Under the newly revised Company Law, are directors, supervisors, and senior management also liable for withdrawal of capital?
Yes. Article 53 of the newly revised Company Law provides that where loss is caused to the company, the directors, supervisors, and senior management who are responsible shall bear joint and several liability for compensation together with the shareholder who has withdrawn capital. Directors, supervisors, and senior management must exercise their duty of review when approving and handling large transfers and connected transactions.
