Commercial Companies Law

Commercial Companies Law — Article 41

The company shall be considered dissolved by virtue of law from the date of the shareholders’ agreement, adoption of a resolution of extraordinary general meeting or the issuance of a final judicial judgement, as the case may be, in accordance with the reasons set forth in Article 40 of this Law. Upon its dissolution, the company shall enter the phase of liquidation and shall retain its legal personality to the extent necessary for the liquidation purposes and the expression “under liquidation” shall be added to its name during the period of liquidation.

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