2006/741/EC: Commission Decision of 20 October 2004 on State Aid implemented by Germany for Landesbank Schleswig-Holstein — Girozentrale, now HSH Nordbank AG (notified under document number C(2004) 3930) (Text with EEA relevance)

The state aid of €432,3 million which Germany granted to Landesbank Schleswig-Holstein Girozentrale, now HSH Nordbank AG, from 1 January 1999 to 31 May 2003 is incompatible with the common market.

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

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 recipient 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 .

Using the questionnaire set out in the Annex, Germany shall inform the Commission, within two months of notification of this Decision, of the measures taken to implement it.

This Decision is addressed to the Federal Republic of Germany.