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Structural division: books › CHAPTER ONE
Article 805 — Liability of Shareholders
New Ethiopian Commercial Code Proclamation No. 1243 2021 English Version
Article text
Subject to liability incurred as de facto managers under Article 803 of this Code, shareholders of the debtor shall only be liable towards creditors of the debtor where the shareholders:
1/ have committed fraud; or
2/ acting in their own interest, have given instructions to the management, leading to the cessation of payments of the debtor.