Chapter IV · Dissolution and liquidation of the company

Article 196 Return to business. Opposition by creditors

Artigo 196.º · Regresso à actividade. Oposição de credores

Código das Sociedades Comerciais · Decree-Law No. 262/86 · consolidated text checked 26 October 2026

#

1. A creditor of a member may oppose the return to business of a company in liquidation, provided that the creditor does so within 30 days following publication of the relevant resolution.

1 - O credor de sócio pode opor-se ao regresso à actividade de sociedade em liquidação, contanto que o faça nos 30 dias seguintes à publicação da respectiva deliberação.

#

2. Opposition is made by judicial notification (notificação judicial avulsa), applied for within the period laid down in the preceding paragraph; once the notification has been received, the company may, within the following 60 days, exclude the member or resolve to continue the liquidation.

2 - A oposição efectua-se por notificação judicial avulsa, requerida no prazo fixado no número anterior; recebida a notificação, pode a sociedade, nos 60 dias seguintes, excluir o sócio ou deliberar a continuação da liquidação.

#

3. If the company does not adopt either of the resolutions provided for in the final part of the preceding paragraph, the creditor may demand through the courts the liquidation of the partnership interest of the member who is the creditor’s debtor.

3 - Se a sociedade não tomar nenhuma das deliberações previstas na parte final do número anterior, pode o credor exigir judicialmente a liquidação da parte do seu devedor.

What we checked in this article

The 30-day period for a member's creditor to oppose, the form of opposition by judicial notification, the company's 60-day period to exclude the member or continue the liquidation, and the creditor's right to demand liquidation of the partnership interest in court are retained.

Is Article 196 relevant to a company you run or plan to set up?

We advise on Portuguese company law in English every day: formation, capital, members’ resolutions, managers’ liability and restructuring. A written answer and a fixed quote within one working day.

Unofficial English translation prepared by BCA Portugal for reference. Only the Portuguese text published in the Diário da República has legal force. Editorial notes are ours and are not part of the statute.

Applying the law

Portuguese company law, explained in English by the people who apply it

Reading the statute is the first step. Applying it to your articles of association, your capital and your board is where mistakes cost money. Tell us what you are deciding and we will set out the rules that apply and what it costs to get it done.

Get a quote