Chapter IFM12289

Published date05 July 2019
Record NumberIFM12289

An investor may have invested in a company or other arrangement which subsequently goes into liquidation, at which point the investor might reasonably expect to realise their investment at net asset value. However, if a company or other arrangement is outside the definition of an offshore fund before it goes into liquidation, then being in liquidation will not by itself bring that company or arrangement into the definition of an offshore fund. This also applies in the case of self-managed wind-downs with the subsequent appointment of a liquidator to complete the liquidation.

This treatment would also extend to the purchase of shares in a company after it has entered a self-managed wind-down or liquidation. This may not be the case, though, for wind-downs and liquidations that are intentionally extended or contrived.

Some...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT