Commission Decision of 30 September 2009 on a measure taken by Italy to rescue Sandretto Industrie srl (C 19/08 (ex NN 13/08)) (notified under document C(2009) 7184) (Text with EEA relevance)

• Articles: 5

Article 1

The State aid amounting to EUR 5 million which was granted by Italy and which was misused in that it remained at the disposal of Sandretto Industrie srl after 24 January 2008 is incompatible with the common market.

Article 2

1.   Italy shall recover the aid referred to in Article 1 from the beneficiary.

2.   The sums to be recovered shall bear interest from the date on which they were put at the disposal of the beneficiary until their actual recovery.

3.   The interest shall be calculated on a compound basis in accordance with Chapter V of Regulation (EC) No 794/2004 as amended  ( 14 ) .

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

Article 3

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

2.   Italy shall ensure that this Decision is implemented within four months following the date of notification of this Decision.

Article 4

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

(a)

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

(b)

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

(c)

documents demonstrating that the beneficiary has been ordered to repay the aid.

2.   Italy shall keep the Commission informed of the progress of the national measures taken to implement this Decision until recovery of the aid referred to in Article 1 has been completed. It shall immediately submit, on simple request by the Commission, information on the measures already taken and the measures planned in order to comply with this Decision. It shall also provide detailed information concerning the amounts of aid and interest already recovered from the beneficiary.

Article 5

This Decision is addressed to the Italian Republic.