The decision pronouncing the invalidity of a merger or a demerger shall be published within a period of one (1) month from the day such decision became final.
It shall have no effect on the obligations born or for the benefit of the companies to which the assets are assigned, between the date the merger or demerger takes effect and the date of the publication of the decision pronouncing the invalidity.
In the event of a merger, companies involved in the transaction shall be jointly liable for the execution of the obligations referred to in the preceding paragraph on the absorbing company.
The same shall apply in the case of a demerger, of the company being divided, for the obligations of companies to which the asset is assigned.
Each of the companies to which the asset is being assigned shall be liable for its own obligations between the date the demerger takes effect and the date of publication of the decision pronouncing the invalidity.
Unofficial translation
Transcription: Spot-checked
In force from 05-05-2014
Source page 71
The document's transcription was spot-checked against the supplied source; this does not confirm a line-by-line review of every provision.
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Section 254 of the Acte uniforme révisé relatif au droit des sociétés commerciales et du groupement d'intérêt économique/akn/ohada/act/loi/2014-01-30/auscgie-2014
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