Outline of the case
When an M&A proposal was made to our client, it was decided to transfer the business by way of a company split because the procedure for transferring individual rights, such as obtaining the consent of business partners, would be complicated if the business were transferred by way of a business transfer. Since a company split is a comprehensive transfer of assets, the consent of individual creditors is no longer required. In addition, the creditor protection procedure can be simplified by using Internet public notice instead of the official gazette as the method of public notice.
Our firm’s M&A services included drafting schemes for M&A, handling goodwill, calculating stock prices, preparing information packages, preparing schedules for corporate divestitures, preparing notices to employees and other documents related to corporate divestitures, coordinating communications with the purchasing company, preparing divestiture agreements, and arranging registration of new establishment divestitures.