Post-closing dispute following a management buy-out resolved through a settlement agreement
Onno and Xagan represented the selling shareholders in a post-closing dispute arising from a management buy-out. The shareholders faced claims based on error (dwaling) as to the purchase price, the warranties and other alleged breaches of the sale and purchase agreement and the management retention arrangement. After extensive correspondence and the issuing of a writ of summons to recover the vendor loan, the parties brought the dispute to an end by concluding a settlement agreement. This provided, among other things, for repayment of the vendor loans and for the cancellation of the non-solicitation and non-competition clauses.
Onno Hennis
Xagan Heerbaart
Marleen Jonckers
Lize van Egmond
Marco Guit
Lennard Noordzij
Willem Jansma