02 July 2012
Restructuring: Gallowglass case report
Gallowglass Limited is a market leading crewing and consultancy company for the events industry for whom B P Collins LLP has been a trusted advisor for a number of years.
B P Collins LLP advised Gallowglass Limited in connection with a restructuring the client decided to undertake in order to split the crewing and consultancy arms of the business into two distinct groups. The cross-border restructuring involved hiving-off the business operated through various subsidiaries so that the crewing work was transferred to sit under one holding company and the consultancy work under another.
Shares in the various group companies were transferred and exchanged and an ultimate holding company was then put in place so that the separate business groups fall within one group structure.
Tax clearance had to be obtained in relation to the restructuring and B P Collins LLP liaised with Kingston Smith in this regard.
Victoria Holland, partner