Reference Case: Li Moumou v. Additional Judgment Debtors in Enforcement
A capital reduction conducted by publication alone without notice to known creditors is procedurally improper. But where the contribution deadline had not yet matured and the shareholders did not actually withdraw capital, the reduction is not the same as capital withdrawal. In the absence of an express rule authorizing direct addition of reducing shareholders, they should not simply be added as judgment debtors in enforcement; substantive liability and statutory enforcement joinder must be kept distinct.
Holding
A capital reduction conducted by publication alone without notice to known creditors is procedurally improper. But where the contribution deadline had not yet matured and the shareholders did not actually withdraw capital, the reduction is not the same as capital withdrawal. In the absence of an express rule authorizing direct addition of reducing shareholders, they should not simply be added as judgment debtors in enforcement; substantive liability and statutory enforcement joinder must be kept distinct.