Webinar invitation: Debt restructuring and corporate reorganisations

During the course of August to November 2020, three senior tax professionals from Bowmans will anchor four interactive sessions on the practical application of tax law relating to debt restructuring and corporate reorganisations. The sessions will also include an interactive debate on key themes emanating from conducting tax due diligences.

They will share past experiences and knowledge, invite commercial specialists and will consider the tax and commercial impact of Covid-19, particularly as it relates to distressed companies. The webinar series aims to provide participants with a sense of the typical commercial drivers and the tax principles that play a role in these topics.

Upcoming webinars in this series:

22 October 2020 – Session 3: Corporate Reorganisations (continued) – click here to book individual session

In the second session on corporate reorganisations, the presenters will continue to explore particular types of transactions that can qualify for tax rollover relief:

– The amalgamation or merger of companies, implemented as a sale of business or in terms of the statutory merger provisions of the Companies Act (’amalgamation transaction’).

– The distribution of underlying share investments (’unbundling transactions’).

– A distribution of all assets in anticipation of liquidation/deregistration (’liquidation distribution’).

– Against the backdrop of the various types of transactions, the team from Bowmans will provide a bird’s eye view of the provisions to identify common threads that may result in some provisions being more preferable than others depending on the circumstances.

25 November 2020 – Session 4: Due Diligence- click here to book individual session

Due diligence procedures are usually undertaken by acquirors of companies, or companies whose shareholders’ wish to exit. A tax due diligence is a complex and sophisticated undertaking requiring both tax law and financial statement disclosure experience.

This session will explore many facets of a tax due diligence and will be presented by specialists in this field with many years of experience. Some of the categories of discussion will include:

– The different approaches required in different types of due diligences.

– A solid starting point – how to scope and plan for a due diligence.

– Access to information – virtual data rooms, information request lists, key questions to ask.

– Assessing the information – typical issues to watch out for and tried and tested methodologies.

– Practical examples from previous experience.

Past webinars in this series:

(A video recording of the below session is available for viewing and will appear on your Tax Faculty profile once purchased).

Debt Restructuring

– An overview of the debt restructuring landscape in South Africa and abroad.

– Insight on how debt restructuring should be undertaken so as not to inadvertently trigger a tax liability that will add to a debtor’s financial woes.

– Suggestions how to best manage the debt benefit taxing provisions in different scenarios.

– Information on the creditor’s position, in particular, its ability to claim an income tax deduction or capital loss.

Corporate Reorganisations

– An overview of Corporate Reorganisation tax rules

– The acquisition by a company of assets in return for the issue of shares (“asset-for-share transactions”).

– Transactions within the same South African group of companies (“intra-group transactions”).

Click here to register for the full series on the Tax Faculty website

Please note:

– Delegates will have the opportunity to submit questions which will be addressed during each session.

– Delegates will earn two hours verifiable CPD for each session.

– The Tax Faculty is an accredited training provider of the South African Institute of Tax Professionals and verifiable CPD credits will be awarded.

For further information please contact Luthando Zenzile or +27 66 300 0300.

Bowmans is a leading corporate law firm with a highly skilled team, track record and geographical footprint to provide both upstream and downstream services to the private equity sector in Africa. www.bowmanslaw.com/service/private-equity