State Act

Portuguese Civil Code, 1867

Article 1274 – Competing claims of creditors of society and of individual shareholder - The creditors of the society shall have preference over the creditors of the individual shareholders as far as the assets of the society are concerned; but the creditors of the individual shareholder may seek attachment and execution of the society share of the individual shareholder who is indebted to the said creditor. § Sole paragraph - In the latter case, the society shall come to dissolution and the Judgement Debtor shall be liable for the losses, damages to the other shareholders and the dissolution of the society shall take place automatically.