Below are some examples of recent work that we have handled
on behalf of our clients:
property management company – restructuring of
shareholdings
We recently acted for a property management company, which had
been handed over to the residents following the sale of the last
property on the development and the transfer of the freehold from
the developer to the management company.
Due to an error in the transfer, the developer remained a
shareholder in the company that neither he nor the residents
wanted.
We looked into possible solutions, and advised that the
developer’s shares were transferred to two of the residents, with a
further share issued to each resident so all residents had an equal
holding of two shares each. This solution was acceptable to the
developer and the company so we put this into action.
The benefits to the management company are that the residents
now each have an equal shareholding in the company, and the
developer no longer holds any shares in the company.
sale of a business with no statutory books
We recently acted for the seller of a company’s shares where the
statutory books had been lost. This meant there was no evidence of
our client’s ownership of the shares.
The solution was to reconstitute the statutory books using
Companies House and records, including board minutes and stock
transfer forms, provided by our client.
Our client now had proof of ownership of the shares and was
complying with company law obligations on the keeping of statutory
registers and records. Failure to comply can lead to criminal
penalties for company officers - so our client was relieved to have
everything brought up to date.
