The Civil Liability of a Liquidator for the Collection and Payment of Company's Debts

Abstract

When issuing a liquidation order, the company is closed and its founding contract is terminated in two cases: if this liquidation is done voluntarily by the agreement of the partners or mandatory by the competent court. Then one or more liquidators are appointed to manage the company and its activities that require liquidation, in order to terminate the company and end its business. The Jordanian Companies Law No. 22/1997 regulates the provisions of liquidation but does not deal with the provisions of the civil liability of the liquidator, and therefore the general rules stipulated in the Jordanian Civil Law are implemented. This article aims to determine the liquidator's liability against the company when collecting and paying its debts. The article will be divided into three parts. The first part will discuss the definition and conditions of the liquidator. In the second part, the article will look at the appointment of the liquidator. Then the third part analyses the liquidator's liability against the company when collecting and paying its debts.