When should the manger in the limited liability company present the company’s solution to the general assembly?
Article No. 301 of Federal Law No. 2 of 2015 regarding commercial companies – it has been stipulated that (1) if the losses of the limited liability company amount to half of the capital, the managers must present to the general assembly of the partners the order to dissolve the company, and for the issuance of the dissolution decision a majority Necessary to amend the company contract.
(2) If the loss reaches three quarters of the capital, the partners in possession of a quarter of the capital may request dissolution – and then the rule of this article does not extend to the case in which all the company’s capital perishes, as the dissolution of the company in this last case is subject to the text of the article 295 of the same above-mentioned law that mentioned the rules for dissolving companies in general, including the case of the loss of all or most of the company’s funds if it is not possible to invest the rest of a meaningful investment which was dealt with in the text of the third paragraph of that article, and it is decided that the company will end with the loss of all of its funds or the largest part From them so that there is no benefit left from the continuation of the company and so that its survival is a useless matter due to the end of the purpose for which the company was established and the end of the reason for its existence.
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