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since this transferred part of the credit is guaranteed by the flemish region, the nmkn does not consider this loan as subordinated or risk­bearing.
como esta parte transferida del préstamo está garantizada por la región flamenca, nmkn no considera que este préstamo sea subordinado ni que implique un riesgo.

by letter dated 16 february 1994, the commission requested the belgian government to submit its comments on observations made by klesch & company limited which the commission received on 30 november 1993. that company had argued that it submitted an offer, subject to contract, to the receivers on 24 february 1993 for the same assets purchased by daf trucks nv. their offer was rebuffed because, in their view, the receivers wished to sell the assets to a govern­ment­led group below the market price. as regards the subordinated loan of bfrs 370 million, the flemish government argued that the loan was granted by the nmkn and not by the flemish region and is thus not paid from state resources and consequently cannot contain state aid.
respecto al préstamo subordinado de 370 millones de francos belgas, el gobierno de la región flamenca alegó que fue concedido por nmkn y no por la región flamenca, que no fue financiado con fondos públicos y que, por lo tanto, no encubre una ayuda de estado.