# Commission Decision (EU) 2016/2057 of 2 May 2016 on the State aid and measures SA.29338 (2013/C-30) and SA.44910 (2016/N) in favour of HSH Nordbank AG (notified under document C(2016) 2689) (Only the German text is authentic) (Text with EEA relevance), Division 5.9

Extent: E+W+S+N.I.

[Cessation of new business upon a non-successful conclusion of the sale procedure] Where the sale procedure by the end of the sale deadline does not result in aid-free offers with a positive offer price (while maintaining the guarantee), or the Commission concludes the viability assessment pursuant to point 5.6 with the conclusion that the integration of OpCo into the new company structure will not lead to a long-term viable business model, OpCo will cease its new business and, as far as legally possible, administer its assets with the objective of an orderly wind-down. In that case the following continue to be permitted:
(a) restructuring of existing loans in order to maintain value, provided that those loans fall under the management of problem loans;
(b) business necessary for OpCo's cash management, with the exception of the acceptance of new deposits, including new deposits by existing customers; the rolling over of maturing deposits on the same terms remains permissible;
(c) prolongations which are necessary to avoid losses, provided that they offer significantly better prospects of final realisation;
(d) derivative transactions which are necessary in order to manage interest-rate, currency and credit risks in the existing portfolio and result in a reduction of OpCo's overall market risk position;

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Source: https://www.legislation.gov.uk/eudn/2016/2057/annex/I/division/5/division/5.9 (the official version)
Page: https://openlegislation.uk/eu-decision-2016-2057/annex-I/division-5/division-5.9
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.