Liquidations - Group Reorganisation and Solvent Liquidation
A solvent liquidation is a legal process by which a solvent company may be wound up and dissolved. Often groups wish to dispose of entities utilising tax efficient methods for distributing assets to shareholders where the underlying business is either ceasing or being restructured.
How we can help
We can provide advice and help to achieve the group's main objectives such as:
- Realise the assets of the company
- Resolve all outstanding matters of the company, including the settlement of claims of all creditors
- Distribute the surplus assets to the stakeholders.
- Our team can assist in all stages of the solvent liquidation process. We regularly act as liquidators of solvent companies initiating and finalising liquidations in a timely and appropriate manner.
If a company is no longer required by shareholders or the holding company it may go into liquidation. Deloitte can help maximise the benefits achieved by this process. These include:
- Group simplification – eliminating dormant legal entities to achieve a more cost efficient company structure
- Savings in audit and accounting costs
- Savings in management time preparing financial information, tax returns and annual returns
- Recognising and avoiding corporate memory loss
- Reducing the number of directorships held personally to improve corporate governance and reduce risk to directors.
Our offshore Directors and Partners have extensive experience in both advising company directors in this regard or acting as liquidator where the company directors have other commitments. For example, where the assets/ liabilities are more complex in nature and the company director(s) would prefer not to undertake the process themselves or where the offshore entity is part of a global restructuring. We frequently work with our colleagues in the UK and around the world in multi-jurisdictional restructurings.
We have considerable experience of, and are able to assist with, the following offshore legal processes:
- Jersey – Summary Winding Up
- Guernsey – Voluntary Winding Up
- Isle of Man – Members Voluntary Liquidation
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