Key takeaways
Minimum share capital and microenterprise structure are per se not sufficient to justify security for costs under Art. 69(4) UPCA and Rule 158.1 RoP
The Court held that (i) claimant’s minimum share capital of EUR 19,700 and (ii) its microenterprise structure were in themselves insufficient circumstances to assess a company’s financial soundness. A relatively modest share capital can be accompanied by substantial equity. In this case, the valuation expressed by the market was 1,400 times higher than the share capital which made the risk that the share capital may be impaired very remote (p. 4).
The Court made a profound assessment of gross profits, growth trends, total current assets, trade receivables and debts (p. 5) hereby applying established CoA standards regarding burden of proof (p. 3 et seq. with further references).
For practice: Applicant must provide a detailed, analytical assessment of the claimant’s overall financial situation to substantiate a legitimate and real concern. Relying on isolated financial aspects is insufficient.
Division
Local Devision Milan
UPC number
UPC_CFI_2216/2025
UPC_CFI_1829/2026
Type of proceedings
Application for security for costs (R. 158.1 RoP)
Parties
Claimant: Biopsafe ApS
Defendant: Kaltek S.r.l.
Patent(s)
EP 2 720 617 B2
EP 3 061 401 B1
EP 3 653 132 B1
Jurisdictions
UPC
Body of legislation / Rules
R. 158.1 RoP
Art. 69(4) UPCA
