Setting Up a Limited company

tigger wrote:

Chris wrote:

Keela wrote:I am not setting one up, the only reason I asked is that the Mccanns set up a Ltd coy quite quickly. Was there time to do everything and all searches and obtaining information in the time they had? and it would have to have been via the internet. did Gerry have his laptop with him or did he borrow one along with the internet connection. If he had a laptop with him, why? He was supposed to be on holiday.

He could have done it quicker than he did.

If you go to Mccannfiles.com and google Enid O'Dowd, you'll get a comprehensive analyses of the Fund, how it was set up and questions about why the charity status wasn't an option. The story the mcCanns give out about the reason to make it a Company doesn't quite ring true. Ms. O'Dowd is a chartered accountant.

While the analysis covers some areas others are maybe overlooked. I would have thought some discussion on related party transactions might be warranted. Disclosure and quantification is a legal requirement unless avoided on grounds of materiality (unlikely?). Ms O'Dowd makes reference to a possible discloure required for future liability but stops there. No related party transactions are disclosed yet at the very least the legal fees in Portugal are perhaps deserving of mention as indeed is the taxation status of of those fees given that they appear to be the pecuniary liability of those taking the action who are also directors.