Can a “Reverse Merger” Be Made Under Cyprus Law?
The term “reverse merger” refers to a reorganisation whereby a subsidiary company absorbs the assets and liabilities of its parent holding company.
The term “reverse merger” refers to a reorganisation whereby a subsidiary company absorbs the assets and liabilities of its parent holding company.
We are often approached by clients who wish to simplify their corporate structures, with the question whether it is best to opt for a merger between their group companies, or the liquidation of companies which no longer they wish to keep alive.
The Legal Framework Insolvency matters in Cyprus are governed by the Bankruptcy Law Cap.5, which deals with the bankruptcy of natural persons, and the Companies Law Cap.113, supplemented by the Companies (Winding Up) Rules and certain provisions of the Bankruptcy Law which regulate the insolvency of legal persons. In 2015 the Cypriot Insolvency Law has…
Possibility to remove current liquidator and possibility to appoint an additional liquidator in the procedure of creditor’s voluntary liquidation. Based on Section 277 of the Cyprus Companies Law, Cap.113, the creditors and the company at their respective meetings may nominate a person to be liquidator for the purpose of winding up the affairs and distributing…
A company may enter into the procedure of the voluntary liquidation by its creditors when it cannot pay its debts. This procedure’s objectives are the distribution of the insolvent company’s assets between its creditors and the company’s dissolution. The directors of the insolvent company shall prepare a statement of their position on the company’s affairs,…
Procedure of re-domiciliation of a Cyprus Company out of the Republic of Cyprus. Application for re-domiciliation abroad A Cyprus company registered under the provisions of the Companies Law, Cap. 113 may apply to a foreign country to be registered and continue its existence under that legal regime provided that the following has been obtained: (a)…
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