NEW: While the House debates @realDonaldTrump's impeachment, new filings with authorities in the UK show the Trump Organisation is winding up two of its Scotland-based companies, with both being placed in voluntary liquidation. Thread 👇
@realDonaldTrump The firms in question, DT Connect Europe Limited, and Nitto World Co Limited, are subsidiaries of @TrumpTurnberry’s main corporate entity. Records show @EricTrump passed written resolutions on 3 December under the Insolvency Act 1986
@realDonaldTrump @TrumpTurnberry @EricTrump Here are documents signed off by Eric, an EVP of the Trump Organisation, who’s largely responsible for overseeing his father’s lossmaking and heavily indebted Scottish resorts. 
@realDonaldTrump @TrumpTurnberry @EricTrump These companies are pretty obscure, and don't control the assets of Trump's two golf resorts in Scotland. They're minor subsidiaries. But it's intriguing to see them being liquidated.
@realDonaldTrump @TrumpTurnberry @EricTrump DT Connect Europe may sound familiar. It was the firm behind Trump’s luxury helicopter charter biz. As I revealed in September, his luxury Sikorksy chopper was exported to the US amid falling demand. People didn’t want to fly with the Trump name. scotsman.com/news/politics/…
@realDonaldTrump @TrumpTurnberry @EricTrump Wealthy Russians were among those who flew on Trump’s helicopter, but the brand proved divisive. The owner of one luxury travel firm who chartered it told me: “I always took the TRUMP name off, we always blanked it out. We didn’t want to be flying around with that on the side"
@realDonaldTrump @TrumpTurnberry @EricTrump The decision to liquidate Nitto World Co Limited is also interesting. It was incorporated 32 years ago by a Japanese firm called Nitto Kogyo, who used to own Turnberry, before it was bought by Starwood, then Leisurecorp, and then, in 2014, by Trump.
@realDonaldTrump @TrumpTurnberry @EricTrump Nitto World has been dormant for years. It’s not clear why Trump, Eric, Don Jr & Ivanka became its directors. But from chatting with auditing / accounting experts over the psst few months, it’s been suggested to me it may have something to do with a quirk of UK corporate tax law.
@realDonaldTrump @TrumpTurnberry @EricTrump If you acquire a firm, you also acquire any of its historic tax losses. The most recent accounts for Nitto World show its profit/loss account at negative £14.5m. Those losses can be offset against development profits, which impacts on corporation tax (Trump's yet to pay a penny)
@realDonaldTrump @TrumpTurnberry @EricTrump That’s just a theory. I asked the Trump Org why it’s liquidating both companies, and why now. No one responded to me. A minor story given the impeachment votes today, tho an interesting one. I'm busy looking into a few other issues, but if you know more, my DMs are open.
