Take-over of assets (also called transfer of assets to a partner) represents a transformation that enables the majority owner of the company, whose ownership interest in the registered capital is at least 90 per cent in the case of a joint-stock or limited liability company, to wind up the company controlled by it without liquidation, and transfer the assets of the company to the majority owner itself. This practice is not allowed in cooperatives (the transfer of assets to a partner in a cooperative venture).
The receiving partner shall give reasonable monetary compensation to the other partners of the company being transformed, the amount and adequacy of which must be supported by a court appointed expert’s opinion. When assets of a joint-stock company are being transferred to the receiving partner, the compensation is paid by an authorized person, usually a bank or securities dealer. The funds to be paid to the other shareholders must be given to the authorized persons before the registration of the transfer of assets into the Commercial Register.
The transfer of assets to a partner is made based on a project for the transfer of assets that must be, after having been reviewed by an expert, filed in the Collection of Deeds, and subsequently approved by the General Meeting or similar company bodies of the company being wound-up. The transfer of assets to a partner shall become effective on the date of its registration into the Commercial Register; the other shareholders of the company being wound-up will become entitled to monetary compensation.
Továrek, Horký a partneři, advokátní kancelář, s.r.o., within the framework of preparation and execution of the transfer of assets, implements all the necessary steps on behalf of its clients, ensuring all necessary documents and acts. At the request of the client, we can arrange cooperation with experts, develop the project for the transfer of assets, and the report on transformation. As part of its standard services, THT can organize the General Meeting regarding the transfer of assets, and represent the client in the subsequent registration proceedings.
The receiving partner shall give reasonable monetary compensation to the other partners of the company being transformed, the amount and adequacy of which must be supported by a court appointed expert’s opinion. When assets of a joint-stock company are being transferred to the receiving partner, the compensation is paid by an authorized person, usually a bank or securities dealer. The funds to be paid to the other shareholders must be given to the authorized persons before the registration of the transfer of assets into the Commercial Register.
The transfer of assets to a partner is made based on a project for the transfer of assets that must be, after having been reviewed by an expert, filed in the Collection of Deeds, and subsequently approved by the General Meeting or similar company bodies of the company being wound-up. The transfer of assets to a partner shall become effective on the date of its registration into the Commercial Register; the other shareholders of the company being wound-up will become entitled to monetary compensation.
Továrek, Horký a partneři, advokátní kancelář, s.r.o., within the framework of preparation and execution of the transfer of assets, implements all the necessary steps on behalf of its clients, ensuring all necessary documents and acts. At the request of the client, we can arrange cooperation with experts, develop the project for the transfer of assets, and the report on transformation. As part of its standard services, THT can organize the General Meeting regarding the transfer of assets, and represent the client in the subsequent registration proceedings.