undertaking in difficulty

ABER, Article 2(59) First adopted 2022-12-14

Own text citing GBER, Article 2(18).

an undertaking fulfilling the criteria laid down in Article 2, point (18), of Regulation (EU) No 651/2014

GBER, Article 2(18) Partial reference adopted 2014-06-17, amended 2023-06-23

Own text citing Accounting Directive (not in this group).

an undertaking fulfilling in respect of which at least one of the criteria laid down following circumstances occurs: (a) In the case of a limited liability company (other than an SME that has been in existence for less than 3 years or, for the purposes of eligibility for risk finance aid, an SME that fulfils the condition in Article 2 21(3), point ( 18 b), and qualifies for risk finance investments following due diligence by the selected financial intermediary), where more than half of Regulation its subscribed share capital has disappeared as a result of accumulated losses. This is the case when deduction of accumulated losses from reserves ( and all other elements generally considered as part of the own funds of the company) leads to a negative cumulative amount that exceeds half of the subscribed share capital. For the purposes of this provision, ‘limited liability company’ refers in particular to the types of company mentioned in Annex I to Directive 2013/34/ EU of the European Parliament and of the Council and ‘share capital’ includes, where relevant, any share premium. (b) No 651 In the case of a company where at least some of its members have unlimited liability for the debt of the company (other than an SME that has been in existence for less than 3 years or, for the purposes of eligibility for risk finance aid, an SME that fulfils the condition in Article 21(3), point (b), and qualifies for risk finance investments following due diligence by the selected financial intermediary), where more than half of its capital as shown in the company accounts has disappeared as a result of accumulated losses. For the purposes of this provision, ‘a company where at least some of its members have unlimited liability for the debt of the company’ refers in particular to the types of company mentioned in Annex II to Directive 2013 / 2014 34/EU. (c) Where the undertaking is subject to collective insolvency proceedings or fulfils the criteria under its domestic law for being placed in collective insolvency proceedings at the request of its creditors. (d) Where the undertaking has received rescue aid and has not yet reimbursed the loan or terminated the guarantee, or has received restructuring aid and is still subject to a restructuring plan. (e) In the case of an undertaking that is not an SME, where, for the past two years: (1) the undertaking's book debt to equity ratio has been greater than 7,5 and (2) the undertaking's EBITDA interest coverage ratio has been below 1,0

Compared with ABER: struck words are only in ABER, marked words only here.

FIBER, Article 2(29) Partial reference adopted 2022-12-14

Own text citing GBER, Article 2(18).

an undertaking fulfilling the criteria laid down in Article 2, point (18), of Commission Regulation (EU) No 651/2014

Compared with ABER: struck words are only in ABER, marked words only here.

Rail and Inland Waterways BER, Article 2(w) Reference adopted 2026-03-16

Refers to GBER, Article 2(18).

an undertaking in difficulty as defined in Article 2, point (18), of Regulation (EU) No 651/2014