdynia Shipyard for the loan secured by virtue of the State guarantee and the interest rate at which the recipient could have obtained the loan on the market, equal to the amount guaranteed multiplied by the risk factor (probability of default), less the guarantee premium paid or equal to the difference between the guarantee premium paid by the recipient and the guarantee premium at which the recipient could have obtained the guarantee on the market. In addition, if any of these guarantees is open at the moment when this decision is taken, it shall be terminated immediately.

Article 4

With regard to the advance payment guarantees granted by the Export Credit Insurance Corporation described in recitals 209-232 of this decision, Poland shall recover aid equal to the difference, for the period between the time when the aid was awarded and the time when the guarantee expired, between the guarantee premium paid by the recipient and the guarantee premium at which the recipient could have obtained the guarantee on the market. In addition, if any of these guarantees is open at the moment when this decision is taken, it shall be terminated immediately.

Article 5

Articles 3 and 4 also apply mutatis mutandis to any advance payment guarantees granted by Poland in breach of Article 88(3) of the EC Treaty in favour of Gdynia Shipyard from 1 July 2007 to the date of this decision.

Article 6

With regard to non-enforced liabilities vis-à-vis various public bodies as described in recitals 209-232 of this decision, Poland shall recover aid equal to the difference, for the period between the time when the aid was awarded and the public-law liability was repaid, between the interest rate actually paid by Gdynia Shipyard and the interest rate at which the recipient could have obtained a deferment of maturity of its liabilities from a market economy creditor. In addition, any outstanding public-law liabilities shall be repaid immediately.

Article 7

With regard to write-offs of debt vis-à-vis public bodies as described in recitals 209-232 of this decision, Poland shall recover aid equal to the amount of the write-off.

Article 8

With regard to public-law liabilities restructured under the Act of 30 October 2002 on State aid to enterprises of special significance for the labour market, as amended, as described in recitals 209-232 of this decision, Poland shall recover aid equal to the amount of the public-law liability transferred to the Operator, less the actual value of the recipient’s assets transferred to the Operator.

Article 9

With regard to capital injections from various public bodies as described in recitals 209-232 of this decision, Poland shall recover aid equal to the full amount of the capital injected.

Article 10

With regard to direct grants as described in Table 4, recitals 209-232 of this decision, Poland shall recover aid equal to the full amount of the grants.

Article 11

1.   Poland shall recover the aid defined in the foregoing articles from the recipient. Recovery shall take place in accordance with the guidelines set out in recitals 384-401 of this decision.

2.   The amounts to be recovered shall bear interest from the day on which they were made available to Gdynia Shipyard until their actual recovery.

3.   Interest shall be calculated on a compound basis in accordance with Chapter V of Commission Regulation (EC) No 794/2004  ( 84 ) and of Commission Regulation (EC) No 271/2008  ( 85 ) amending Regulation (EC) No 794/2004.

4.   Poland shall cancel all outstanding payments of the aid referred to in Article 1 with effect from the date of adoption of this decision.

Article 12

1.   Recovery of the aid referred to in Article 1 shall be immediate and effective.

2.   Poland shall ensure that this Decision is implemented within 7 months of the date of notification of this Decision.

Article 13

1.   Within 2 months of notification of this Decision, Poland shall submit the following information to the Commission:

(a)

the total amount (principal and interest) to be recovered from the recipient;

(b)

a detailed description of the measures already taken and planned to comply with this Decision;

(c)

documents demonstrating that the recipient has been ordered to repay the aid;

(d)

documents demonstrating that all advance payment guarantees have been terminated.

2.   Poland shall keep the Commission informed of progress with the national measures taken to implement this Decision until all the aid referred to in Article 1 has been recovered. It shall immediately submit, at the request of the Commission, information on the measures already taken and planned to comply with this Decision. It shall also provide detailed information on the amounts of aid and interest already recovered from the recipient.

This Decision is addressed to Poland.

Schedules & Appendices

ANNEX

ANNEX

INFORMATION REGARDING THE IMPLEMENTATION OF THE PRESENT DECISION

1.    Calculation of the amount to be recovered

1.1.

Please provide the following details on the amount of unlawful State aid that has been made available to the recipient:

Date(s)  ( *1 )

Amount of aid  ( *2 )

Currency

Comments:

1.2.

Please explain in detail how the interest payable on the amount of aid to be recovered will be calculated.

2.    Measures planned and already taken to recover the aid

2.1.

Please describe in detail what measures are planned and what measures have already been taken to ensure the immediate and effective recovery of the aid. Please also indicate, where relevant, the legal basis for the measures taken/planned.

2.2.

What is the timetable for the recovery process? When will recovery of the aid be completed?

3.    Aid already recovered

3.1.

Please provide the following details on the amounts of aid that have been recovered from the recipient:

Date(s)  ( *3 )

Amount of aid repaid

Currency

3.2.

Please attach proof of repayment of the aid amounts specified in the table under point 3.1 above.

( *1 )   Date(s) on which (individual instalments of) the aid was made available to the recipient.

( *2 )   Amount of aid made available to the recipient (gross aid equivalent).

( *3 )   Date(s) on which the aid was repaid.