2012/541/EU: Commission Decision of 22 February 2012 on the State aid SA.26534 (C 27/10 ex NN 6/09) implemented by Greece in favour of United Textiles S.A. (notified under document C(2011) 9385) Text with EEA relevance
Data as of 2026-07-04 · Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗
1. The State aid granted by Greece in breach of Article 108(3) of the Treaty on the Functioning of the European Union, in favour of United Textiles S.A., in the form of a 2007 State guarantee and a rescheduling of overdue social insurance obligations in 2009, is incompatible with the internal market. 2. The 2010 State guarantee does not constitute aid within the meaning of Article 107(1) of the Treaty on the Functioning of the European Union.
1. Greece shall recover the aid stipulated in Article 1, paragraph 1, from the beneficiary. 2. The sums to be recovered shall bear interest generated 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 Commission Regulation (EC) No 794/2004 ( 25 ) . 4. Greece shall cancel all outstanding payments under the aid stipulated in Article 1, paragraph 1, with effect from the date of notification of this decision.
1. Recovery of the aid referred to in Article 1, paragraph 1, shall be immediate and effective. 2. Greece shall ensure that this decision is implemented within four months following the date of notification of this Decision.
1. Within two months following notification of this Decision, Greece shall submit the following information to the Commission: (a) the total amount (principal and recovery interests) to be recovered from the beneficiary; (b) a detailed description of the measures already taken and planned to comply with this Decision; (c) documents demonstrating that the beneficiary has been ordered to repay the aid. 2. Greece shall keep the Commission informed of the progress of the national measures taken to implement this Decision until recovery of the aid stipulated in Article 1, paragraph 1, has been completed. It shall immediately submit, on simple request by the Commission, information on the measures already taken and planned to comply with this Decision. It shall also provide detailed information concerning the amounts of aid and recovery interest already recovered from the beneficiary
This Decision is addressed to the Hellenic Republic.
Source: EUR-Lex (Publications Office of the EU), © European Union, reuse permitted under Commission Decision 2011/833/EU.