The Italian Supreme Court recently ruled on payments for future capital increases (versamenti in conto futuro aumento di capitale). In particular, on 8 August 2023, the Supreme Court issued its judgment in case No. 24093, reiterating that the payments for future capital increases shall be deemed as not permanently acquired in the company's assets since they are aimed at releasing the debt arising from the subscription to a future capital increase. The Supreme Court also specified that, in order to qualify a payment as payment for a future capital increase, the party's intention to subordinate the contribution to a future capital increase must be assessed as clear and unequivocal. On 26 September 2023, the Supreme Court issued its judgement in case No. 39139, ruling that – in the context of a company crisis – the payment intended to cover future capital increases must be subject to a final term that is known to creditors. The payment will only be returned to the person who made it if the capital increase is not approved within that term, since creditors rely on the company's assets for the performance of the company's obligations.
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