This article offers an interesting insight into the plight and response of 3 different types of UK businesses as they navigate current uncertainties.
The existential problem of Brexit appears to have been dwarfed and contextualised by the greater reach and resonance of the COVID-19 pandemic.
Adaptation and diversification, however, seem to be the watchwords in addressing upheaval, whether Brexit, pandemic-related or otherwise. It is no surprise, therefore, that much of the work we are currently seeing involves restructuring of financing arrangements and streamlining of corporate structures, with many of our clients emerging positively from the changes.
As a fully compliant jurisdiction, drawing on the inherent fairness and robustness of our common law system (whilst maximising the practical and legislative flexibility afforded by being a smaller, autonomous territory), there are a myriad of options available in Gibraltar with respect to the repatriation and restructuring of assets (including with or without availability of distributable reserves) as well as the winding-up of structures (whether by way of liquidation, merger under our domestic legislation, redomiciliation by way of continuation, or a combination of the same).
Uncertainty (whilst worrying) can be grasped as an opportunity for positive change.
Leaving the European Union was supposed to be the most challenging time for Britain’s chief executive officers. Then, of course, came the coronavirus pandemic.