 His solicitor and advisor Rodney Rosenblum (also one of the trustee shareholders of Francis Richards) had started dividend stripping with a company called Cadiz and offered to have Cadiz buy Francis Richards for the value of its accumulated profits.The advantage to Slutzkin of selling instead of liquidating the company was that selling would be a capital transaction, and therefore tax-free, whereas in liquidation the final dividend distribution would be taxed as income.Cadiz required the company to have only cash assets, and no liabilities, so bank term deposits were called in and remaining liabilities paid out.