sas dissolution effects

What are the effects of the dissolution of an SAS?

Dissolve a SAS leads to implications. There is some for the company (which finds itself in the process of liquidation) but also for the managers and shareholders. Communication measures allow the news to be passed on to third parties. Foundation-company-ricard provides an explanation for the request what are the consequences of the dissolution of an SAS ?

Effective date of the dissolution of the SAS

La date of implementation of the dissolution depends on reason leading to the closure of the SAS. Thus, it may be the data to which:

  • The duration provided for in the articles of association has expired (we speak of a "term"),
  • An event provided for by the articles of association and terminating the company has occurred,
  • The corporate purpose has been achieved or has been cancelled,
  • A court ordered the compulsory liquidation of the company,
  • The partners voted for the voluntary early dissolution,
  • The judges pronounced the cancellation of the social contract,

Effects of dissolution of the SAS

Once the dissolution of the Joint stock company ratified, it is immersed in a liquidation phase who can be insurance or judicial. In the first case, the company must have sufficient capital to meet its obligations. In the second, it is declared in state of insolvency, and only a court can decide.

La juridic people for the SAS remains for the execution of the liquidation. A liquidator, appointed by the partners, will carry out an inventory, sell the assets and take care of the repayment of the liabilities.

Finally, the SAS will be deregistered from Trade and Companies Register (RCS) by the partners on request to the Registry of the Commercial Court.

Consequences of the dissolution of an SAS on the corporate officers

The entry of the SAS into the dissolution process involves theinterruption of activities of leaders. Thus, the chairman and the general manager find themselves lacking of their functions.

Le liquidator named retrieves the attributions of the administrators. He is the representative of the company being dissolved and the recipient of correspondence. He must therefore make reports to shareholders during the process and at the end with the presentation of the final dissolution accounts. The partners release him from his duties when they decide to close the liquidation.

Consequences for shareholders following the dissolution of a simplified joint stock company (SAS)

When an SAS is dissolved, it must stop immediately any activity. Partners must ensure that this shutdown is complete. Otherwise, it is considered to be a separate legal person: a de facto partnership.

The partners must then:

  • Approve liquidation accounts,
  • Give discharge to the liquidator,
  • And pronounce the closing of the liquidation.

Moreover, if there is a rest after settlement of the debts, the partners may, under certain conditions, recover. It is then a question of proceeding to the division of equity. Finally, it is up to them to carry out (except delegation of power), the deletion of the RCS of SAS.

Consequences for third parties in the event of dissolution of an SAS

Any interested person must be informed of the dissolution of an SAS. To do this, the law requires the publication of a legal notice in a newspaper authorized to publish it. It is customary to publish two people announcements: the first is used to announce the dissolution of the SAS and the second to indicate the final liquidation.

In addition, the SAS must mention "company in liquidation" after its trading name in all its correspondence.

The extinction of the SAS is opposable to third parties when the registry of the commercial court has carried out the delisting from the company.

 

Want to close your business? Use our partner service: I close online!

 

You will also find information on the subject of the dissolution – liquidation of an SAS:

About the Author

Leave comments

Your email address will not be published. Required fields are marked with *

Back to top