Company: APXIF
Filing Date: 2025-03-31
Form Type: F-4/A
Source: 0001213900-25-026339
Chunk: 467

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: F-4/A
Chunk 467
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 by the courts of the Cayman Islands as penal, punitive in nature. A Cayman Islands Court may stay enforcement proceedings if concurrent proceedings are being brought elsewhere. 257 Enforceability of Civil Liabilities in Argentina The Company is a unipersonal corporation ( sociedad anónima unipersonal, or SAU) incorporated under the laws of Argentina. The advantages of a unipersonal corporation include the ability to clearly establish sole ownership of a company, avoiding the need for “apparent partners,” “frontmen,” or “family members,” which can often lead to complications. Additionally, the SAU structure limits business risks for each unit of operation, as the commercial, labor, and tax obligations of the company, as well as its bankruptcy, do not transfer to the sole shareholder, provided that all legal requirements are met in form and substance. There is also no limit to the number of SAUs that a natural or legal person can establish. In terms of costs, if the shareholder is the sole director and the company’s accountant also serves as the statutory auditor, there is no significant increase in fees. While the law requires “permanent state supervision” (article 299, section 7 of the Argentine General Corporate Law), as long as corporate and accounting formalities are up to date, there should be no issues in complying with the specific rules of such supervision. The remaining requirements for a unipersonal corporation are relatively straightforward: like all corporations, it must be established through a public deed (article 165) with a minimum capital (article 186); the sole shareholder cannot be another unipersonal corporation (article 1); the company name must include the words “ Sociedad Anónima Unipersonal,” its abbreviation, or the acronym “S.A.U.” (article 164); and all capital contributions must be fully paid at the time of incorporation article 187). However, a SAU must also comply with additional obligations, such as maintaining a board of directors and a statutory audit committee, publishing assembly notices in the Official Gazette and a widely circulated newspaper and undergoing permanent state supervision. These requirements, while intended to ensure transparency and accountability, may impose significant costs and complexities, making the SAU structure less accessible for smaller businesses. It is important to note that, in practice, the flexibility in the structure of the board of directors and the audit committee may vary depending on the size and nature of the company. Substantially the Company’s assets are located outside the United States. In addition, a majority of