English
1/ the dissolution of a one person private limited
company that has settled all its debts and obligations
shall result in the universal assignment of all the
assets of the company to the member without
liquidation of assets taking place.
2/ The member shall be personally liable for all the debts
and obligations of the company if creditors appear
after the dissolution has taken effect.
3/ Claims under Sub-Article
(2) of this Article shall be
barred after five years from the date on which the
aggrieved party knew of the dissolution. No legal
action can be lodged after ten years from the date
when the transfer of the assets of the company to the
member took place.
4/ Notwithstanding the provisions under Sub-Articles (1),
(2) and
(3) of this Article, the member may choose to
follow the normal route of liquidation upon the
dissolution of the company.
