Reforming The Role Of Liquidators In Jordanian Commercial Law: Clarity, Consistency, And Accountability

Abstract

1. Introduction:

1.1 R

esearch Topic:

This study delves into researching, analyzing, and detailing the legal nature of the liquidator of a commercial company, especially given that civil law and company law do not provide a clear definition of the liquidator and the liquidation process, nor do they explicitly outline its legal basis. Consequently, legal scholars have at times regarded the liquidator as a manager or an agent of the company, while at other times, as a representative of its partners or creditors. This research endeavors to explore all aspects related to the liquidator, ultimately reaching a conclusive understanding of their accurate legal nature.

1.2 Significance of the Study:

The significance of this study lies in its attempt to refute all legal theories that consider the liquidator as a manager of a commercial company undergoing liquidation, or as an agent on behalf of the company, its creditors, or its partners. It aims to establish that the liquidator is, in fact, a deputy for the company, whether their delegation is based on legal provisions or contractual agreements.

1.3 Study Objectives:

This study aims to clarify the accurate and true legal nature of the liquidator of a commercial company. It also seeks to identify the areas of deficiency, shortcomings, ambiguities, and uncertainties that have afflicted the regulation of this matter by the legislator.

1.4 Study Methodology:

This study adopts an analytical methodology, wherein legal texts governing this subject are presented, and variou[1]s jurisprudential theories concerning it are reviewed and analyzed. This approach is employed to arrive at the correct legal nature of the liquidator of a commercial company.

1.5 Research Problem:

What is the legal nature of the liquidator of a commercial company?

1.5.1 Research Questions Related to the Problem:

Who is the liquidator, and what are the similar concepts to this role? What are the rights and duties of the liquidator, and when does their work come to an end or cease? How is the liquidator appointed?

1. Study Plan

Understanding the correct legal nature of the liquidator of a commercial company can only be achieved through knowledge of who the liquidator is and how they differ from similar concepts. It also involves understanding how they are appointed, their rights, authorities, powers, and duties, essentially defining the concept of the liquidator. By reviewing the theories proposed by jurisprudence to determine the legal basis of the liquidator, this study is divided into two main sections and a conclusion.

The first section addresses the definition of the liquidator of a commercial company, while the second section is dedicated to the legal basis of the liquidator of a commercial company. The conclusion highlights the most important findings and recommendations.

1. First Section: Defining the Commercial Company Liquidator

This section delves into defining and distinguishing the commercial company liquidator. It outlines the appointment mechanism, scenarios for termination of duties, and the roles, responsibilities, and rights of the liquidator. These aspects collectively define the concept. The section comprises four demands: defining the liquidator and distinguishing it from similar roles, explaining the appointment process, detailing cases leading to duty termination, and enumerating tasks, duties, and rights of the liquidator within the company