Companies Law

Debts and Obligations of Company Subject to Division A company resulting from the division shall be a successor to the company subject to division to the extent prescribed in the division decision. However, creditors of the company subject to division may request the two companies or the companies resulting from the division to satisfy the debts and obligations of the company subject to division. The two companies or the companies resulting from the division shall be jointly and severally liable for satisfying such debts and obligations, except in cases where an agreement is concluded with such creditors to transfer their rights of claim to the company resulting from the division to which such debts and obligations are transferred.