s. 352 (a) the transfer to the transferee of the whole or a part of the undertaking and of the property or liabilities of the transferor; (b) the allotting or appropriation by the transferee of shares, debentures, policies or other interests in the transferee that, under the compromise or arrangement, are to be allotted or appropriated by the transferee to or for any person; (c) the continuation by or against the transferee of any legal proceedings pending by or against the transferor; (d) the dissolution, without winding up, of the transferor; (e) the provision to be made for any persons who, within such time and in such manner as the Court directs, dissent from the compromise or arrangement; (f) the transfer or allotment of any interest in property to any person concerned in the compromise or arrangement; (g) such incidental, consequential and supplemental matters as are necessary to ensure that the reconstruction or merger is fully and effectively carried out. (4) If an order made under this section provides for the transfer of property or liabilities, then, by virtue of the order— (a) the property is transferred to and vests in the transferee, free, in the case of any particular property if the order so directs, from any charge that is by virtue of the compromise or arrangement to cease to have effect; and (b) the liabilities are transferred to and become the liabilities of the transferee.
(a) the transfer to the transferee of the whole or a part of the undertaking and of the property or liabilities of the transferor; (b) the allotting or appropriation by the transferee of shares, debentures, policies or other interests in the transferee that, under the compromise or arrangement, are to be allotted or appropriated by the transferee to or for any person; (c) the continuation by or against the transferee of any legal proceedings pending by or against the transferor; (d) the dissolution, without winding up, of the transferor; (e) the provision to be made for any persons who, within such time and in such manner as the Court directs, dissent from the compromise or arrangement; (f) the transfer or allotment of any interest in property to any person concerned in the compromise or arrangement; (g) such incidental, consequential and supplemental matters as are necessary to ensure that the reconstruction or merger is fully and effectively carried out. (4) If an order made under this section provides for the transfer of property or liabilities, then, by virtue of the order— s. 352 (a) the property is transferred to and vests in the transferee, free, in the case of any particular property if the order so directs, from any charge that is by virtue of the compromise or arrangement to cease to have effect; and (b) the liabilities are transferred to and become the liabilities of the transferee.
96-84a036.docx