Financial Restructuring and Bankruptcy Law

Article 243 — Article (243) Collecting the Company's Debts from Partners and Shareholders

Part Four: Common Provisions · Chapter Two: Companies

1. With the exception of companies subject to preventive settlement proceedings, if any partners or shareholders are indebted to the company due to non-payment of the remainder of their shares in the capital or for any other reason, the Bankruptcy Court may entrust the trustee to follow up on collecting these debts and to represent the company in collecting the same, even if the company is subject to proceedings and maintains management of its assets and business. 2. In the event that a decision is issued to initiate bankruptcy proceedings, the Bankruptcy Court may authorize the trustee to demand from the partners or shareholders the unpaid amounts of their shares in the capital, even if the due date has not yet come. The Bankruptcy Court may order that this claim be limited to the amount necessary to repay the company's debts.

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