We refer to our previous publications regarding the new features in Panamanian law that now allows the reactivation of Panamanian Corporations that have previously undergone a formal dissolution.
Law No. 85 of November 22, 2012 has brought new provisions that permit a reactivation of a Corporation at any time before its liquidation has been finalized and its reactivation would also be feasible due to having discovered assets that were not liquidated during the Corporation’s liquidation phase.
A Corporation’s reactivation will cause the cessation of its liquidation process and will end its limitation to enter into new business activities, meaning it may continue having full legal capacity in the same conditions it had before its formal dissolution was processed, so that the Corporation may continue all legal and contractual relations which had not ended prior to the reactivation.
A reactivation is approved by the decision of the majority of the Corporation’s shareholders, adopted by a General Shareholders’ Meeting, specifically called for this purpose and further be registered in the Public Registry.
If you are interested in taking advantage of this possibility for your Panamanian corporation, kindly send an e-mail to firstname.lastname@example.org
Cardwell advisory Desk.