| Publisher Citation: | [2009] All ER (D) 281 (Jun) |
| Neutral Citation: | [2009] EWHC 1330 (Ch) |
| Court: | Chancery Division |
| Judge: | Patten J |
| Representation | Geoffrey Vos QC, Joe Smouha QC and Andrew Twigger (instructed by Herbert Smith LLP) for the claimants. |
| Laurence Rabinowitz QC, Richard Hill and Gregory Denton-Cox (instructed by Kirkland & Ellis International LLP) for the first and fourth defendants. | |
| Adrian Beltrami QC and Fred Hobson (instructed by Simmons & Simmons) for the second and third defendants. | |
| Judgment Dates: | 15 June 2009 |
Catchwords
Contract - Construction - Joint venture agreement - Acquisition agreement - Claimants and defendants co-operating to acquire a leading Italian communications company - Dispute as to claimants' remuneration following completion of acquisition - Whether on true construction of agreement claimants entitled to one-third shareholding in acquisition vehicle.
The Case
Contract Construction. Chancery Division: The claim for one-third of the shares in a corporate acquisition vehicle would be dismissed on the evidence. However, the first claimant was entitled to reasonable remuneration for the services he had performed in the acquisition of the targeted leading Italian communications company.
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