2005/374/EC: Commission Decision of 20 October 2004 on a State aid measure implemented by Germany for Kvaerner Warnow Werft (notified under document number C(2004) 3921) (Text with EEA relevance)

State aid granted by Germany for the benefit of Kvaerner Warnow Werft GmbH amounting to EUR 13293077 (DEM 25999000) is incompatible with the common market.

1 Germany shall take all necessary measures to recover from the beneficiary the aid referred to in Article 1, which was unlawfully available to the beneficiary.

2 Recovery shall be effected without delay and in accordance with the procedures of national law provided that they allow the immediate and effective execution of this decision.

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

4 The interest rate to be applied will be the reference rate used for calculating the grant equivalent of regional aid and that is applicable on the date on which the aid was first put at the disposal of the beneficiary.

5 The interest rate referred to in paragraph 4 will be applied on a compound basis throughout the entire period referred to in paragraph 3. However, if more than five years have elapsed between the date on which the aid was first put at the disposal of the beneficiary and the date of recovery, the interest rate shall be recalculated at five yearly intervals, taking as a basis the reference rate in force at the time when the rate is recalculated.

Germany shall inform the Commission, within two months of notification of this decision, of the measures planned and already taken to comply with it. This information must include the information required by the form attached in the Annex.

This decision is addressed to the Federal Republic of Germany.