This related to a family business jointly owned by a husband and wife (in a complex structure, including offshore companies holding assets), who were divorcing in a very contentious manner; the matter also involved issues of insolvency and the attempted transfer and use of assets of the family business in a new competing venture set up by husband. The matter is ongoing.
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Bates Wells’ M&A team acted for CentralNic Group PLC (“CentralNic”), the global internet platform that derives revenue from the subscription sales of internet domain names, on the acquisition of the entire share capital of Ideegeo Group Limited, a privately owned domain name retailer serving an international customer base from New Zealand for NZ$5.2 million.
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We amended its articles of association as part of its wider governance review.
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Bates Wells’ M&A team acted for Aggregate Industries UK Limited (“Aggregate Industries”) on its acquisition of Maxi Readymix Concrete Limited (“Maxi Readymix”).
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A leading hedge fund, structured as a Limited Liability Partnership, uncovered evidence that a senior partner was preparing to leave the partnership and set up in competition along with junior members of his team. We advised the LLP on expulsion of the senior partner and successfully obtained injunctive relief and damages. We also recovered and secured the LLP’s confidential and proprietary information and prevented the senior partner from competing against the LLP.
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We advised a firm of accountants on the acquisition of a number of smaller practices.
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We advised a City firm of accountants on the termination (“retirement”) of partners, and interpretation of the terms of the LLP Deed
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Most partnership disputes come down to interpretation of a written agreement but what if there is no agreement?
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Bates Wells’ M&A team acted for CentralNic Group PLC (“CentralNic”), the global internet platform that derives revenue from the subscription sales of internet domain names, on the acquisition of the entire Hexonet Group. The Hexonet Group, with operations in Canada and Germany, sells domain name subscriptions directly and via more than a thousand resellers in over 110 countries, managing over 3.8 million domains on its proprietary software platforms. CentralNic has paid an initial €7 million, with up to a further €3 million as deferred consideration.