Private equity update: why clear drafting matters — a case lost by both sides?
In Alegro Capital LLP v AllProperty Media Pte Ltd [EWHC] 3376 QB, Mr Justice Foskett said: ‘It is unfortunate that a great deal of cost will have been expended in the dispute and that it will have generated bad feeling and distrust between the two sides. It is, regrettably, a consequence of not sorting out the fine print of the agreement sufficiently in the commercial haste that gave rise to it. That is a lesson to be learned.’
This is certainly not the first time that a judge has found that in the rush to sign binding agreements the parties have failed to record clearly what they had (or thought they had) agreed. Nor is it likely to be the last…
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The Treasury has issued a consultation document that clearly signals its recognition of the value to the UK economy of the private funds sector (including private equity and real estate funds).
Without prejudice communications with a regulator; collateral benefit and negligence; and more.