Protection of creditors of the companies involved in a spin off

June 7, 2019

Creditors of the participating companies to a spin off, whose claims were born before the splitting date without being overdue, have the right to request guarantees. Companies are under the obligation to provide them guarantees, since the creditors have sufficiently proved that the financial status of the companies, due to the spin off, makes necessary such guarantees to be provided and also in case they have not yet been obtained. This action shall be 30 days after the completion of the publicity formalities.