Out of sight, out of mind: how a right of first refusal can be lost
By Clark Sargent
The High Court’s decision in Blindley Heath Investments Ltd v Bass and others is significant, both for those involved in preparing shareholders’ agreements and share sale and purchase agreements and for those advising on any shareholder disputes that might arise afterwards.
The case was all about pre-emption rights — how they were created, how they could be applied and how they could be lost. And as the decision turned principally on the question of whether or not pre-emption rights (in this case, in relation to the transfer of shares in a company) were enforceable, it may have wider significance in relation to similar rights of first refusal over other kinds of property.
As this is only a first-instance decision, it may be subject to appeal in certain respects. However, pending any successful appeal, matters now stand as follows…
Click on the link below to read the rest of the Wragge Lawrence Graham & Co briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Wragge Lawrence Graham & Co
News from The Lawyer
Briefings from Wragge Lawrence Graham & Co
Wragge Lawrence Graham & Co has ploughed through 10 manifestos to see what the parties are offering employers and employees regarding employment. This alert outlines the key issues.
Wragge Lawrence Graham & Co has ploughed through 10 manifestos to see what the parties are offering for employers, savers and pensioners, and outlines the key issues in this briefing.