UAE Civil Transactions Law

Article 632

Book Two: Nominate Contracts · Section One: Contracts of Transfer of Ownership · Chapter Five: Company Contract · Part One: General Provisions · Seventh: Liquidation and Division of the Company

1. The liquidation shall be carried out, where applicable, either by all the partners or by one or more liquidators appointed by a majority of the partners. 2. If the partners do not agree on the appointment of the liquidator, the court shall appoint one upon the request of one of them. 3. In cases where the company is void, the court shall appoint the liquidator and determine the method of liquidation upon the request of the interested parties. 4. The manager(s) of the company shall be deemed liquidators, vis-à-vis third parties, until a liquidator is appointed.

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