Group Structure Simplification

In August 2012 we were asked to advise the directors of a group consisting of no less than 17 companies, 2 of which were registered in Hong Kong. Following the close down of the Hong Kong companies we undertook the solvent winding up (MVL) of 8 of the UK based companies and as a result streamlined the group down to 7 companies.

The 7 liquidations resulted in a significant return of capital to the remaining companies with the further benefit of the restructure being a drastic reduction in future compliance costs.  

Byrne Associates supported Littlefuse Inc with the solvent liquidation of its UK subsidiary. All matters were handled in a professional manner, including dealing with tax authorities, creditors and directors. I would be happy to recommend this family run firm of licensed Insolvency PractitionersAlan Phillips (Littlefuse Inc )