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Your Share Purchase Agreement will contain a (likely) long list of statements which aim to give certain assurances to the buyer that your business is in good health. These statements are known as the “warranties”. Warranties provide the buyer with some form of protection in the event that any of those statements prove to be untrue and cause the business to suffer a loss post-sale. Under those circumstances, the buyer may be entitled to bring a breach of warranty claim...

What is a Share Purchase Agreement? A share purchase agreement or “SPA” is the main contract by which a seller sells the shares they own in a company known as the “target” to a buyer for a specified price. What is in an SPA? If heads of terms were agreed the SPA usually reflects those terms and additional rights and obligations that the buyer and seller each are required to observe in relation to the deal. Regardless as to whether there are heads...

Your Heads of Terms are signed, and the main terms of the deal are now agreed in principle “subject to due diligence”. What does this mean exactly? Before committing to a purchase, a buyer will want to see exactly what it is they are buying. Similar to a residential property purchase, a potential buyer will want to have a look around, ask any questions of the seller and arrange for a valuation before signing on the dotted line. The same applies...

What are heads of terms? Heads of terms in a sale of company shares or business assets generally take the form of a relatively short document outlining the main terms of the deal that have been agreed in principle. What should I expect to see in a set of heads of terms? Although it sounds trite it is true to say that each sale is different and the contents of heads of terms will vary, however, you can expect heads of terms to...

Glenville Walker and Partners is delighted to formally announce it has made its first acquisition and acquired another boutique law firm into its group structure, Liverpool based Rees-Roberts Limited (trading as Rees-Roberts Solicitors). Glenville Walker and Partners is a leading expert business law firm specialising in corporate, commercial, intellectual property, employment law, family law and commercial property law with a straight-talking team that helps solve any business focused legal concerns. The firm unites high growth owner-managed businesses with commercially astute and...

A leading Northwest business specialist law firm has appointed a new Partner as it looks to implement its strategic growth strategy well into 2021. Glenville Walker and Partners is an expert business law firm specialising in corporate, commercial, intellectual property, employment law, family law and property law with a straight-talking team that helps solve all business focused legal concerns. The firm unites high growth owner-managed businesses with commercially astute and pragmatic legal advisors. John Colvin joins the team with a wealth of...

Liverpool based business lawyers and advisers, Glenville Walker and Partners has welcomed Associate Paul Smith into the commercial property team during their next phase of appointments. Paul joins the firm with 5 years’ experience as a property solicitor having previously worked for another Northwest specialist property firm, handling both commercial and residential conveyancing. Paul is recognised in the market for his lateral thinking and commercial approach to client matters which makes him the perfect fit in joining the team. Glenville Walker and Partners...

Liverpool based business lawyers and advisers, Glenville Walker and Partners, has appointed Joanna Sproson and Chris Brown during their most recent recruitment drive with the aim of growing their next generation of solicitors. Joanna and Chris join as trainee solicitors from one of the blue-chip global law firms with a track record of supporting the world's leading national and multinational corporations, where they assisted businesses of all sizes with a full range of corporate, commercial, dispute resolution, anti-trust competition and trade...

After years of adopting a relatively relaxed approach to foreign direct investment (“FDI”), the ongoing political tensions with China, notably in relation to the anti-government demonstrations in Hong Kong and the steps to remove all Huawei equipment from the UK’s 5G networks by 2027, has lead the UK government to consider steps that will enable it to intervene in FDI in UK companies either pre or post-completion where that investment would give the foreign entity at least a 25% shareholding...

As avid readers of our posts will know we have been highlighting the issues UK businesses face as a result of the court decision turning off the data tap to the USA in a wide range of situations. Most of our readers will now know that the EU really only approves of its own legalising mechanism of Standard Contractual Clauses (otherwise known as Model Contracts). To recap, sending personal data out of the UK/EU is frowned upon unless it is going to...