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Tax and Jurisdictions

February 24, 2010

David Simon doesn’t mince his words. When rival company General Growth Properties rebuffed his $10 billion offer to buy the business out of Chapter 11 bankruptcy proceedings, Simon penned a sharply worded letter to Adam Metz, his counterpart as chief executive, writes Darrell Delamaide

David Simon doesn't mince his words. When rival company General Growth Properties rebuffed his $10 billion offer to buy the business out of Chapter 11 bankruptcy proceedings, Simon penned a sharply worded letter to Adam Metz, his counterpart as chief executive, writes Darrell Delamaide.

January 8, 2010

The new year provides the perfect occasion for family businesses around the world to assess their 2009 performance, attempt to learn the lessons of the recession and work out how best to seize the opportunities 2010 presents. It is also the time for www.campdenFB.com to review the outgoing year and look forward to the possibilities of 2010, writes Katie Barker

The new year provides the perfect occasion for family businesses around the world to assess their 2009 performance, attempt to learn the lessons of the recession and work out how best to seize the opportunities 2010 presents. It is also the time for www.campdenFB.com to review the outgoing year and look forward to the possibilities of 2010, writes Katie Barker

October 26, 2009

Family offices have been hit hard by the collapse of once reputable institutions and the exposure of fraudulent financial schemes. The question now is how to mitigate risk in the future and invest again with confidence?

The impact of the collapse of Lehman Brothers and similar financial institutions on family offices last year was profound. In particular, family offices are reviewing the standards of regulation in jurisdictions where they hold assets. If there are perceived weaknesses in supervision, they are moving their holdings to other, more scrupulous centres.

September 17, 2009

The aftermath of the financial crisis has seen many people talk about the world changing forever, but few have come up with any credible, long-term solutions that are ready for implementation.

The aftermath of the financial crisis has seen many people talk about the world changing forever, but few have come up with any credible, long-term solutions that are ready for implementation, writes Marc Smith.

As policymakers and regulators grapple with how best to curb excessive risk taking, improve warning systems and generally clean up a bloated, rotten system, families of substantial wealth have been coming to terms with losing significant sums of money.

September 17, 2009

In the US, if you are a wealthy individual, you would not walk across the road without taking your lawyer, tax advisor, accountant and therapist with you. The wealthy Asian individual, however, will walk across the road on his/her own.

In the US, if you are a wealthy individual, you would not walk across the road without taking your lawyer, tax advisor, accountant and therapist with you. The wealthy Asian individual, however, will walk across the road on his/her own writes Christian Stewart.

Asia has a different culture in terms of the use of external professional advisors, and this has some impact on the succession process. For example, most Asian families do not have a family shareholders agreement or "exit plan".    

August 14, 2009

Italian tax authorities are investigating the Agnelli family, owners of the car manufacturers Fiat, after allegations were made that Gianni Agnelli, the late Fiat chairman, hid €1 billion of undeclared assets in Swiss bank accounts.

Italian tax authorities are investigating the Agnelli family, owners of the car manufacturers Fiat, after allegations were made that Gianni Agnelli, the late Fiat chairman, hid €1 billion of undeclared assets in Swiss bank accounts.

August 4, 2009

Creative thinking and greater efficiency can counter some of the challenges facing family offices during the crisis according to a leading family office lawyer.

Creative thinking and greater efficiency can counter some of the challenges facing family offices during the crisis according to a leading family office lawyer.

August 3, 2009

Switzerland and the US reached an agreement on Friday over the long-running tax evasion case between the US government and UBS.

Switzerland and the US reached an agreement on Friday over the long-running tax evasion case between the US government and UBS.

Details of the settlement have not yet been disclosed but US media reports suggest UBS will be forced to reveal the names of thousands of private banking clients, including wealthy families, who hold offshore accounts in Switzerland.

July 30, 2009

The financial crisis has changed the financial services industry as we know it. Markets are focusing more on risk management, stock markets are volatile and corporate bonds not as safe.

The financial crisis has changed the financial services industry as we know it. Markets are focusing more on risk management, stock markets are volatile and corporate bonds not as safe. The credit rating agencies, relied on by regulators under the Basel II capital adequacy regime for banks, are discredited, and global regulation faces restructuring. The Basel Committee is revising its capital adequacy standards, and there are moves in the US and Europe to set up bodies overseeing systemic risk. 

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