6 November 2009 by Vincent Billings

How to sell a business in three days…

On Tuesday I took urgent instructions from a client, who was in the process of selling their business. The client said that they wanted to complete the deal in three days. Usually the legal work required for the sale of a business would take much longer, but as this matter was exactly the type of work we have specialist knowledge and experience in, we agreed to take the matter on. The client had explained that their previous solicitors could not act for them, as they did not have the capacity to complete the transaction within three days (never a problem at Bolt Burdon!). I swiftly arranged a meeting with the client to take instructions. At this stage I predicted a very busy remainder of the week.

The transaction had employment implications as well, so during the process I closely liaised with our employment team, who provided effective support to finalise their advice quickly. After two very late nights (and early mornings) at the office, dealing with all aspects of the transaction including negotiating and amending the business purchase agreement, disclosure letter, disclosure bundle, board minutes, share option agreement a and consultancy agreements, I and my colleagues had provided the necessary advice and had finalised the various documents. All of the hard work paid off as the transaction was completed on Friday, as per the client’s instructions.

This was a real win for the company commercial and employment teams as it proved how responsive we can be to our client’s needs with very tight deadlines.

4 November 2009 by Nicki Iliffe

Chancel tax liability

The best known case of chancel repair liability has finally been resolved with the auction of the property in question.

5 November 2009 by Matthew Miller

Non-disclosure agreements

We are often asked to draft Non-Disclosure Agreements or ‘NDAs’ for clients as these (in theory) offer more protection than the general law and are usually seen as the best way of ensuring that sensitive information is disclosed in circumstances which actively impose an enforceable obligation of confidence on the recipient.

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