Three in a row for our gaming sector client
Having bought an insolvent business in the high street gaming sector, our client subsequently faced a claim from another company who had hoped to buy the same business previously, but because of funding difficulties, had lost their deposit. They then made a claim against our client for an interest in the company, claiming that their lost deposit was actually a contribution to the purchase price. We successfully defended the claim. The claimant company subsequently went into liquidation and we were able to assist our client in the acquisition of the gambling licenses. We also advised on the terms of the asset sales agreement, including the transfer of over 100 leasehold properties.