Companies Law

Subject to the Movable Property Security Law and other relevant laws, the personal creditor of a partner or shareholder may, in addition to the rights provided for in Article 33 of this Law, petition the competent judicial authority to: a) sell a sum of the partner’s interests enough to satisfy his debt. The other partners may recover such interests in accordance with the provisions of this Law; and b) sell a sum of the shareholder’s shares enough to satisfy his debt. The shareholders in an unlisted joint-stock company and a simplified joint-stock company shall, if provided for in the company’s articles of association, have a preemptive right to purchase the shares within 15 days from the date they are offered for sale. Part 2: General Partnerships Chapter 1: General Provisions