Dissolution and liquidation

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DISSOLUTION AND LIQUIDATION

 According to Article 101 of the Code of Public Companies with Public Participation, the company is terminated automatically by:
• expiry of its term, subject to extension;
• the realization or extinction of its corporate purpose;
• Cancellation of the Company's contract;
• Early dissolution decided by the shareholders or pronounced by the court at the request of a shareholder, for proper grounds;
• Liquidation judgment of the company;
• Sale of all its assets;
• Any other cause provided for in the statutes;
The combining of all the shares in one hand does not result in the dissolution of the company, unless the company has not corrected its situation within a period of one year, either by reconstituting the number of shareholders, or by turning into a Unipersonal Company.


PROCEDURE OF RADIATION OF A COMPANY

To proceed with the voluntary liquidation of a company, one sends a letter of request of liquidation of the company to the President of the Trade Tribunal.
The following elements must be attached to the request:
• A clearance certificate issued by OBR,
• Minutes of the General Assembly deciding the liquidation of the company,
• A copy of the statutes of association,
• The original of the Trade Registry Certificate.

 

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