Monday 31 January 2022

European Union: Court of Justice considers meaning of 'subscribed share capital'

Judgment was given last week in Zinātnes parks (Structural Funds - Concepts of 'subscribed share capital' and 'undertaking in difficulty' - ERDF - Judgment) [2022] EUECJ C-347/20. The Court of Justice held that the expression 'subscribed share capital', for the purposes of Article 2(18)(a) of Commission Regulation (EU) No 651/2014 and the question of whether a company was 'in difficulty', should be interpreted as meaning all contributions which current or future members or shareholders of a company have made or have irrevocably undertaken to make.

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