On 13 July 2011 after an in-depth investigation, the Commission concluded that the Bulgarian metal manufacturer Ruse Industry, now in bankruptcy proceedings, has received subsidies in the form of unpaid debts to the State of around €3.7 million. The company has been in difficulties for several years. In June 2009, the Bulgarian authorities notified the Commission of plans to restructure Ruse Industry and its debt. In April 2010, the Commission opened an in-depth investigation. The notified restructuring was withdrawn by Bulgaria in November 2010, but the Commission has continued its investigation into the aid involved in view of the State’s failure to enforce its debt in previous years. On 11 November 2010, the Bulgarian authorities filed for bankruptcy proceedings against Ruse Industry. The Commission believes that Ruse Industry benefitted from state aid as a private creditor would have sought the repayment of the debt sooner and more effectively. This creates distortions of competition vis à vis other companies, who had to operate their businesses without such support and were subject to the discipline of credit markets. In order to remedy this distortion, the aid to Ruse Industry should be recovered. Read more