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Status changes – consulting and drafting of documents



> Our Law Firm provides the service of conducting all types of status changes.

Status changes in companies include merges, acquisitions, divisions and change of the company form.
In the status change of merge, two or more companies are joined into one company. The result of the merge is a new company that acts as the legal successor of the merged companies, whereas the merged companies are liquidated. All property, rights and obligations of companies that have been merged are transferred to the new company.

In the status change of acquisition, one company is acquired by another company, in which case the acquired company ceases to exist. All property, rights and obligations of the acquired company are transferred to the acquiror.

In the status change of division, a company may be split in two or more companies. If a company is divided in two companies, two entirely new entities are formed, whereas the company, which is the subject of division, ceases to exist as a legal entity. All property, rights and obligations are transferred to the new companies, emerged out of division. They act as legal successors and are jointly liable for obligations.
An example of the change of company form is transformation of a limited liability company into a joint stock company or vice versa.

All status changes must be supported by a decision, taken by the company’s founders in the manner prescribed by Articles of Incorporation and the Statute.

Besides, all status changes must be entered into the relevant register, i.e., an application for entering the status change into the register must be filed.

* The article is of an informative nature for the purpose of understanding a specific legal problem. It's not allowed to use the content without the permission of the LJUBIC Law Firm.

All status changes must be supported by a decision, taken by the company’s founders in the manner prescribed by Articles of Incorporation and the Statute.

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