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Laws › Commercial Act › SECTION 12 Liquidation

Commercial Act — Article 536 (Repayment Within Period for Presenting Claims)

상법 제536조

This English translation is based on the Korean text effective 2018-12-19. The Korean law has since been amended (current version effective 2026-09-10) — check the Korean original.

(1) No liquidator may repay claims to creditors during the period set for presenting claims under paragraph (1) of the preceding Article: Provided, That the company shall not be exempt from liability for damages resulting from the delay of performance.

(2) Notwithstanding the provisions of the preceding paragraph, a liquidator may, with the permission of the court, repay small claims, secured claims or any claims the repayment of which is not likely to injure other creditors.

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