Article 232 of China’s new Company Law expressly specifies directors as liquidation group members, while article 238 stipulates their mandatory liquidation duties and associated liabilities. These substantive amendments to the obligations of liquidators have altered the application of liability standards and exemption criteria.
This article explores these legal developments through representative case studies, offering preliminary insights into the evolving regulatory landscape.
Liquidation obligors
Partner
Zhong Lun Law Firm
Article 232 of the new Company Law mandates that directors, as liquidation obligors, must form a liquidation group within 15 days of a dissolution event. The Changshu People’s Court of…
