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LawTreeSectionID=13103&language=en&lawId=3984

Article 298 

 The liquidation shall be carried out by one or more liquidator(s) appointed by


the partners or by the general assembly with the usual majority whereby
company decisions are issued. If the liquidation is effected by a court decree, the
court shall define the method of liquidation and appoint the liquidator.

In all cases, the functions of the liquidator shall not end as a result of the death of
the partners or their bankruptcy, insolvency or sequestration, even if he was
appointed by them. The liquidator shall receive a remuneration to be determined
in the letter of his appointment, otherwise the court shall decide on the same.

Article 299 

 The liquidator shall declare the decision of his appointment, the limits imposed
on his authorities, the agreement of the partners or the decision of the general
assembly as to the method of liquidation or the judgment issued in this regard,
using the same method prescribed for amending the Articles of Association of
the company or its Memorandum. The appointment of the liquidator or the
method of liquidation shall be binding upon the third parties with effect from the
date of declaration.

Article 300 

 Should there be more than one liquidator, their actions shall be valid only with
unanimous approval, unless otherwise provided for in their appointment
instrument by the appointing authority.

Liquidators shall be collectively liable for damage caused to the company,


partners and others by acts in which they exceeded their jurisdiction or if such
damage is due to the failure to carry out their duties.

Article 301 

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