Solidarity Fund - new for companies in difficulty

In order to benefit from the fund, a company that benefits from the debt remission under a CCSF plan must not be in legal liquidation on the 1st of March 2020. Being a firm in difficulty on the 31st of December 2019 does not cause the firm to lose the benefit of the fund, but obliges it to place itself under the de minimis aid scheme, which supposes that it keeps at the disposal of the tax authorities the supporting documents relating to the aid received.

If the company placed in safeguard or recovery proceeding before 31 December 2019 was already benefiting at that date from a safeguard or recovery plan, it is no longer considered to be a company in difficulty and may benefit from the fund provided that it complies with the condition relating to share capital.

When applying for aid, a company must indicate whether it was in difficulty on the 31st of December 2019, i.e. whether :

  • It was at that date in collective insolvency proceedings or eligible for collective insolvency proceedings (administration or compulsory liquidation proceedings)
  • At that date, its shareholders' equity had become less than half of the share capital.

 

Download the FAQ-Solidarity Fund

(details on companies in difficulty on page 15)

 

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