Sociedades en causa de DISolucIÓN y la responsabilidad de los administradores por las deudas sociales. (Spanish)

Companies due to DISSOLUTION and responsibility of the administrators for the social debts. (English)

The article focuses on capital companies and the responsibility of administrators for social debts. The importance of verifying the net worth of the company when formulating the annual accounts is highlighted. If this is less than half of the share capital, a General Meeting must be convened to adopt the dissolution agreement. Administrators who fail to comply with this obligation will be jointly responsible for subsequent social obligations. The failure to deposit the annual accounts makes it difficult for creditors to know the company's financial situation and can put administrators in an unfavorable position to protect their family assets. It is important to comply with accounting obligations to avoid this situation. [Extracted from the article]

The article delves into the dissolution triggers for capital companies, focusing on the responsibilities of administrators regarding social debts and the meticulousness required in financial reporting. It emphasizes the distinction between accounting and commercial net worth, elaborates on the transitional regime due to COVID-19 effects, and highlights administrators' liabilities under Spanish law, particularly when facing dissolution.

Copyright of Técnica Contable y Financiera is the property of Wolters Kluwer Espana and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)