PwC will at no cost to you provide initial advice on how to best shape this type of project and point out the many potential pitfalls. Once engaged, we undertake a preliminary review of the identified surplus entities and advise on the most appropriate route to eliminate them.
The review will also identify issues that need to be addressed prior to dissolution, and allow the specific allocation of responsibilities for resolving these. We can tailor our involvement to match your specific needs and resources. We have the experience and knowledge to manage projects from start to a complete finish.
Potential issues
- Are you wasting a significant amount of revenue per annum on each redundant entity that has no added value to your business?
- Are you wasting senior management time on dealing with the corporate governance requirements related to inactive entities, when you could be spending your valuable time on live business issues?
- You have large numbers of empty companies without apparent business purpose, which could be a concern to stakeholders and regulators
- Following recent mergers and acquisitions, are you now wasting money by not eliminating redundant group structures?
- You need to simplify your corporate structure to release capital tied up in the business
We provide corporate simplification services for organisations that need to save on operating costs and achieve a simplified more transparent corporate structure by eliminating inactive companies that have fulfilled their economic purpose.
How we can support you
- Help eliminate recurring and wasted corporate governance expenditure
- Reduce the risk of perceived corporate governance failures
- Free up senior management time spent dealing with corporate governance issues
- Costs can typically be recovered within 12 - 15 months where batches of companies are being eliminated simultaneously
- Our technical excellence and proven project management methodology ensure a smooth process for your organisation through to conclusion
PwC's corporate simplification services cover three steps
- Pre-liquidation review
- Resolving issues identified in the pre-liquidation review, tailoring our support to clients' resources.
- Formal liquidation process, which must be undertaken by a licensed insolvency practitioner.
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