Finance
Bank reorganisations
We have acted for a number
of banks and financial
institutions on the reorganisation of the corporate
structure of their UK, European and worldwide businesses. This
included reorganisation using Court schemes under the Financial
Services and Markets Act 2000.
We advise on the documentation required
internally to establish new subsidiaries or branches and to get
them authorised and passported where needed. Our tax and financial
services teams provide the tax and regulatory advice which is now
an integral part of almost all reorganisations, and is often the
driver for many.
We also work on the implementation of the
reorganisation, from the arrangements and documentation with
counterparties and customers to the transfer of businesses
from one or more entities to another. This can involve complex
issues, especially as transactions and products become
increasingly diverse.
Often there are cross-border implications to
consider, even on the implementation in the UK of what perhaps is,
under a foreign law at least, a relatively straightforward matter
of “universal succession”.
For reorganisations with an international
dimension, we have at our disposal long-standing relationships
with Japanese, US and other overseas law firms.