INSTRUMENTELE JURIDICE DE VÂNZARE A BUSINESSULUI ÎN PROCEDURA DE REZOLUŢIE BANCARĂ
LEGAL TOOLS FOR SELLING YOUR BUSINESS IN BANK RESOLUTION

Summary/Abstract: By the instrument of sale of business, the National Bank of Moldova shall exercise its power to transfer shares and other instruments of ownership, issued by an institution under resolution, or any of its assets, rights, or obligations, without the consent of the shareholders or any third party other than the purchaser. This instrument is not subject to a procedural requirement under applicable company or capital market law. The transfer is carried out on commercial terms, based on its guarantee through the issuance by the Ministry of Finance of state guarantees and state securities, adopted by Government Decision. At the same time, the National Bank of Moldova shall be entitled to transfer, repeatedly, in order to effect additional transfers of shares or other ownership instruments issued by a bank under resolution or, as the case may be, of assets, rights or obligations of the bank under resolution. Therefore, a transfer of shares or other instruments of ownership, occurring by virtue of the application of the sale of business instrument, would result in the acquisition or increase of a share in the bank's share capital. In this context, the National Bank of Moldova shall carry out the necessary assessment so as to allow the prompt application of the sale of the business instrument and to facilitate the resolution action to achieve the relevant objectives of the process. On this basis, the purchaser is deemed to be the legal successor of the bank under resolution and may continue to exercise any such rights exercised by the bank under resolution in relation to the assets, rights or obligations transferred, including in respect of intellectual property rights. Shareholders or creditors of the bank under resolution and other third parties whose assets, rights or obligations are not transferred shall have no claim on or in connection with the transferred assets, rights or obligations.

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