[Consultation] Proxy for Corporate Merger Notification Procedure with Officer Appointment]
Article posted in 2021-01-20 10:31:00 | VEAT
An employee of A, a venture capital/loan/startup consulting firm, was scheduled to take on the role of a non-executive director and executive officer of another company, B, a general joint-stock company.
Accordingly, A commissioned Law firm Veat for legal advice related to executive officer dual appointment notification, and Law firm Veat represented the company in filing a notification of business combination (executive officer dual appointment) pursuant to Article 12(1)(3) of the Act on Fair Trade and Monopoly Regulation.
In this case of business combination notification related to executive officer dual appointment, as the employee of A was not a representative director but an executive officer holding less than one-third of the total number of directors of B, it was classified as a simplified notification subject according to Ⅱ.2.d of the Procedures for Business Combination Notification.
Therefore, Law firm Veat provided comprehensive legal advice to A regarding the necessary documents and information required for a fair trade law-based executive officer dual appointment business combination notification, and proceeded to prepare and submit the business combination application and attached documents.
For business combinations of a certain size or more, the Fair Trade Commission reviews the notification, and the notification requirements may vary depending on the type, such as stock acquisition, executive officer dual appointment, merger, business transfer, and company participation.
Law firm Veat provides comprehensive legal advice on the procedures and documents required for business combination notifications for each type of business combination. If you need legal advice regarding business combination notifications, please contact Law firm Veat.
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