Global Private Equity Report 2013/14
We are pleased to announce that the third annual global private equity report 2013/14 has been released.
Disposal of Subsidiary
On 6 August 2013, by Act of the Royal Court of Guernsey, Mission Real Estate Investment Funds PCC Limited (“the Company”) was ordered to be compulsorily wound up. Alan John Roberts of Grant Thornton Limited, PO Box 313, Lefebvre House, Lefebvre Street, St. Peter Port, Guernsey Channel Islands GY1 3TF was appointed Liquidator for the purpose of such winding up
The Company holds 100% of the share capital of Residenze in Val d’Orcia S.r.l (“RVD”). RVD is a property holding special purpose vehicle, which owns Podere Montale, a real estate property located in the municipality of Seggiano in Tuscany, Italy (“the Property”). The Property comprises six two-bedroom apartments and garage space at lower ground floor level, as well as its own grounds and dedicated swimming pool.
The Property was formally valued in March 2011 and was given a market value of €1.9 million at that time. The Property is subject to a mortgage. The total liabilities of RVD including the mortgage were understood to be approximately €1.0 million as at 31 December 2012.
I am seeking to dispose of the shares in RVD and would therefore invite all parties to contact me should they wish to discuss this further.
A J Roberts
A Special Announcement to Banesto Holdings ShareholdersClick Here (Password Protected)
Grant Thornton named International Accounting Bulletin's Network of the Year
Ed Nusbaum, global CEO of Grant Thornton, said of the award win, "I am proud of this award, but all credit goes to over 35,000 Grant Thornton people in more than 120 countries for their commitment and hard work in providing high quality services to our clients and in helping them unlock their potential for growth."
2012 saw Grant Thornton grow faster (10.4%) than the other largest global accounting networks and provide thought leadership on critical global accounting issues such as lease accounting, revenue recognition, EU auditor reform, corporate governance and improving the auditor's report.
The award, which was judged by an independent panel, was based on a firm's ability to demonstrate their strength across a number of key areas including: evidence of top-level network-wide audit quality; a strengthened position in strategically important markets; and strong industry leadership.
Dave Clark, managing partner of Grant Thornton Channel Islands, said "Grant Thornton has a strong reputation globally for helping dynamic businesses and this award demonstrates our consistent and high level of expertise across key areas such as evidence of client satisfaction and strategic positioning."
"In the Channel Islands our personal services are tailored to each client's needs as we strive to help them unlock their potential. We offer a wide range of services including; tax, audit, business advisory, recovery and reorganisation, accountancy, and business risk; and we provide clients with hands-on support and actionable advice."
We've strengthened our Tax team
Neil Hoolahan | Senior Manager
Neil specialises in all aspects of UK tax compliance and advice undertaken for Trusts and Offshore Companies, and in UK taxation of employee benefit trusts and pension schemes. He undertakes reviews of existing structures to ensure they are fit for purpose, and proposes restructuring where required to ensure maximum tax benefits.
Neil has undertaken a number of large voluntary disclosures of historic undeclared income and/or gains, and arranged settlement with HMRC to ensure the least disruption to the beneficiaries' personal position whilst discharging the trustees' liabilities. He also specialises in FATCA and the implications for local businesses to implement cost-effective ways of dealing with the regulations.
We've strengthened our Recovery and Reorganisation team
Ben Rhodes | Senior Manager
Ben is a qualified Chartered Accountant and Insolvency Practitioner, with over ten years experience in insolvency and restructuring work with a leading London firm. He recently completed a 12-month secondment to a major UK clearing bank, where he worked in the restructuring team.
Guerney's fraud legislation makes the Island a top-ranking jurisdiction in its prevention and detection.