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Solvent Restructuring
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It is part of the normal business cycle for a successful business to need to restructure for a range of purposes. The reasons for this may be operational or to obtain tax advantages and may include the sale of all or part of the business, the segmentation of the business or the closure of a shell or dormant company.
As part of these processes one or more companies may be surplus to requirements and a s652 dissolution or a Members' Voluntary Liquidation may be the most appropriate way of disposing of the company. |
- a s652 dissolution is a simple process which allows a company with no assets and no liabilities to be dissolved under the Companies Act;
- a Members' Voluntary Liquidation is a shareholder driven procedure, which affords a tax efficient method for distributing the assets of a company.
A Members' Voluntary Liquidation can only be undertaken by a Licensed Insolvency Practitioner and, within that, a distribution can be of cash, assets in specie or of shares in newly formed companies as part of a S11O reconstruction.
We have a raft of experience in this area and can call on the skills of our specialists in PEM to advise on all aspects of s652 dissolutions, Members' Voluntary Liquidations and S110 reconstructions which can be a tax efficient way of reconstructing a company or group. We can also call upon the support of our award winning tax team with whom we work very closely in this area.
Our teams include licensed Insolvency Practitioners who pride themselves on their ability to listen to you, understand the position and recommend appropriate and commercial solutions. Our approach is to offer a free and confidential initial interview to establish the facts of the situation.
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