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July 15, 2013|
The dissolution of a company can result in its termination
The company can be dissolved for a number of reasons:
The court may order the winding up of a partnership, a simple partnership or a joint participation (venture) at the request of one of the partners however, this must be a justifiable reason. Moreover, where the Memorandum is considered to be terminated, the company can be decreed dissolved. Dissolution can also be caused where a public joint stock company or a limited liability company suffers a loss of more than half their capital. In this case the matter must be referred to the General Assembly for decision. The winding up of a company, with the exception of a joint participation, should be published in two local daily Arabic newspapers and recorded in the Commercial Register.
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