An Employee Ownership Trust (otherwise known as an ‘EOT’) often requires the appointment of an independent Trustee to ensure the independence of the trust company in governing the Company.
Ison Harrison Solicitors are 100% employee owned within an Employee Ownership Trust and have first-hand experience of the legal and practical issues associated with becoming, and running, an EOT.
As well as advising on the process of becoming an EOT, Ison Harrison Solicitors are able to offer independent trustee services to act as an independent Trustee in an EOT.
Such services will include:
- Appointment as an independent trustee;
- Attendance at the Trust Company board meetings, ordinarily held once per quarter;
- Advice and support regarding governance and matters such as implementing an Employee Forum;
- Providing knowledge and experience of governing an EOT and ad hoc telephone support as required.
The transition to an EOT is a big step and Ison Harrison Solicitors can support businesses in the transition and engagement with employees.
If you are considering becoming an EOT, or if you are an existing EOT, and you need to appoint an independent trustee, please do not hesitate to contact us.
If you would like to discuss this further, please contact our Director and Head of Corporate & Commercial, Richard Coulthard on 0113 284 5095 or via email on email@example.com. Richard was directly involved in the implementation of the Ison Harrison EOT Scheme and can talk personally about the process and practical considerations.