Compulsory action to repay the debts of the bankrupt company and its TEMP effects: a comparative study 10.35781/1637-000-018-005د. مكسيم معاون سعيد السباعي

Abstract

The study aimed to maximizing possible protection of public funds, protecting creditors and partners alike against the actions of the debtor. As well as clarifying the responsible court to consider the payment of debts action. The significant of this study was to bring an action to pay debts obligatory in case of bankruptcy of the sharing company or a deficit in the company’s assets at 20% of the company's debts, which led the company to a bankruptcy then to disturbance of the national and global economy. The problem of the research was to identify how to bring an action to pay the debt obligatory of the bankrupt company, and the problem’s solution centered on the existence of special rules of bring an action to pay the debt obligatory of the bankrupt company differ from the rules that applied to the proceedings in general in Civil and Commercial Procedures Law. The study adopted the comparative, analytical and descriptive approach according to the law of Yemeni, Egyptian and Sudanese companies, and it did not mention and describe the legal texts, but it worked on analyzing them. The study concluded with several results, the most important one was: The Yemeni and Egyptian commercial legislators did not authorize to declare board members and managers of the bankrupted company in case if they failed to pay the debts of the company they were sentenced to pay, in violation of French legislation, which in such a case authorized the declaration of settlement or judicial liquidation against them if they stopped paying the debts. The study recommended that obligating the Yemeni commercial legislator upon the responsibility of the board members and withdrawal managers before issuing the company's bankruptcy, where the bankruptcy was based on the deficit in the company's assets when they took over the management of the company.