Dissolution is the process of de-registering a company from the company registry at the Department of Business Development (“DBD”). When considering the life cycle of a business operation, the voluntary dissolution by the shareholders appears to be the usual way to end the company’s operations. There are several circumstances that will lead companies to the dissolution and subsequently, the liquidation process. Under Sections 1236 and 1237 of the CCC, a limited company may be dissolved by the following causes:

Introduction

Where a British Virgin Islands company is struck off the register, its directors and members cannot carry on the company's affairs, commence or defend legal proceedings in the name of the company, or deal with the assets of the company.

近年来，早期设立的一批外商投资企业的经营期限将近届满，同时根据原《中华人民共和国中外合资经营企业法》设立的中外合资企业的公司治理结构的弊端也日益凸显，而部分外商投资企业形成已久的公司僵局也始终不见破局之法，因此外商投资企业的解散和清算已经成为外国投资者所关注的热点话题。

《中华人民共和国外商投资法》（“《外商投资法》”）及其实施条例已经从今年1月1日开始实施，但新的法律、法规并未在内容上对外商投资企业解散和清算这一问题进行强调或注解。而随着“三资法”的废除，以公司形式设立的外商投资企业的解散和清算自然需要适用《中华人民共和国公司法》（“《公司法》”）第十章“公司解散和清算”的规定。而事实上，在《外商投资法》实施之前，外资企业在解散、清算方面已经适用了《公司法》的相关规定，只是在操作流程上较内资企业有所不同。

然而《公司法》对于解散清算的规定过于宽泛，而最高院有关企业解散清算的司法解释在实操层面又存在诸多难点和不确定性，导致外国投资者在寻求以解散清算方式撤离时面临重重困境。笔者拟通过本文对于外商投资企业解散和非破产清算一般路径以及可能面对的困难进行简要分析，从而希望对投资者在设立外商投资企业并签订相应股东协议时有所参考和提示。

The Business Continuity Act of 31 January 2009 (the "Act") creates a variety of flexible tools to promote business recovery. This update focuses on the new judicial (i.e., court-supervised) reorganisation proceedings (as opposed to out-of-court workouts and court-supervised sales of the business).

Simplified access to proceedings

On December 10, 2016, Ontario’s Forfeited Corporate Property Act, 2015 (the FCPA), comes into force,1 along with related amendments to the Ontario Business Corporations Act (the OBCA).

Voluntary liquidation or Strike-off? - Alternatives to voluntarily achieving the conclusion of operations and dissolution of Cayman companies

The Exempted Limited Partnership (Amendment) Law, 2009, which was enacted in March 2009 and is expected to come into effect before the end of April 2009, has made significant changes to the regime for the winding up and dissolution of exempted limited partnerships (“Partnerships”). The opportunity has also been taken to clarify certain other provisions of the Exempted Limited Partnership Law (2007 Revision) (“ELP Law”).  

Winding Up and Dissolution  

Changes to Hungarian bankruptcy law mean that priority will be given to creditors who pledge property as security or collateral. Minor changes to Hungarian corporate legislation require companies to list specific court registration information on their official correspondence and websites.

Introduction

Introduction

There are two principal regimes for corporate insolvency in Jersey: désastre and winding-up. This Briefing seeks to highlight the major features of each and some of the differences between the two.  

Désastre

The law of désastre arose out of the common law of Jersey, although since 1991 the common law has only applied to the extent that express provision is not made in the Bankruptcy (Désastre) (Jersey) Law 1990 (the "Désastre Law").

Who may commence the process?

Key changes proposed in the new Rehabilitation and Bankruptcy Law affect involuntary petitions for bankruptcy, invalidations, trustees' avoidance powers, debtors' dissolution, and priority of claims.