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