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Our Litigation Team led by Ian Pearl recently helped a client enter into a “corporate divorce” after they had entered into several casual joint venture agreements mostly done on a handshake and recorded on the back of an envelope. These arrangements made it nearly impossible for our client to extricate itself from the web of casual arrangements that had built up over the years and led to frustration on all sides.
Our team were able to complete an agreement with the other side which resulted in a complete split between our client and its former business partner. Although the disputes had been rumbling on for a while, we were able to reach an agreement in an extremely short amount of time by maintaining an unrelenting focus on our client’s needs. Our objective was to strip the emotion out of the transaction and concentrate on what would be the most commercially beneficial solution for our client. An important skill for any litigator.
Partner, Ian Pearl commented:
“Our client was thrilled with the outcome. However, this scenario highlights the need and value of entering into a formal carefully drafted Shareholders Agreements at the outset of the business relationship. Prevention is far better than cure”.
If you would like any further help with Shareholder Agreements please contact our Head of Corporate Dov Black or if you have a dispute we can help you with please contact Ian Pearl who is a partner in our Litigation team.