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Glossary entry

Italian term or phrase:

debito da sottoscrizione

English translation:

amount payable on share subscription

Added to glossary by James (Jim) Davis
Feb 15, 2011 16:40
13 yrs ago
1 viewer *
Italian term

debito da sottoscrizione

Italian to English Bus/Financial Business/Commerce (general)
In a proposal of composition with creditors: "mandato, conferito dai creditori chirografici alla "Fondazione" come patto del concordato, di sottoscrivere un aumento di capitale dell'Assuntore, compensando i loro crediti, ridotti dalla falcidia concordataria, con *il debito da sottoscrizione*"

I think that the unsecured creditors' claims/receivables are being offset by the fact that they are effectively (through the Fondazione) underwriting the Assignee's capital increase. But I'm not sure why the phrase "debito da sottoscrivere" is used, or how to interpret it accurately?
Proposed translations (English)
4 +2 amount payable on share subscription
Change log

Feb 24, 2011 19:52: James (Jim) Davis Created KOG entry

Discussion

philgoddard Feb 15, 2011:
I think it just means "the amount subscribed for the capital increase".

Proposed translations

+2
49 mins
Selected

amount payable on share subscription

A share subscription agreement is usually a binding agreement to purchase and pay for shares issued at a future date, which may be within a few days or even years, where a company calls in "authorised shares" in tranches as it requires the capital. So basically the debt of the company in this case is reduced by the amount payable for the shares subscribed.

http://www.formacompany.com/en/ireland/ireland-companies-act...
Peer comment(s):
agree Thomas Roberts : I might prever "by virtue of" rather than "on", as "on" may suggest simultaneous payment, whereas your explanation mentions that this is not indeed a requirement
14 mins
Good point. What about plain ordinary "payable for share subscription"?
agree Dr Lofthouse
10 hrs
Something went wrong...
4 KudoZ points awarded for this answer. Comment: "Thanks. I went for something like "amount receivable by virtue of share subscription" in the end. "
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