Which assets and liabilities must be recorded in a transfer of business assets as part of a reorganisation in Georgia?

All transferred assets, receivables, contracts, rights, debts, security interests and other obligations must be recorded. Each item should be clearly assigned to one of the companies involved.

How are business assets allocated in a reorganisation in Georgia?

The allocation is made under the applicable reorganisation plan and implemented as of the intended effective date. Unclear items should be resolved before registration in the relevant register.

Are additional registrations required when transferring a company’s real estate in Georgia?

Supplementary register entries or evidence may be required for registered assets. The requirements must be checked separately for each property and existing encumbrance.

Do business licences transfer with business assets in a reorganisation in Georgia?

Not without review. For each licence, its legal basis must be checked to determine whether it remains valid or requires notification, consent or a new permit.

How is the succession to assets documented in the accounts after a reorganisation in Georgia?

The transferred assets and liabilities must be reflected in the books of the companies involved as of the specified effective date. The reorganisation plan, inventory and valuation documents should provide traceable support for the accounting entries.

Transfer of Business Assets as Part of a Reorganisation in Georgia

In a reorganisation in Georgia, assets and liabilities may be transferred to a continuing or newly established company under the applicable reorganisation plan. The succession to business assets must clearly identify assets, liabilities and the associated legal positions.

авторҙар:Mariam&Luka

Before the transfer, a complete inventory of the affected business assets must be prepared. This includes cash, receivables, inventory, equipment, real estate, ownership interests, intellectual property rights and other business assets. Loans, trade payables, security interests, provisions and other obligations must also be recorded. The reorganisation plan should specify which company will assume each item as of the effective date. Contracts, employment relationships, ongoing proceedings and business data must be traceably assigned to the related assets and business areas. Ownership rights and encumbrances should be checked against registers, contracts and accounting records. Despite the reorganisation, additional registrations, notifications or evidence may be required for certain types of assets. Licences and permits do not automatically follow the transfer of assets without review, as their continued validity depends on the relevant legal basis. The assets and liabilities must be correctly reflected in the accounts of the companies involved as of the specified date. Tax consequences, creditor protection and potential liability issues must be clarified in light of the specific structure before registration in the relevant register.

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