Financial Assistance

Until the provisions relating to financial assistance in the Companies Act 2006 are effective (estimated October 2009) both private companies and public limited companies are prohibited from giving financial assistance save in certain circumstances.

If you are raising finance to buy the shares in a company then you may be required to comply with the “whitewash” procedure to ensure that the company complies with its statutory obligations.

We have experience of preparing the necessary documentation that you will need and are used to working closely with your accountants to ensure that time frames are met.
 

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