|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.
|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 228Aug. 1, 2018|
At the close of each fiscal year, the board of directors shall prepare the following statements and records and shall forward the same to supervisors for their auditing not later than the 30th day prior to the meeting date of a general meeting of shareholders: "1.the business report; "2.the financial statements; and "3.the surplus earning distribution or loss off-setting proposals. "The financial statements and records as required in the preceding Paragraph shall be prepared in accordance with the rules prescribed by the central competent authority. "Supervisors may request the board of directors to provide in advance the financial statements and records for auditing as required in Paragraph I hereinabove.
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Provided by Kingdoms Law