2006/740/EC: Commission Decision of 20 October 2004 implemented by Germany for Hamburgische Landesbank — Girozentrale, now HSH Nordbank AG (notified under document number C(2004) 3928) (Text with EEA relevance)

The state aid which Germany has implemented for Hamburgische Landesbank — Girozentrale, now HSH Nordbank AG, amounting to EUR 90,75 million in the period from 1 January 1993 to 1 June 2003 is incompatible with the common market.

Germany shall take all necessary measures to discontinue and recover from the beneficiary the aid referred to in Article 1 and unlawfully made available to it.

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 the Decision. The aid to be recovered shall include interest from the date on which it was at the disposal of the beneficiary until the date of its recovery. Interest shall be calculated in accordance with the provisions of Chapter V of Commission Regulation (EC) No 794/2004 .

Germany shall inform the Commission, within two months of notification of this Decision, of the measures which were taken and which it intends to take in order to meet the commitments described in this Decision.

This Decision is addressed to the Federal Republic of Germany.