ADCO Law managed to carry out a restructuration of a group of mining companies which previously comprised of 9 companies, 4 of them were no longer operational due to various reasons. Despite the non-operational status, the existence of these companies was still needed since they were holding shares in other companies within the group.
We advised the company to restructure and simplify the company/group structure from 9 to 4 companies. The process was not merely closing down the company because we had to transfer/consolidate shares from the closing companies to the other companies both onshore and offshore. Working along with the tax consultant, we formulated and executed the most tax-efficient route of the group reorganization.