§ 77 Effect of annulment

(1) If the annulment of a company has been entered in the Commercial Register, the provisions applicable to the winding up of a company apply accordingly to the winding up of its affairs.

(2) The effectiveness of legal transactions with third parties effected in the name of the company is not affected by the annulment.

(3) The shareholders are required to make the promised payments insofar as this is necessary in the fulfilment of liabilities which they have assumed.

Table of contents
Expert Notes for Legal Professionals
At this moment, a legal commentary is not yet available for this clause. We hope to help you by providing a translation of the wording of the law. Please contact us, if you would like to recommend a highly qualified author.
Previous Clause
§ 76 Remedying of defects by resolution passed by shareholders
Next Clause
§ 77a Appointment to organs of companies in which Federation holds majority stake
Footnotes