|Company Act Article 283-1Aug. 1, 2018|
Under any of the following circumstances, an application for reorganization shall be dismissed by the court: "1.Where the application is not filed in accordance with the proper procedure provided, however, that if the improper filing procedure can be rectified, the applicant shall be ordered to take corrective action; "2.Where the company has not made public issuance of shares or corporate bonds; "3.Where the company has been adjudicated bankrupt by a final ruling; "4.Where the settlement resolution made by the company in accordance with the Bankruptcy Law has become final; "5.Where the company has been dissolved; or "6.Where the company has been ordered to wind up and to liquidate within a given time limit.
|Company Act Article 283Aug. 1, 2018|
The application for reorganization of a company shall be filed to the court in writing in five copies by the applicant(s) and shall state therein the following particulars:
1. The name and domicile or residence of the applicant and a statement on the status of the petitioner as such; in case the applicant is a juristic person, or an organization or agency, the title, the business place of office of the applicant;
The matters as required in Items 5 through 7 of the preceding Paragraph may be supplemented by attachments. "In case the application is filed by the company, a substantial reorganization proposal shall be submitted. In case the application is filed by shareholders, creditors, labor unions or employees employed by the company, the documents identifying the qualification of the applicants shall be filed along with the application, but particulars as required in Items 5 and 6 of Paragraph I under this Article need not be stated.
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Provided by Kingdoms Law