Traduction de «social creditor » (Anglais → Français) :

In fact, those measures grant an advantage to SNIACE by enabling it to reschedule its legal obligations relating to the payment of social security contributions and the debts contracted with FOGASA, which SNIACE would normally have had to fulfil if those creditors had been private creditors.

In its decision to initiate the procedure, the Commission considered that the comparison of the terms contained in the private creditors’ agreement of October 1996 with the terms of the rescheduling agreement between the social security authorities and SNIACE might not be the correct way of applying the ‘private creditor’ test, as defined by the Court of Justice.

The notion as recognised in the case law of the Court of Justice covers at least the following grounds: public policy, public security and public health, within the meaning of Articles 46 and 55 of the Treaty; the maintenance of order in society; social policy objectives; the protection of the recipients of services; consumer protection; the protection of workers, including the social protection of workers; animal welfare; the preservation of the financial balance of the social security system; the prevention of fraud; the prevention of unfair competition; the protection of the environment and the urban environment, including t ...[+++]own and country planning; the protection of creditors; safeguarding the sound administration of justice; road safety; the protection of intellectual property; cultural policy objectives, including safeguarding the freedom of expression of various elements, in particular social, cultural, religious and philosophical values of society; the need to ensure a high level of education, the maintenance of press diversity and the promotion of the national language; the preservation of national historical and artistic heritage; and veterinary policy.

As regards measure 2, the Spanish authorities point out that the Social Security Treasury, as a preferential creditor, took priority over ordinary creditors, being ranked immediately after creditors with guarantees and debts owed to the company’s staff.

5. Points out that the rules governing corporate governance are generally designed to maintain a duality of power within the collegiate decision-making body by distinguishing between management and supervisory functions so as to limit conflicts of interest but stresses that non-executive structures may, besides their monitoring task, also have vital advisory, mediating and networking functions, and a particular role in linking up with societal demands and general interest. These rules are also designed to strengthen the role and rights of shareholders, in particular through better information and financial transparency. However, the recent financial scandals and the way they have affected the system as a whole offer grounds for a broader ap ...[+++]proach to matters of corporate governance; requests therefore that, in addition to the interests of institutional or individual shareholders, which are dealt with in depth in the communication, the Commission should take explicit account of the interests of all other stakeholders (employees, creditors, clients, suppliers, etc.) in the various proposals it will be submitting as part of its action plan, giving particular weight to the principle of corporate social and environmental responsibility; emphasises that decent structures and practices of information and consultation of workers form an indispensable part of European corporate governance and is of the opinion that all European company law directives should contain obligations for information and consultation of employee representatives where major decisions are at stake for the continuity of firms and jobs.

Article 2(4) broadens the scope of application of the directive to all market participants and thus modifies the order of preferential creditors in the event of bankruptcy. This compromises companies' chances of recovery by transferring ownership of their assets to creditor banks, bypassing preferential creditors (employees, tax and social security bodies).