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+38 (093) 435-45-35 +38 (050) 755-25-56
olsonLviv@gmail.com
St. Patriarch Dimitry Yaremy
10 Lviv, Ukraine

Reorganization of joint stock companies (in LLC / ALC)

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Reorganization of joint stock companies (in LLC / ALC)

Reorganization of joint stock companies (in LLC / ALC)

The issue of reorganization of the Joint-Stock Company into a limited liability company arises when the essence of doing business changes, and within the JSC the company becomes "close". To open up new opportunities for business, sometimes it is enough to transfer a company from one status to another.

And when it comes to the reorganization of joint stock companies in Lviv, we advise you to immediately contact the company "OLSON" - this is a quick and effective way to resolve your issue legally correct and without undue difficulty.

Why change JSC to LLC / ALC at all?
The main reason for the above-mentioned changes in the organization of the JSC's activity is the overload of its responsibilities, which relate to the full disclosure of reports and a rather meticulous attitude on the part of state control bodies.

In 2018, the maximum number of participants in a limited liability company was abolished, which made the procedure of reorganization of a joint-stock company into a limited liability company more possible for all joint-stock companies.

Basic conditions of JSC reorganization
Before embarking on changes in the activities of the JSC, it is worth reading a number of basic principles of this process. The reorganization of the Joint Stock Company in Lviv and in all other cities of Ukraine is carried out according to one approved scheme.

The most important point is that the Company categorically cannot be in the process of joining, dividing or transforming the object of its activity at the same time. Also, only joint-stock companies can be involved in the reorganization. It is implied that a limited liability company or an additional liability company (LLC) cannot participate in these processes. After all, a joint-stock company cannot be formed by merging general or limited partnerships.

It is important to note that the authorized capital of the Joint Stock Company must be fully paid and distributed among its shareholders at the time of the decision to merge.

A complete reorganization of the JSC must take place on the basis of an accession agreement or a division plan. The terms of such documents are developed by the supervisory board of each individual Company.

All shares placed by the Joint Stock Company, which terminates its activity by merger, are fully converted into shares of successor companies. There is only one case when the shares are absolutely not convertible. These are shares owned by the JSC itself or by shareholders who have applied for the necessary redemption of their shares.

Mergers, acquisitions or transformations may not be completed until all the claims previously made by the creditors are fully met.

Algorithm of reorganization of the Joint Stock Company
To begin with, the National Depository must obtain a list of shareholders of each Company that intends to participate in the merger. This is followed by approval by the supervisory board of each company and notification of all shareholders about the need to convene a general meeting on reorganization. An important step is the disclosure of all necessary information on the termination of the Company and an inventory of the property of each JSC.

The reorganization procedure is carefully regulated by current legislation, and the transition from the status of JSC to LLC or ALC contains many nuances.

Ukrainian law firm "OLSON" will provide absolutely correct registration of documents. This will help you to optimally organize all stages of reorganization and comply with legislation on this issue.

Frequently Asked Questions

• In which cities do we provide the service?

Lutsk, Ivano-Frankivsk, Rivne, Ternopil, Khmelnytsky, Chernivtsi, Uzhhorod, Mukachevo, Drohobych, Sambir, Stryy, Zolochiv, Mykolayiv, Truskavets, Yavoriv, Kovel, Kalush and others.

• What does the transformation of a joint stock company mean?

Transformation of a joint-stock company is a change in the organizational and legal form of a joint-stock company with its termination and transfer of all property, rights and obligations to the business company - the successor in accordance with the transfer deed.

• Who will be the founder in case of transformation of a joint-stock company?

At the time of the re-creation of the shareholder partnership, all of the shareholder (s), the shareholder who did not bully, become the sponsors (participants) of the entrepreneurial partnership - the advocate.