The dissolution of a company occurs for various reasons. Firstly, either after following a relevant decision of the partners, or, if the company is effective for a fixed period of time, automatically upon the expiration of that period. It can also be dissolved after being declared bankrupt, or following a corresponding court decision, upon the relevant request of a partner, provided there is a significant reason. (articles 764 to 780 of the Civil Code and Law 4072\/2012)<\/p>\n\n\n\n
All the aforementioned cases concern every type of company, whether it consists of legal entities or natural persons. However, a common question is what happens in the event of the death of the natural person who is the sole owner-partner of the business. According to the provisions of the law, the case of their death constitutes a reason for the dissolution of the sole proprietorship.<\/p>\n\n\n\n
However, an additional possibility is introduced with the provision of the law in article 16 paragraph 2 of Law 4919\/2022. The article provides for the possibility of establishing a new business, as a continuation of the previous one, which, however, will acquire a new legal form and will be re-registered in the General Commercial Registry (GEMI).<\/p>\n\n\n\n
The choice of the company type is at the discretion of the heirs of the deceased. That is, it can take the form of a Public Limited Company (A.E.), a Private Company (I.K.E.), a Limited Liability Company (E.P.E.), and generally all common forms of commercial enterprises.<\/p>\n\n\n\n