Companies Law

1. Subject to the restrictions included in the liquidator’s appointment decision, the liquidator shall represent the company before the judiciary, arbitration tribunals, and other parties, and shall carry out all the activities necessary for the liquidation. He shall, in particular, convert the company’s assets into cash, including the sale of movables or real property through an auction or any other method ensuring the best price. 2. The liquidator may, if authorized by the authority appointing him, sell all company assets in a single transaction or offer such assets as a share in another company. 3. The liquidator may not start new business activities for the company unless required for the completion of previous activities. 4. The company shall be bound by the liquidator’s acts falling within his powers. 5. The liquidator’s powers shall terminate upon the completion of the liquidation or upon the expiration of the liquidation period, whichever is earlier, unless such period is extended in accordance with the provisions of this Law. Companies Law