The converted company automatically inherits all legal rights and interests, is responsible for all debts, including tax debts, labor contracts and other obligations of the converted company. In the case of conversion from a private enterprise to another type of enterprise, the converted company will automatically inherit the rights and obligations of the owner of the private enterprise from the date of issuance of the Registration Certificate. business registration. In addition, the owner of a private business is personally liable with all his assets for all debts incurred before the date the converted company is issued the Certificate of Business Registration.