Legal status of the farming industry

Recently the farming industry has undergone a change, which has resulted in the fact that today a farm is considered a manufacturing company on equal terms with other manufacturing companies within the traditional economic life.

Today, the modern farmer is a business manager, and this has induced heavy demands to the advisers of the farming industry.

The practice group “Landbrugets Restforhold” (legal status of the farming industry) consist of competent and highly qualified lawyers and assistants, who all have great knowledge of and experience with agricultural law. Furthermore, the members of the practice group may also add elements of law from other specialist fields.

Thus, the lawyers connected to the practice group have a transaction based access with experience from M&A, as well as qualifications from corporate law, tax law and insolvency law.

The group consists of permanent teams, which works according to special developed methods for project management and with special developed IT management systems in order to be able to administer the cases in the quickest and best way possible – all in the interest of the parties – whether or not the case is administered on behalf of a company owner, a buyer/seller or a bank/creditor.

If necessary we will of course consult external advisers, e.g. in connection with the preparation of manure statements, plans showing fields and crops etc., but our ambition is to be able to handle all tasks within the area.

The practice group is specialized within the following areas:

  • Succession
  • Form of ownership within the farming industry
  • Transfer of farming
  • Professional mentoring and optimisation within the agricultural sector

Succession:
The practice group has assisted in connection with succession regarding both minor and major farms. We wish to create solutions, which will secure both the company, the family and the capital.

In connection herewith it is important to focus on the pre due diligence in order to ensure, that the company is ready for the succession. This work will take place in close co-operation with the parties involved - before the actual succession is commenced.

In the capacity as legal adviser it is important for us to achieve the best possible result for the parties within the framework of the law. Therefore, our focus is on optimizing the seller’s fiscal situation concurrent with easing the buyers financing. Reaching the right overall solution requires dedicated and visionary advisers.

Form of ownership within the farming industry:
The modern farming industry has developed into a modern business. However, the form of ownership has not always developed in the same way.

Our highly specialized team offer advice on choice of form of ownership and establishment of companies.

The counselling is given on the basis of a specific evaluation with focus on matching both the needs of the company and of the owner of the company, the strategy and the prospects for the future.

When deciding on the right form of ownership, we will focus on the fiscal aspects – this is a natural part of our counselling.

Transfer of farming:
We wish to create value whether or not you are the buyer or the seller.

A business transfer requires the correct planning and preparation, and therefore it is important to involve your advisers as early on in the process as possible. This way, we will be able to contribute with both our commercial and legal knowledge in order to decide on the best strategy.

Whether you are the buyer or the seller of a farm is a complex business with a lot of pitfalls - e.g. employment law, environmental law and planning law. We offer a commercial and legal review with emphasis on the pitfalls, which are characteristic to the exact farm.

Furthermore, we will assist with counselling regarding taxes and financing in connection with the business transfer.

Professional mentoring and optimisation within the agricultural sector:
At Kirk Larsen & Ascanius we have the knowledge and the possibility of attaching members of the practice group as a professional mentoring partner of both the company and the bank. We can act as a member of the board, with an eye to mentoring with the managing director or as a member of a board or a farm counsel on behalf of a bank in order to evaluate the possibilities of a turn-around. In connection with this work we will involve our practice group when needed.

In line with the increasing size of the farms not just professional mentoring but also strategic mentoring will be in demand. We offer qualified counselling regarding optimizing the operations, expansion, review and development of technical budgets etc.

It is significant to the farming industry, that the above mentioned relations accompany each other. Especially regarding the farms, who wish to expand or implement succession.

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