Legal Due Diligence · glossary
Someone registered as the owner of an asset on behalf of someone else, usually under a declaration of trust. One share in Solaris's Polish subsidiary is held by a former director as nominee for Solaris. Its transfer became a completion deliverable. Report §3.3 · Chapter 6
Explained in Chapter 6, Corporate and Title, of Legal Due Diligence.
Also explained in Venture Deals.
One share in the Polish subsidiary, Solaris Tech Services sp. z o.o., is registered to a former director, not to Solaris. On its face, an outsider owns part of the company that owns Helia. The papers behind the register solve this. The former director is a nominee, registered as owner on behalf of someone else.Read Chapter 6, Corporate and Title →
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