Comparative Study On Company Liquidation In French Law And Ohada Law

With the increasing globalization of the economy,the monitoring of collective proceedings is becoming an absolute necessity.Company liquidation is nowadays a very recurrent phenomenon in view of the increase in the large number of companies in difficulty.French law and Ohada law establish the law of collective proceedings,of which company liquidation is a part respectively through the French Commercial Code,the French Civil Code,the Uniform Act on Collective Proceedings for the Discharge of Liabilities and the Uniform Act on the Law of Commercial Companies and Economic Interest Groupings.Practice shows that in both legal systems many companies in difficult situations are liquidated for lack of poor prevention,i.e.by late treatment or care,and that,above all,the liquidation procedure is subject to enormous abuses linked sometimes to slowness,heaviness and sometimes to long period of proceedings.In short,the many factors that make this crisis situation more permanent,while it can be well handled and managed through the implementation of a preventive mechanism that aims to anticipate companies' difficulties once the signs have appeared and disappeared.This study focuses mainly and essentially on the comparative study on company liquidation in French law and Ohada law,which logically analyses and studies the concept of company liquidation and collective proceedings through the basic texts that regulate this sector in both laws.Its objective is to reveal the similarities and differences between French law and Ohada law on company liquidation.The research also tries to show the strengths and weaknesses of each legal order on the subject and to formulate proposals through the various recommendations for improving the company liquidation procedure in both legislations.Moreover,the thesis deals with the major issues targeted,which provide a good knowledge of the state of the subject in both law.The author believes that collective proceedings,including company liquidation as organized in both law,should be further reformed,reorganized in view of the company's situation,especially in Ohada law,which is late compared to French law.This requires improving and adapting his legal system to the socio-economic contexts,with a view to preserving the company,strengthening prevention,maximizing the chances of receivership,liquidating companies in irremediably compromised situations as quickly as possible and promoting mutual agreement procedures.This is the way in which collective proceedings will find effective solutions and will have effective legal treatment.