{"id":24286,"date":"2017-09-13T21:29:59","date_gmt":"2017-09-13T21:29:59","guid":{"rendered":"https:\/\/morimor.com\/company-split\/"},"modified":"2017-09-13T21:29:59","modified_gmt":"2017-09-13T21:29:59","slug":"company-split","status":"publish","type":"post","link":"https:\/\/morimor.com\/es\/company-split\/","title":{"rendered":"Company Split"},"content":{"rendered":"

<\/p>\n

On November 28, 2012, Law 85 of 2012 was published in the Official Gazette of the Republic of Panama, by which certain articles of the Code of Commerce of the Republic of Panama are amended and added, establishing the \u201cSplit\u201d as a form of company reorganization.<\/p>\n

Split-up<\/strong><\/p>\n

It the act whereby a company may split or divide all or part of its assets to transfer them onto one or several companies already constituted or one or several companies to be constituted known as beneficiaries.<\/p>\n

Article 505-A added to Chapter IX-A of Title VII of Book I of the Code of Commerce establishes the following:<\/p>\n

Article 505-A.<\/strong> A business company of any class or nature may split off by division of all or part of its patrimony and transfer thereof to one or more companies already constituted or for the creation of new companies, named beneficiaries, who have the same members or shareholders of the split company or having the latter as its member or shareholder.<\/p>\n

The effect<\/em> <\/strong>of a split shall be the segregation and transfer of assets from the split company to a company or companies already constituted or to be constituted and the issuance of participation quotas or shares by the latter, to members or shareholders of the split company.<\/p>\n

Approval of Split<\/strong><\/p>\n

Article 505-B establishes that the Split shall be approved by the members or shareholders of the split company and the minute<\/strong> approving the same or a certification issued by whoever acted as secretary shall be made into a public deed and recorded at the Public Registry to be valid before third parties.<\/p>\n

Members or shareholders of the split company may decide within such minute the following:<\/p>\n

    \n
  1. The total or partial transfer of individual or group assets.<\/li>\n
  2. The limited liability system of the split company and the beneficiary company or companies.<\/li>\n
  3. The transfer or not of liabilities from the split company.<\/li>\n
  4. The transfer of participation quotas or shares to the beneficiary companies.<\/li>\n
  5. The number of participation quotas or shares corresponding to each member or shareholder of the split company in proportion to its participation in it.<\/li>\n
  6. The approval of the articles of incorporation of the company or the new companies to be constituted.<\/li>\n<\/ol>\n

    Notice to third parties to enforce their rights<\/strong><\/p>\n

    Paragraph 2 of article 505-B provides that notice to third parties<\/strong> to enforce any rights they may have shall be made through a certification issued by the Public Registry, which shall be published for three days in a national newspaper<\/strong>.<\/p>\n

    Rights and obligations<\/strong><\/p>\n

    Article 505-D establishes that beneficiary companies shall acquire the rights, privileges, and obligations in the patrimonial portion transferred to them, in the same terms and conditions. Beneficiary companies shall be liable for taxes, advance payments, withholdings, penalties and interests and further fiscal obligations as of the split and thereafter.<\/p>\n

    In addition, the beneficiary company shall be jointly and severally liable before creditors of the split company but only for the net assets that may have received in accordance with the terms of the split.<\/p>\n

    Tax effects<\/strong><\/p>\n

    The transfer of assets due to the split of a business company shall not be considered as alienation for tax purposes, provided that said transfer is for the same amount the said assets have in the accounting records of the split company.<\/p>\n

    Beneficiary companies receiving such assets as a result of the split shall be jointly and severally liable with the split company for taxes, advance payments, withholdings, penalties and interests, and further fiscal obligations of the latter enforceable upon the split, as well as for those arising thereafter.<\/p>\n

    Creditor\u2019s right to challenge the split<\/strong><\/p>\n

    Any creditor of a split company may challenge the same within thirty days following the last publication referred to in article 505-B.<\/p>\n

    Notice to the General Directorate of Revenue<\/strong><\/p>\n

    The company object of the split shall notify its intention to split to the General Directorate of Revenue within thirty days prior to the split date. As it is just a notification, the split does not become conditioned, subject or subordinated to approval from the tax authorities.<\/p>\n

    <\/p>\n

    A casi 96 de a\u00f1os de la entrada en\u00a0vigencia de nuestro C\u00f3digo de\u00a0Comercio, dos nov\u00edsimas\u00a0instituciones son incorporadas a\u00a0su texto mediante Ley 85 de 2012.\u00a0La primera es la escisi\u00f3n de\u00a0sociedades comerciales como\u00a0forma de reorganizaci\u00f3n\u00a0empresarial, y la otra, es la\u00a0reactivaci\u00f3n de sociedades cuya\u00a0disoluci\u00f3n haya sido voluntaria.<\/p>\n

    Por \u201cescisi\u00f3n\u201d debemos entender:\u00a0divisi\u00f3n o segregaci\u00f3n; y en ese\u00a0sentido la ley de reciente data\u00a0permite a una sociedad comercial\u00a0dividir su patrimonio total o\u00a0parcialmente a n de traspasarlo a\u00a0una o m\u00e1s sociedades ya\u00a0constituidas, o a la creaci\u00f3n de\u00a0nuevas sociedades. En este\u00a0proceso, la sociedad que divide su\u00a0patrimonio se denomina\u00a0\u201csociedad escindida\u201d; las ya\u00a0constituidas y que acogen el\u00a0patrimonio: \u201csociedades\u00a0receptoras o absorbentes\u201d, y las\u00a0nuevas que resultan de la\u00a0integraci\u00f3n de dicho patrimonio:\u00a0\u201csociedades bene ciarias\u201d.<\/p>\n

      \n
    • Toda sociedad comercial para\u00a0poder iniciar el proceso de\u00a0escisi\u00f3n, debe comunicar su\u00a0intenci\u00f3n a la ANIP dentro de los\u00a030 d\u00edas anteriores a la fecha en que\u00a0se estime deba perfeccionarse la\u00a0misma.<\/li>\n
    • La escisi\u00f3n produce dos efectos: 1)\u00a0la segregaci\u00f3n y traspaso de\u00a0activos; y, 2) la emisi\u00f3n de\u00a0acciones por \u00a0arte de las\u00a0sociedades bene ciadas a favor de \u00a0los accionistas de la sociedad\u00a0escindida. En ning\u00fan momento ha\u00a0de entenderse que la escisi\u00f3n\u00a0como tal, produce la desaparici\u00f3n\u00a0de la sociedad escindida del\u00a0mundo jur\u00eddico, ni implica la\u00a0p\u00e9rdida de la condici\u00f3n de\u00a0accionistas a quienes figuren\u00a0como tal en el pacto social.<\/li>\n
    • El acta o certi caci\u00f3n que resulte\u00a0de la aprobaci\u00f3n de la escisi\u00f3n\u00a0debe constar en escritura p\u00fablica\u00a0para ser inscrita en el Registro\u00a0P\u00fablico como medio de\u00a0publicidad del acto, y ser\u00a0publicada por tres d\u00edas en un\u00a0diario de circulaci\u00f3n nacional, para\u00a0conocimiento de los interesados.<\/li>\n
    • Seg\u00fan los t\u00e9rminos del acta, las\u00a0sociedades bene ciadas, desde el\u00a0momento en que se inscribe la\u00a0escisi\u00f3n en el Registro P\u00fablico,\u00a0asumen y adquieren todos los\u00a0derechos y obligaciones con\u00a0respecto a la parte patrimonial\u00a0que se les fue traspasado en su\u00a0provecho. Estas, adem\u00e1s,\u00a0responder\u00e1n solidariamente con\u00a0los activos netos que les\u00a0correspondi\u00f3, si tal traspaso de\u00a0activos perjudica a los acreedores\u00a0de la sociedad escindida; en cuyo\u00a0caso podr\u00e1n objetar la escisi\u00f3n,\u00a0dentro de los 30 d\u00edas siguientes al\u00a0\u00faltimo d\u00eda de la publicaci\u00f3n de la\u00a0misma en un diario (la ley no dice\u00a0que la publicaci\u00f3n debe ser en\u00a0d\u00edas seguidos). No obstante, y para\u00a0efectos fiscales, el traspaso no se\u00a0considerar\u00e1 como una\u00a0enajenaci\u00f3n, siempre que el\u00a0mismo sea por igual valor al que\u00a0tienen dichos activos seg\u00fan los\u00a0registros de la sociedad escindida.<\/li>\n
    • La reactivaci\u00f3n de las sociedades\u00a0comerciales proceder\u00e1 en\u00a0cualquiera de los 2 supuestos a\u00a0saber: 1. en cualquier momento\u00a0antes de nalizar su proceso de\u00a0liquidaci\u00f3n, siempre y cuando la\u00a0reactivaci\u00f3n sea aprobada en\u00a0asamblea general ad hoc, por la\u00a0mayor\u00eda de sus accionistas; 2.en el\u00a0caso de que, concluida la\u00a0liquidaci\u00f3n, aparecieran activos de\u00a0la sociedad que no fueron\u00a0liquidados; siempre y cuando\u00a0concurran las condiciones\u00a0relativas a la asamblea general del\u00a0primer supuesto. Cabe a\u00f1adir que,\u00a0para que la reactivaci\u00f3n surta\u00a0efectos frente a terceros, al igual\u00a0que la escisi\u00f3n, debe constar en\u00a0acta y ser inscrita en el Registro\u00a0P\u00fablico.<\/li>\n
    • La reactivaci\u00f3n produce los\u00a0siguientes efectos: 1) la\u00a0terminaci\u00f3n de la liquidaci\u00f3n; y, 2)\u00a0La \u00a0continuaci\u00f3n a plenitud de su\u00a0capacidad jur\u00eddica en las mismas\u00a0condiciones que ten\u00eda antes de\u00a0decretarse su disoluci\u00f3n.<\/li>\n
    • Debe indicarse que el Art\u00edculo 6\u00a0de la ley en menci\u00f3n modi ca el\u00a0Art\u00edculo 534 del C\u00f3digo de\u00a0Comercio, disponiendo que los\u00a0liquidadores de una sociedad de\u00a0cualquier clase o naturaleza\u00a0podr\u00e1n ser removidos y\u00a0reemplazados en cualquier\u00a0momento por decisi\u00f3n de los\u00a0accionistas en asamblea general\u00a0ad hoc. Y si estos fueron\u00a0nombrados por un juez, est\u00e9\u00a0mismo ser\u00e1 quien decrete la\u00a0remoci\u00f3n a petici\u00f3n de alg\u00fan\u00a0socio por motivos fundados.\u00a0Para nuestro pa\u00eds, como uno de los\u00a0principales proveedores de\u00a0tr\u00e1mites de constituci\u00f3n expedita\u00a0de sociedades (S.A., y R.L.), esta ley\u00a0representa un avance en la\u00a0legislaci\u00f3n mercantil de cara a una\u00a0era de mayor crecimiento\u00a0econ\u00f3mico.<\/li>\n<\/ul>\n

      <\/p>\n","protected":false},"excerpt":{"rendered":"

      On November 28, 2012, Law 85 of 2012 was published in the Official Gazette of the Republic of Panama, by which certain articles of the Code of Commerce of the Republic of Panama are amended and added, establishing the \u201cSplit\u201d as a form of company reorganization. Split-up It the act whereby a company may split<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[488,477],"tags":[],"class_list":["post-24286","post","type-post","status-publish","format-standard","hentry","category-blog","category-tejeira-mario"],"_links":{"self":[{"href":"https:\/\/morimor.com\/es\/wp-json\/wp\/v2\/posts\/24286","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/morimor.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/morimor.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/morimor.com\/es\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/morimor.com\/es\/wp-json\/wp\/v2\/comments?post=24286"}],"version-history":[{"count":0,"href":"https:\/\/morimor.com\/es\/wp-json\/wp\/v2\/posts\/24286\/revisions"}],"wp:attachment":[{"href":"https:\/\/morimor.com\/es\/wp-json\/wp\/v2\/media?parent=24286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morimor.com\/es\/wp-json\/wp\/v2\/categories?post=24286"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morimor.com\/es\/wp-json\/wp\/v2\/tags?post=24286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}