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Article 84
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The duties of a liquidator are as follows:
- To wind up all pending business;
- To collect all outstanding debts and to pay off all claims;
- To allocate surplus or loss; and
- To allocate the residual assets.
The liquidator in performing the aforesaid duties shall have the power to act on behalf of the company in all litigation matters; however, the transfer of the business including assets and liabilities to others shall be effected only if all shareholders so concur.
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