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SUFC: The Future SUFC up for sale

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hlane17 said:
Nobody knows for sure. It appears they are quite keen to keep their shareholders and directors unknown.
Click to expand...
That's the benefit of having a company registered in the BVI. On top of the 0% corporate tax rate, a company registered there does not have to:

  • state its objectives
  • reveal its legal structure
  • file its accounts and other financial info
All a bit shady really.
 
Medway Blue said:
That's the benefit of having a company registered in the BVI. On top of the 0% corporate tax rate, a company registered there does not have to:

  • state its objectives
  • reveal its legal structure
  • file its accounts and other financial info
All a bit shady really.
Click to expand...
One could say that someone does not usually register in the BVI with the interest of being open and transparent about their dealings.

If the latest filings have been interpreted correctly, SUFC is now owned/controlled by a completely anonymous entity. A tad concerning really while we hope and wait for a rescue from new ownership.
 
We can speculate why the transfer to place.
Given the subsidiary of a subsidiary of MD was wound up, it might be that it was decided best to remove MD from the joint ownership with Merzcal for a reason related to this.
Or it might be that it was desired to have the ownership of SEL (the owner of the club) in a single ultimate entity (so MD or Merczal or a NewCo).
Presumably now a third party could buy the club by simply buying Merzcal Investments or SEL from Merzcal Investments.
Does buying the club via on offshore entity provide benefits to buyer, seller or both.
Seems to me these are the questions that follow?
 
kentblues said:
We can speculate why the transfer to place.
Given the subsidiary of a subsidiary of MD was wound up, it might be that it was decided best to remove MD from the joint ownership with Merzcal for a reason related to this.
Or it might be that it was desired to have the ownership of SEL (the owner of the club) in a single ultimate entity (so MD or Merczal or a NewCo).
Presumably now a third party could buy the club by simply buying Merzcal Investments or SEL from Merzcal Investments.
Does buying the club via on offshore entity provide benefits to buyer, seller or both.
Seems to me these are the questions that follow?
Click to expand...
If the club is sold then the money will flow upstream to Mezcal where it will be booked as revenue and no tax will be paid. SUFC has debt to be paid, SEL has debt to be paid.

All that will net off and Mezcal (probably Ron) will get the rest and HMRC will get nothing.
 
hlane17 said:
One could say that someone does not usually register in the BVI with the interest of being open and transparent about their dealings.

If the latest filings have been interpreted correctly, SUFC is now owned/controlled by a completely anonymous entity. A tad concerning really while we hope and wait for a rescue from new ownership.
Click to expand...

Something for Paul F @Shrimperstrust to bring up tomorrow or is that meeting now not happening!?
 
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