الملخص الإنجليزي
Liquidation is deemed one of the vital legal stages that commence after the termination of a company.
Upon its termination, for any event stipulated in the law, its legal personality persists and continues until the
completion of the liquidation process. The company does not immediately cease its activities upon announcing
liquidation, However, it continues until it settles its transactions, fulfills debts, and realizes its rights. This
situation paves the way for the distribution of company assets among its partners and shareholders.
This study delves into the legal provisions governing the phase of liquidating the public joint-stock
companies at the provisions of the Omani Commercial Companies Law No. (18/2019) and its executive
regulations. It compares these regulations with the repealed Omani Commercial Companies Law No. (4/1974)
and various comparative regulations. The study addresses the concept of the liquidator, their legal position,
adaptation of responsibilities, the extent of supervision over their actions, determination of their authorities and
responsibilities, clarification of the continuity of the corporate personality, its significance, the impact of
liquidation on contracts entered into by the company, and finally, the explanation of statutes of limitations
related to liquidation claims.
The study comes into conclusion that the Omani Commercial Companies Law addressed several
challenges and restrictions hindering the liquidation process by lifting some limitations on the liquidator's
actions. This includes the prohibition of arbitration and the ability to negotiate settlements with creditors. The
recommendations emphasize empowering the liquidator to manage contracts made by the company upon
announcing liquidation. Additionally, there is a priority to specify the levels for settling the company's debts –
under liquidation – by providing a defined order, given the congestion of outstanding debts.
