ASK & DISCUSS
INDEXSPV company shut down and transfer of rights to production company
2 years, 1 month ago - Margaret Milner Schmueck
Hi, We have made our film and are now looking to shut down the SPV company once the tax credit has been received. We will need a contract to transfer/ assign rights from the spv to the production company. Does anyone have a simple agreement they would be happy to share that takes care of all rights and obligations from the spv across to another company? Many thanks in advance !!production
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2 years ago - Chris Chandler
I'm not sure that there is a simple single agreement for this - it seems to me that this is something that really needs a lawyer involved. Was the SPV owned by your company in its entirety? If so, there may be a simple(ish) way of winding it up and transferring all rights and obligations to the parent company. In general (and sorry if I'm covering stuff you already know) SPVs are preserved for quite some time to ensure that income is attributed correctly to investors and any other parties. Sorry not to be more help!
2 years ago - Rachael Evans
Hi Margaret,
I have a brief guide and sample but as touched upon by Chris, there are questions over asset value, taxation, and theoretical purchase price. I'm happy to send over the document I have. It's light, 4 pages in total, and I would recommend legal/ financial advice as it is not as straightforward as it appears. If you want the guide, feel free to message me your email address and I'll send it to you.
2 years ago - Margaret Milner Schmueck
Thanks Rachel, I have messaged you.
2 years ago - Margaret Milner Schmueck
Hi Chris,
Thanks for your response and apologies in the delay in responding, to answer the Q's you raised I own both the SPV and the production company in entirety. I did start to involve a lawyer but I felt he unnecessarily start to complicate things like assuming the contracts could not be re-assigned which they all contain a clause to re-assign. I know that rights and obligations can be easily transferred. I will let you know how I get on !!
Regards, Margaret