Document Type : Original Article
Authors
1
PhD student in private law, Faculty of Law, Theology and Political Science, Science and Research Unit, Islamic Azad University, Tehran, Iran
2
Associate Professor, Department of Private and Economic Law, Faculty of Law and Political Science, Allameh Tabataba'i University, Tehran, Iran
3
Assistant Professor, Department of Private Law, Faculty of Humanities and Law, Isfahan Branch, Islamic Azad University, Isfahan, Iran
10.48300/jlr.2022.342258.2056
Abstract
Corporation as one of the economic performers, play an essential role in economic dynamism, job creation and providing various services in any society; However, if the financial crises result in bankruptcy and liquidation, society will suffer from the firm's resources; Therefore, corporate restructuring is accepted in the legal system of many countries and has several effects on the legal entity of the company, its managers, creditors and shareholders. Reorganization of an enterprise is accepted in the legal system of many countries and has several effects on the legal entity of the enterprise, its managers, creditors and shareholders. With regard to this issue, the present article, using a descriptive-analytical method and based on library studies, has examined the most important legal effects of joint stock company reorganization on the situation of the above four groups, with emphasis on the US legal system. The findings of this study indicate that reorganization can have positive or negative effects to all. The most important effects of the reorganization on the legal entity of the joint stock company are the possibility of continuing its activities and the immunity of its property from seizure and its acquittal from its former debts. About directors, the change of directors, which is itself the subject of much controversy and activity under the supervision of an observer, can be the most prominent effects. In the case of creditors, the most important effect of reorganization should be their maximum achievement of their claims and, in some cases,
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