Article 1
The following aid granted by the Treuhandanstalt and its successor, the Bundesanstalt für vereinigungsbedingte Sonderaufgaben, to SKET SMM is unlawful inasmuch as Germany failed to comply with its obligation under Article 93 (3) of the EC Treaty to inform thereof the Commission in good time: (a) the provision of counter-guarantees at an interest rate of 0,25 % a year instead of 3 % a year, taking into account any premiums paid; (b) the waiver of DM 80,3 million of debt in order to cover losses for 1994; (c) the waiver of an investment loan of DM 31,8 million in 1995; (d) the waiver of a liquidity loan of DM 65,6 million for 1994; (e) the waiver of a second liquidity loan for 1994 of DM 91,7 million; (f) a liquidity loan of DM 156,8 million to cover losses for 1995; (g) a liquidity loan of DM 20 million granted at the end of 1995; (h) liquidity loans of DM 75 million granted in 1996; (i) grants totalling DM 80 million awarded in 1996. The aid is incompatible with the common market within the meaning of Article 92 (1) of the EC Treaty and Article 61 (1) of the EEA Agreement and is covered by none of the provisions for exceptions and exemptions in Article 92 (2) and (3) of the EC Treaty and Article 61 (2) and (3) of the EEA Agreement.