The conversion of the company shall not result in the creation of a new juristic person and the company shall continue after its conversion to retain all its rights and liabilities that preceded the conversion. The conversion shall not discharge the joint partners from the liabilities of the company preceding the conversion unless the creditors agree to such discharge. Such agreement shall be assumed if a creditor does not object, in writing to the conversion within thirty (30) days of the date of being officially notified of the resolution of conversion or its publication in accordance with the procedures prescribed by the Regulations. If any creditor raises an objection to the Registrar against the conversion of the company, the proceedings shall not be completed except upon repayment of the debt, or acceptance by the creditors of the continuity of the previous guarantees provided by the joint partners or the company has obtained a decision from the competent court rejecting the objection.
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