In some non-EU countries in which the Directive has not yet been implemented or has not yet entered into force, such as Croatia, certain alternative scenarios to cross-border mergers have been considered. In one such scenario, a corporation is transformed into a limited or general partnership, followed by exit of all but one (foreign) shareholder. With this step, the last remaining (foreign) shareholder ultimately assumes all the assets and liabilities of the partnership, which effectively means a universal legal succession of assets and liabilities of the partnership by the foreign entity.
