Companies Law

1. The company’s manager or board members shall provide the liquidator upon his appointment with the company’s records and documents as well as any clarifications and data requested thereby. 2. The liquidator shall, within 90 days from the date of assuming his duties, prepare an inventory of the company’s assets, rights, and liabilities, and shall request the company’s auditor, if any, to issue a report on said inventory. The authority appointing the liquidator may extend such period, if necessary. 3. At the end of each fiscal year, the liquidator shall prepare financial statements and a liquidation report which shall include his remarks and reservations concerning the liquidation proceedings, the causes of obstruction or delay of such proceedings, if any, and his recommendations regarding the extension of the liquidation period. The liquidator shall provide the Commercial Register with a copy of said documents and shall present them to the partners, general assembly, or shareholders for approval, in accordance with the company’s articles of incorporation or articles of association.