Reorganisation in joint-stock company.

A JSC can be reorganised if its shareholders so decide. Reorganisation can be done in the form of merger, accession, division, spin-off of transformation.

In case of the merger of companies the rights and duties of each of them pass to the newly arising legal person.

In case of accession of a company to another company the rights and duties of the acceding company pass to the latter.

In case of division the rights and duties of the company pass to the newly formed legal persons.

In case of spin-off from the company of one or more companies the rights and duties of the reorganised company pass to each of them in accordance with the division balance sheet.

A JSC can be transformed into an LLC or a partnership.

 

 

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