The effect of the merger, either by way of absorption or by way of amalgamation, is universal legal succession. Universal legal succession means that all of the assets and rights, as well as obligations, liabilities and contractual relationships of the transferring company, are transferred to the absorbing company. However, „inherent rights“, i.e. strictly personal rights attaching to the transferring company, are not transferable. Any such rights will cease upon registration of the merger (i.e. withdrawal of the transferring company from the registry of companies).
