Article 481 — Duties and Liabilities of Liquidators

1/ Unless otherwise provided by law or memorandum of association, the liquidators shall have the same duties and liabilities as directors. 2/ The liquidators shall take possession of the property and books of the company; the directors shall prepare a report for the liquidators on the management of the company from the end of the last financial year to the commencement of the winding-up. 3/ The liquidators and directors shall jointly prepare and sign an inventory of assets and liabilities. 4/ Where the assets appear to be insufficient to cover the debts of the company, the liquidators shall call upon the shareholders to make contribution that may be still due on their shares, if any.