Law firm Ashfords successfully completed the complex multi-staged demerger for Cattran Trading Limited to create seven new companies, one for each sibling. The transaction, which completed at the end of 2013 was led by Angus Bauer, Corporate Tax Partner, Jane Ireland, Corporate Associate and Clare Werry, Corporate Associate. The team provided the Cattran family with detailed, innovative legal advice of the highest quality.

Cattran Trading Limited was incorporated in 31 July 2006 and owned by the seven siblings of the Cattran family. With each of the siblings actively involved in the business, over time they developed different business interests, priorities and agendas. Cattran Trading incorporated a number of different businesses that form part of the Cornish landscape including Duke Street Café in Penzance, The Old Chapel Backpackers at Zennor and Queen Street parking on the Isles of Scilly. The challenge presented to Ashfords was how to separate these different businesses to enable each sibling to pursue their own interest and maximise their individual potential.

"The quality of advice and the service Ashfords provided was second to none. They provided us with a personal service and ensured that every member of the family party was completely satisfied with the result" said Henrietta Whitelock.

In a transaction that could only be described as mammoth, with the multiple stages taking place over a period of six months, more than 4000 documents were individually drafted and prepared by Ashfords. The Ashfords DataRoom (a bespoke document management system developed in-house by Ashfords to meet ongoing client needs) played a key role in the success of this transaction, enabling the Ashfords team to facilitate the review of the tremendous number of documents involved by all the stakeholders.

Angus Bauer, Corporate Tax Partner at Ashfords said "Complex transactions always contain many layers and Ashfords' large multi-disciplined team has specialist expertise to assist with all aspects of these transactions including tax, corporate, property and employment issues. The team regularly deals with challenging company matters, providing a fully integrated and seamless delivery across all practice groups to ensure its client service is second to none."  

For more details, visit www.ashfords.co.uk