Registration of dissolution and termination of liquidation of foreign companies <외투법인 폐쇄>

Registration of dissolution and termination of liquidation of foreign companies   <외투법인 폐쇄>

 

 

In order for a foreign company to close its business, it must register for dissolution and liquidation.

It is indicated in the Commercial Law that the corporate identity of the company is not immediately extinguished by the dissolution, but that the corporate identity remains within the scope of the purpose of liquidation.

Therefore, only when the liquidation procedure is finished, the legal personality of the foreign company is completely extinguished.

A foreign company becomes a liquidation corporation and continues within the scope of liquidation after the company's commercial purpose is reduced to the scope of the liquidation purpose due to its dissolution.

Therefore, the shareholders not only can participate in the resolutions of the general shareholders' meeting, they also have the right to claim the distribution of residual assets and the right to request dismissal of the liquidator.

Meanwhile, a director at the time of dissolution is naturally a liquidator if there are other provisions in the articles of incorporation or if a liquidator is not separately appointed at the general shareholders' meeting.

And even if the term of office expires at the time of dissolution or after that, the liquidator shall have the right and duty as a liquidator until a new liquidator is appointed and takes office.

Once dissolved, the company registers the dissolution and the inauguration of the liquidator. After that, the registration of continuing the company and the change or abolition of the duration of the company must be registered. At the same time as the abolition of the period of existence, the company must not be continuously registered.

 

 

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