Guiding Case No. 9: Shanghai Cunliang Trading Co., Ltd. v. Jiang Zhidong, Wang Weiming et al.
Shareholders of a limited liability company, and directors and controlling shareholders of a company limited by shares, remain statutory liquidation obligors after business-license revocation and cannot avoid liability by claiming they lacked actual control or day-to-day management.
Holding
Shareholders of a limited liability company, and directors and controlling shareholders of a company limited by shares, remain statutory liquidation obligors after business-license revocation and cannot avoid liability by claiming they lacked actual control or day-to-day management.
Issues
liquidation obligorsliquidation after business-license revocationjoint repayment liability