COMMISSION DECISION
of 20 October 2004
implemented by Germany for Hamburgische Landesbank — Girozentrale, now HSH Nordbank AG
(notified under document number C(2004) 3928)
(Only the German text is authentic)
(Text with EEA relevance)
(2006/740/EC)
I. PROCEDURE
II. DETAILED DESCRIPTION OF THE MEASURES
III. GROUNDS FOR INITIATING THE PROCEDURE
IV. COMMENTS FROM GERMANY
V. COMMENTS FROM THE BDB
VI. GERMANY'S RESPONSE TO THE BDB'S COMMENTS
VII. UNDERSTANDING BETWEEN THE BDB, FHH AND HSH
VIII. ASSESSMENT OF THE MEASURES
1. ON THE GENERAL QUESTION OF THE LIMITATION PERIOD
2. STATE AID WITHIN THE MEANING OF ARTICLE 87(1) OF THE EC TREATY
2.1 State resources and favouring of a particular undertaking
(a) Market-economy investor principle
(b) Article 295 of the EC Treaty
(c) Ownership structure
(d) Remuneration and elements of remuneration for the contribution of DEM 659,4 million to HLB's capital reserve
(e) Remuneration for the silent partnership contribution
(f) Date as of which aid no longer present
(g) Aid element
(5 months) |
|||||||||||
|
1993 |
1994 |
1995 |
1996 |
1997 |
1998 |
1999 |
2000 |
2001 |
2002 |
2003 |
Amount of silent partnership contribution available to HLB |
300,0 |
300,0 |
300,0 |
300,0 |
300,0 |
300,0 |
300,0 |
300,0 |
300,0 |
300,0 |
300,0 |
Remuneration payable (1,29 %) |
|
|
|
|
3,9 |
3,9 |
3,9 |
3,9 |
3,9 |
3,9 |
1,6 |
Guarantee commission payable (0,3 %) |
0,9 |
0,9 |
0,9 |
0,9 |
|
|
|
|
|
|
|
Paid |
30,0 |
30,0 |
30,0 |
30,0 |
[...] |
[...] |
[...] |
[...] |
[...] |
[...] |
[...] |
Overpaid (= imputable against capital reserve) |
29,1 |
29,1 |
29,1 |
29,1 |
[...] |
[...] |
[...] |
[...] |
[...] |
[...] |
[...] |
Company taxes |
50,00 % |
50,00 % |
50,00 % |
50,00 % |
50,00 % |
50,00 % |
50,00 % |
50,00 % |
50,00 % |
50,00 % |
50,00 % |
Less tax |
-14,6 |
-14,6 |
-14,6 |
-14,6 |
[...] |
[...] |
[...] |
[...] |
[...] |
[...] |
[...] |
Recoverable overpayment after tax |
14,6 |
14,6 |
14,6 |
14,6 |
[...] |
[...] |
[...] |
[...] |
[...] |
[...] |
[...] |
Amount of capital reserve from WK 1993 available to HLB |
659,4 |
659,4 |
659,4 |
659,4 |
659,4 |
659,4 |
659,4 |
659,4 |
659,4 |
659,4 |
659,4 |
Finally recognised by BAKred |
0,0 |
0,0 |
0,0 |
0,0 |
659,4 |
659,4 |
659,4 |
659,4 |
659,4 |
659,4 |
659,4 |
of which not usable as liable capital |
0,0 |
0,0 |
0,0 |
0,0 |
[...] |
[...] |
[...] |
[...] |
[...] |
[...] |
[...] |
of which used/usable as liable capital (GS I-Anrechnung) (as of 1997) |
182,9 |
435,6 |
255,1 |
208,3 |
[...] |
[...] |
[...] |
[...] |
[...] |
[...] |
[...] |
of which not used/not usable as liable capital (as of 1997) |
476,5 |
223,7 |
404,2 |
451,1 |
[...] |
[...] |
[...] |
[...] |
[...] |
[...] |
[...] |
Remuneration payable (6,57 %) |
12,0 |
28,6 |
16,8 |
13,7 |
[...] |
[...] |
[...] |
[...] |
[...] |
[...] |
[...] |
Guarantee commission payable (0,15 %) |
0,7 |
0,3 |
0,6 |
0,7 |
[...] |
[...] |
[...] |
[...] |
[...] |
[...] |
[...] |
Total remuneration payable |
12,7 |
29,0 |
17,4 |
14,4 |
[...] |
[...] |
[...] |
[...] |
[...] |
[...] |
[...] |
Recoverable overpayment from silent partnership contribution |
14,6 |
14,6 |
14,6 |
14,6 |
[...] |
[...] |
[...] |
[...] |
[...] |
[...] |
[...] |
Aid element |
|
|
|
|
|
|
|
|
|
|
|
|
-1,9 |
14,4 |
2,8 |
-0,2 |
[...] |
[...] |
[...] |
[...] |
[...] |
[...] |
[...] |
2.2 Distortion of competition and effect on trade between Member States
2.3 Finding
3. COMPATIBILITY WITH THE COMMON MARKET
IX. CONCLUSION
Article 1
Article 2
Article 3
Article 4
Article 5
ANNEX
INFORMATION REGARDING THE IMPLEMENTATION OF THE COMMISSION DECISION
1. Calculation of the amount to be recovered
Date(s) of payment(1) |
Amount of aid(2) |
Currency |
Identity of recipient |
|
|
|
|
|
|
|
|
|
|
|
|
2. Recovery measures planned or already taken
3. Recovery already effected
Date(s)(3) |
Amount of aid repaid |
Currency |
Identity of recipient |
|
|
|
|
|
|
|
|
|
|
|
|