Split-Up


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Split-Up

An arrangement whereby a parent corporation transfers all of its assets to two or more corporations and then winds up its affairs.

When a split-up occurs, the shareholders of the parent corporation surrender the total amount of their stock in exchange for stock in the transferee corporation.

References in periodicals archive ?
The same may be true of split-ups in which the new company remains within the controlled group (e.
355(e) on the interpretation of "plan (or series of related transactions)" for affected spinoffs, splitoffs and split-ups.
A rising number of voices are calling for split-ups of corporate monoliths.
Cafcass says it gets involved in only about 10% of split-ups - and by the end of the process contact between fathers and their children increases.
But where there is sound preparation for school split-ups, with teachers and parents involved early on, the hoped-for results of more personal attention, fewer dropouts and higher academic achievement seem to be materializing.
The number of corporate split-ups came to 20 in the last fiscal year, the first year such data became available as companies were required to report such cases from April last year.
Former Home And Away soap star Fisher broke off her engagement to Day last month, in what seemed to be a repeat of his other high-profile split-ups with actresses.
There are a number of symptoms which are commonly associated with relationship split-ups.