Split-Up


Also found in: Dictionary, Thesaurus, Financial.

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 ?
A split-up can be used in a variety of circumstances, including separating groups of shareholders whose disagreements on how a business should be run could have a detrimental impact on the business.
The same may be true of split-ups in which the new company remains within the controlled group (e.g., a drop-down of a subsidiary).
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.
He usually has an ETA (estimated time of arrival) and asks to be briefed on any new developments (pregnancies), mergers (wedding plans), bankruptcies (split-ups) and talks (general gossip) affecting said friends.
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. Anger needs to be dealt with and the person often feels hatred towards those who they see as causing the split up, such as another woman.
If it is any consolation to Chung, however, two other public split-ups, the breakup of Woody Allen and Mia Farrow, and the separation of actors Tom Cruise and Mimi Rogers, were very closely followed by only 3% and 2% of the public, respectively, at the time.
person to a foreign corporation ("outbound" transfers described in section 367(a)), (ii) certain transfers of stock or assets of a foreign corporation to a foreign or domestic corporation ("foreign-to-foreign" or "inbound" transfers described in section 367(b)), and (iii) certain distributions otherwise governed by section 355 (relating to tax-free spin-offs, split-offs, and split-ups), also under section 367(b).
corporations to foreign persons in certain otherwise tax-free spin-offs, split-ups, split-offs and liquidations of controlled subsidiaries.