Article 60. Guarantees of the rights of creditors of a legal entity during its reorganization.

1. Founders (participants) of a legal entity or body that made a decision on reorganization of a legal entity must notify in writing the creditors of the legal entity being reorganized.
2. A creditor of a reorganized legal entity has the right to demand the termination or early performance of an obligation, the debtor of which is a legal entity, and compensation for damages.
3. If the separation balance sheet makes it impossible to determine the legal successor of the reorganized legal entity, the newly emerged legal entities shall be jointly and severally liable for the obligations of the reorganized legal entity to its creditors.

<< Article 59 TKRF Back to table of contents Article 61 TKRF >>

Links to other articles of chapter 4. Legal entities:
Article 48. The concept of a legal entity.
Article 49. Legal capacity of a legal entity.
Article 50. Commercial and non-profit organizations.
Article 51. State registration of legal entities.
Article 52. Constituent documents of a legal entity.

Article 79. Transfer of a participant's share in the share capital of a full partnership.
Article 80. Enforcement of a share of a participant in the share capital of a full partnership.
Article 81. Liquidation of a full partnership.
Article 82. Basic Provisions on the Partnership on Faith.
Article 83. The foundation agreement of a limited partnership.
Article 84. Management in a limited partnership and the conduct of its affairs.
Article 85. Rights and obligations of the investor of a limited partnership.
Article 86. Liquidation of a limited partnership.
Article 87. Basic provisions on a limited liability company.
Article 88. Participants in a limited liability company.
Article 89. Constituent documents of a limited liability company.
Article 90. The authorized capital of a limited liability company.
Article 91. Management in a limited liability company.
Article 92. Reorganization and liquidation of a limited liability company.
Article 93. Transfer of a share in the authorized capital of a limited liability company to another person.
Article 94. Withdrawal of a participant in a limited liability company from a company.
Article 95. Basic Provisions on Companies with Additional Liability.
Article 96. Basic Provisions on Joint-Stock Company.
Article 97. Open and closed joint stock companies.
Article 98. Formation of a joint stock company.
Article 99. The authorized capital of the company.
Article 100. Increase of the authorized capital of a joint-stock company.
Article 101. Reduction of the authorized capital of a joint-stock company.
Article 102. Restrictions on the issue of securities and the payment of dividends of a joint-stock company.
Article 103. Management in a joint-stock company.
Article 104. Reorganization and liquidation of a joint-stock company.
Article 105. Affiliated economic society.
Article 106. Dependent economic company.
Article 107. The concept of a production cooperative.
Article 108. Formation of production cooperatives.
Article 109. Property of a production cooperative.
Article 110. Management in a production cooperative.
Article 111. Termination of membership in a production cooperative and transfer of a share.
Article 112. Reorganization and liquidation of production cooperatives.
Article 113. Unitary enterprise.
Article 114. Unitary enterprise based on the right of economic management.
Article 115. Unitary enterprise based on the right of operational management.
Article 116. Consumer cooperative.
Article 117. Public and religious organizations (associations).
Article 118. Funds.
Article 119. Amendment of the charter and liquidation of the fund.
Article 120. Institutions.
Article 121. Associations of legal entities (associations and unions).
Article 122. Constituent documents of associations and unions.
Article 123. Rights and obligations of members of associations and unions.
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