Judgment of the Court of Justice, Pafitis and Others, Case C-441/93 (12 March 1996)

According to the Court of Justice, in its judgment of 12 March 1996, in Case C-441/93, Pafitis and Others, Article 25 of the Directive on coordination of safeguards which are required by Member States of companies, pursuant to which any increase in capital must be determined by the general meeting, precludes national legislation under which the capital of a bank constituted in the form of a public limited liability company which, as a result of its debt burden, is in exceptional circumstances, may be increased by an administrative measure, without a resolution of the general meeting.

Source and copyright

Source: CVRIA. Case-law: Numerical access to the case-law. [ON-LINE]. [Luxembourg]: Court of Justice of the European Communities, [01.06.2006]. C-441/93. Available on http://curia.eu.int/en/content/juris/index.htm.

Copyright: (c) Court of Justice of the European Union

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