Hive up of negative balance sheet

Hive up of negative balance sheet

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A client had two trading companies and has hived up the subsidiary into topco.  The subsidiary had a negative balance sheet and therefore we are left with a creditor and negative reserves on the subsidiary's balance sheet.  In order to clear this, would it be reasonable to assume goodwill had been transferred up to topco as well and effectively wipe out the negative balance sheet and creditor ?  There would certainly be an argument that the subsidiary did have ongoing goodwill which topco will be able to utilise over future years. 

Any thoughts appreciated.

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