|Company Act Article 284Aug. 1, 2018|
Subject to the dismissal of the application as provided for in the preceding Article, the court shall, when it receives an application for reorganization, forthwith send copies of such application to the competent authority, the central authority in charge of end-enterprise concerned, and the authority in charge of securities affairs, and shall solicit their substantial opinions as to whether the reorganization shall be effected or not.
The court may also solicit the opinions on the proposed reorganization from the taxation authority and other relevant authorities at the locality of the company.
The authorities whose opinions are solicited by the court in accordance with the provisions of the preceding two Paragraph shall give their opinions within 30 days.
In case the applicants are shareholders or creditors of a company, the court shall send a notice with a copy of the application to the company.
|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.
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Provided by Kingdoms Law