The commercial objectives of parties may change over time, or could be adversely affected by changes in the legislative and regulatory environments in which our clients operate. There are many examples of this. Individuals who previously funded their businesses with loan capital in some instances became subject to donations tax as result of changes to tax legislation. Certain tax-exempt dividend yielding investments became taxable. The after-tax value of distributions to shareholders have reduced dramatically as a result of dividends taxes. There will no doubt be many more changes in the future that will have an economic effect on transactions.

We are able to assist our clients to understand and manage adverse consequences brought about by legislative changes. Our structuring expertise allows us to restructure transactions where it becomes necessary to accommodate the original or revised objectives in an efficient manner.