Jurisdictions involved
South Africa, USA, South America, British Virgin Islands, Isle of Man
The business and background
The group of liquidated companies operated as offshore holding companies managing a significant Family Trust’s interest in local and international investments. The reported assets had a book value of circa £200m.
The companies were placed into liquidation in March 2015 with a remit to review, rationalise and realise the various companies’ interests in assets/investments.
A complex forensic analysis was required to piece together the companies’ complicated and opaque ownership structures to realise assets for the benefit of stakeholders. Those assets included a significant investment in the shares of a UK AIM listed Plc, an investment into a South African coal mine, and investments in data centres.
What we did
This assignment involved the unravelling of complex offshore investments to realize value for stakeholders including reviewing and realising funding asset structures for the benefit of stakeholders, the recovery of assets previously written off as irrecoverable, and the pursuit of offshore individuals seeking to avoid repayment of loans due for repayment.
The outcome
Unravelling the complex offshore investments meant we were able to realise value for stakeholders, reviewing and realising funding asset structures for the benefit of stakeholders. The estimated recoveries from this assignment were more than £33m.
