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By submitting an enquiry through 'get in touch' your data will only be used to contact you regarding your enquiry. If you would like to receive newsletters from Thomson Snell & Passmore please use the separate form below.

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  • Overview

    Our client acquired a new business last year under a purchase agreement, paying over £1,000,000 to the seller. Shortly after the purchase was completed, our client discovered anomalies in the accounts of the acquired business. 

    After a forensic accounting investigation was carried out, our client identified that certain liabilities had not been properly recorded in the accounts of the business it had acquired. This resulted in an unexpected and undisclosed liability, and also potential reputational damage to our client. 

    We were instructed to advise our client as to its position, and their ability to pursue claims against the sellers of the business for the losses arising from the liability. We provided clear and confident advice on our client’s right to withhold payment of deferred consideration payments due to the sellers. We also advised on the basis upon which claims could be framed and presented under the business sale agreement. We drafted, prepared and served the requisite notices to commence claims against the sellers. 

    We delivered a strong case for our client and this resulted in a swift negotiation and a commercial settlement being achieved to resolve the financial disagreement, and also address our client’s wider commercial concerns about the issues it had identified from its investigation
     

  • Related Services

    Dispute Resolution

    Our team of experienced and highly specialist lawyers includes experts in contractual, commercial and international disputes, insolvency, shareholders’, directors and partnership disputes, in disputes arising from construction/engineering projects and we also act for clients seeking to protect or defend intellectual property/IT rights.

    Corporate, commercial & international dispute resolution

    Our highly experienced team of specialist lawyers act for UK and international businesses and individuals in a wide range of commercial disputes.

Get In Touch

By submitting an enquiry through 'get in touch' your data will only be used to contact you regarding your enquiry. If you would like to receive newsletters from Thomson Snell & Passmore please use the separate form below.

Newsletter Sign Up

General Private Client UpdatesGeneral Commercial UpdatesConstruction UpdatesCourt of Protection UpdatesAgriculture & Rural Affairs UpdatesCommercial Property UpdatesEmployment UpdatesDispute Resolution UpdatesCorporate & Commercial UpdatesCharities & Not for Profit UpdatesFood & Drink UpdatesEducation UpdatesTransport & Logistics UpdatesFamily Business & Owner Managed Businesses Updates

I agree to be ‘opted in’ to receive Thomson Snell & Passmore newsletters, event invitations and other publications that are related to the subject matter of this event or my industry sector. I understand that this means they will send me these communications by email

I agree

If you want to update what types of information you want to receive from us, or if you wish to stop receiving these communications, you can do so ay any time using the following link: or emailing us at .

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Jargon Buster