[Consultation] Review of Requirements for Asset Transfer and Guidance on Asset Transfer Procedures
Article posted in | VEAT
IT Veat businesses change faster than other industries. Accordingly, management decisions, as well as the legal procedures following those decisions, often need to proceed rapidly. A, formerly a listed company, wished to quickly acquire most of the software development business operated by another company due to an urgent need for management.
The problem was whether the requirements stipulated in the Commercial Code and the Capital Market Act for a business transfer were met, and what procedures were necessary to proceed with the business transfer as quickly as possible. To this end, Law firm Veat comprehensively considered the substantial business transfer requirements stipulated in the Capital Market Act and case law, the procedures of the company's institutions (board of directors and shareholders' meeting) that the transferring and acquiring companies must follow in a substantial business transfer, and the regulations regarding simplified business transfers and the special provisions for listed companies, and provided the methods and procedures for proceeding with the business transfer most quickly.
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Law firm Veat