Merlin Trust - Update August 2020
The buyers of the Merlin assets have instructed the required notary and their tax advisers - PWC in Spain - to work with us to prepare all of the required documentation to execute the sale of all Merlin assets with a view to signing the paperwork in the first half of August.
There are some challenges, as Spanish law requires legalised and apostilled documents to be prepared and signatories to physically attend the notary office in Seville to achieve a closing. We are working to achieve all we can within the constraints caused by the governmental response to the pandemic. We will aim to provide an update as soon as we have a firm completion date scheduled.
Beneficiary Documents
The trustee of Merlin Fund Trust wrote to all beneficiaries in May to request beneficiary information in accordance with regulatory requirements in Malta, where the trust is registered. You will recall that there was no specific deadline for completing and returning the documents due to a number of factors, not least the challenges created by the ongoing Covid-19 outbreak which has led to a serious disruption to all of our everyday lives. However, we also made all beneficiaries aware that the trustee would be unable to authorise payments to any account which had not submitted their beneficiary documents.
We would like to thank all of you who have gone to great lengths in some cases to arrange for these documents to be completed and returned as directed by the Trustee so far.
We would also kindly remind those who are yet to return their beneficiary documents, to do so in light of the positive update above. Please refer to the Document FAQ section of this website for guidance on how to complete and submit these documents.
If you have not received or you have mislaid your beneficiary document instructions, please contact Best Administration Services as below, who can arrange for these to be resent to you.
UK Admin Support Contact +44 (0) 1565 656315
Best Administration Services Limited info@bestadmin.co.uk
If you have questions about the operation of the Trust or need assistance with submission of your AML and/or Bank Details, then you should contact the Trustees in Malta directly, with the following details:
Professional Trustee +356 23715156
Trident Trust Company (Malta) Limited tmaltrustfundinfo@tridenttrust.com