Commentary

257.1 Vesting of assets and liabilities

COMPANIES vol 11 acquisitions, mergers, demergers

257.1 Vesting of assets and liabilities

257 Order of the court

257.1 Vesting of assets and liabilities

When the court has approved the scheme for a merger or division of a public company to which Part 271 (mergers and divisions of public companies) of the Companies Act 2006 applies, it must fix a date on which the transfer (or transfers) to the transferee company (or transferee companies) of the undertaking, property and liabilities of the transferor company is (or are) to take place, and shall consequently vest them in the transferee company on that date by operation of the court’s order2.

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