Creditors, liquidators, company auditors or shareholders may file a petition for the commencement of special liquidation.
債権者、清算人、監査役又は株主は、特別清算開始の申立てをすることができる。
If it is suspected that a liquidating stock company is insolvent, liquidators must file a petition for the commencement of the special liquidation.
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liquidating stock companies
「清算株式会社」
A stock company that is being wound up, which is treated as still existing for the purposes of the liquidation until the liquidation is completed.
Short name set inArticle 476, paragraph (1)
insolvencymachine translation
「債務超過」
In Article 510, item (ii) and Article 511, paragraph (2), the state in which the assets of a liquidating stock company (清算株式会社) are not enough to pay off all its debts.
Defined inArticle 510, paragraph (1), item (ii)· applies only in this provision and in Article 511, paragraph (2)
company auditor
監査役
An officer of a stock company, elected by the shareholders meeting (Companies Act, Article 329, paragraph (1)), whose job is to audit how the directors carry out their duties and to write an audit report on it (Article 381, paragraph (1)). Not an outside accountant — that is the financial auditor (会計監査人) — and not a director: a company auditor may not also be a director or employee of the company or its subsidiaries (Article 335, paragraph (2)). The term normally runs to the annual shareholders meeting for the last business year ending within four years of election (Article 336, paragraph (1)).
Written by AI using Companies Act, Arts. 329, 335, 336, 381 as a reference.