To fly in the face of adversity takes courage but sometimes it can simply mean having a keen eye for an opportunity. As we emerge from the darkest period of uncertainty in most lifetimes, there are often windows of opportunity to be taken advantage of and which may not always be obvious or at the forefront of our minds. As the saying goes ’every cloud has a silver lining’.
We have seen a surge in Pension Holders wanting to move assets from Companies into A Small Self-Administered Scheme (SSAS) or Self Invested Personal Pension (SIPP); taking advantage of the leeway (although probably temporary) in determining commercial property valuations along with record low interest rates. The last three months has brought business vulnerabilities of all kinds into sharp focus, one of which is where the company owns all of the assets, therefore placing the owners fully exposed in an insolvency situation. Similarly, it may be sensible as part of an exit strategy to strip certain valuable assets from the Company whilst not impacting negatively upon the sale value. The other scenario is to transfer the asset for a modest consideration into your Pension SIPP or SASS. With attractive tax relief this could be an important retirement strategy.
If acting for a Pension Fund, experience of dealing with the requirements of the corporate trustee is vital. Often limitation clauses will be required as standard as well as full unqualified reports on title and a commercial lease on commercial terms on Completion. It is vital that the Lawyer has sufficient experience of handling these transactions to ensure a timely transaction.
At O’Donnell Solicitors our Corporate and Commercial Property team comprises expert Lawyers in this field who are equipped to handle the most complex of Commercial Property and refinance transactional work. Acting on behalf of Lenders, individuals and Corporate clients alike we offer Straight Talking Advice whilst maintaining a keen eye for detail.
There certainly is still a world of opportunity out there for the those who have managed to tread water and can now take commercial advantage; whether that be refinancing of their debts, acquisition of distressed assets and/or businesses or to restructure their affairs to mitigate against the risks of a repeat of the last three months.
Working with other leading professionals, our commercial team are able to facilitate the quick progress of a deal to help deliver the goal of the parties involved.
Recognised as a leading firm in the North West and one to watch, O’Donnell Solicitors offer straight talking Legal Services from modern offices in Saddleworth, East Manchester.
To access our Commercial Property and Commercial/Corporate Law services please contact James O’Donnell at our head office at Appleby’s Business Centre, 1-3 Mossley Road, Saddleworth, Grasscroft on 01457 761 320 or email James O’Donnell at email@example.com Web: www.odonnellsolicitors.co.uk