17th February 2021
Two MSI member firms, schochauer ag (Switzerland) and Schmidt Brunet Litzler (France) successfully worked together on a transfer of shares for Saudi client.
A French company with a Saudi beneficial owner living in Monaco was advised by the long-standing French MSI member Schmidt Brunet Litzler in Paris on the transfer of its stake in a Swiss corporation to an affiliated company with registered offices in Manamah, Bahrain.
The Swiss MSI member schochauer ag, St. Gallen, assisted not only Schmidt Brunet Litzler in all Swiss law related aspects of that share transfer but was also entrusted with orchestrating all related corporate actions, which included the dismissal of an existing and the election of a new board member as well as a dividend distribution prior to the share sale.
Given that the new board member has his domicile in Beirut, assistance was required of a colleague in Beirut who was introduced by Schmidt Brunet Litzler, and who eventually had to get documents for the filing in Switzerland legalised by a Beirut notary public and super-legalized by the Swiss Embassy in Beirut. An indeed truly multilateral story!
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