30 July 2010
Restructuring: Taxaccord Limited report
B P Collins acted for Taxaccord Limited in connection with a restructuring relating to Taxaccord Limited, a UK company, and its associated companies in the US and The Netherlands.
The Taxaccord companies are a group of professional consulting companies which specialise in the design, development and implementation of tax technology and process improvement in the form of automated tax solutions for major global corporations.
The restructuring involved the incorporation of a new holding company in the British Virgin Islands, Taxaccord Holdings Limited, and the transfers and allotments of shares so that the existing companies became subsidiaries within the same group. The shareholders of Taxaccord Holdings Limited also entered into a shareholders' agreement containing provisions concerning, amongst other things, restrictions on share transfers and issues.
B P Collins worked alongside Farara Kerins, a law firm in the British Virgins Islands, who advised the companies on the application of the law on the transaction in respect of that jurisdiction.
Francois Chadwick, CEO of Taxaccord, expressed his "strong gratitude for the direction provided by Vicky and her team at B P Collins. We always knew where the project stood at any particular time and we could rely on the team to ensure that it was driven to success" he stated.
The legal team:
Victoria Holland, senior associate