Rights and duties of the liquidators

The liquidators have the rights and duties of the management board arising from sections 26, 27, 33(1), first sentence, sections 34, 44 to 47, 48(3), sections 51, 57 to 59, and are, like the management board, subject to the supervision of the supervisory board. They must prepare a balance sheet for the commencement of the liquidation (opening balance sheet), and, for the close of each year, annual financial statements and, where necessary, a management report. The opening balance sheet is to be disclosed under section 339 of the Commercial Code.