In the event of a split, the company to be divided transfers all of its property to two or more of the acquiring companies and ceases to exist without liquidation. In the event of a split, the members of the company to be divided shall become members of the acquiring companies in accordance with the decision on the division of the company. The reorganisation shall be carried out in two stages.
If the draft reorganisation agreement has been submitted to the Enterprise Register and is attached to the company registration case, but is amended - the company must re-initiate the reorganisation process by submitting the amended draft reorganisation contract to the Enterprise Register. A meeting of participants shall, not earlier than one month after the publication of the draft amended reorganisation agreement, examine the draft contract and take a decision regarding reorganisation. If the company had already issued a notice to creditors regarding the reorganisation in the official publication Latvijas Vēstnesis, the notification to creditors shall be repeated after the decision of the meeting of the members.
At the same time, it should be noted that if one of the companies involved in the reorganisation changed the name or was transformed into another type of company during the reorganisation, it should not be considered as the basis for amending the draft reorganisation agreement.
Documents to be submitted:
Time limit for the submission of documents in the Enterprise Register: 14 days from the drafting of the draft reorganisation contract