restructuring measure in the shipbuilding sector

Letter of Intent | Letter of intent on Measures to facilitate the Restructuring of the European Defence Industry | LoI [Abbr.]

industrial restructuring [ industrial change | restructuring plan | Enterprise restructuring(ECLAS) | Industrial adaptation(ECLAS) ]

troubled debt restructuring [ debt restructuring | loan restructuring | restructuring of troubled debt ]

Atlantic Fishery Restructuring and Adjustment Measures

procedural witness protection measure | procedural protective measure for witnesses | protective measure for witnesses at trial | procedural protection measure | procedural measure

immediate measure (1) | urgent measure (2) | emergency measure (3) | prompt measure (4)

The Portuguese authorities have further committed to additional restructuring measures for Novo Banco, in particular a deepening of the bank's operational restructuring as well as of the bank’s ongoing efforts to focus on its core activities and decrease gradually its activity in business units and geographies which are considered non-core.

On 26 January 2012, the Commission decided (5) to temporarily approve the recapitalisation measure of LVL 70,2 million granted on 23 March 2010, a recapitalisation measure of LVL 50 million granted to the bank at the end of 2011 (granted as a liquidity measure to be converted into capital), a standby liquidity facility of up to LVL 250 million for the bank, guarantees to international creditors of the commercial segment of MLB of up to LVL 32 million and liquidity support of up to LVL 60 million for the solvent liquidation of the bad assets within HipoNIA, an asset management company owned and financed by MLB, and to initiate the procedure laid down in Article 108(2) of the Treaty on the Functioning of the European Union (‘the Treaty’) in r ...[+++]espect of those measures in so far as they were needed for the restructuring of the commercial segment of MLB (‘restructuring measures’) and benefitted its development segment and in respect of the transformation plan of MLB (6) (‘the opening decision’).The Commission had doubts as to the compatibility of the restructuring measures with the internal market in the light of the Commission's Communication on the return to viability and the assessment of restructuring measures in the financial sector in the current financial crisis under the State aid rules (7) (‘the Restructuring Communication’).

On 11 October 2010, the Commission decided to initiate the procedure laid down in Article 108(2) of the Treaty on the Functioning of the European Union (‘the Treaty’) with regard to the restructuring plan for EBS submitted by Ireland (‘the Opening Decision’) (7), since the Commission had doubts as to the compatibility of that restructuring plan and the associated aid measures with the internal market in the light of the Commission's Communication on the return to viability and the assessment of restructuring measures in the financial sector in the current financial crisis under the State aid rules (8) (‘the Restructuring Communication’).

They are therefore asking the government to review the restructuring measures and to adjust these measures to the specific needs of the Magdalen Islands.