This week we had some fun with some last minute negotiations.
Our client believes he was oppressed by the majority shareholder of a company and was not paid adequate employment entitlements.
The dispute has been going on for some time.
We had prepared and were just about to lodge an application in Fair Work Australia when we were advised that the director had arranged a sale of shares of a subsidiary company to a large Australian company for $2m+.
This gave us a good bargaining position because the sale could not go ahead with litigation threatened.
Settlement of the deal was due yesterday, but they put it off until today to allow time for the parties to sign the paperwork which was only finalised early yesterday afternoon.
While the settlement we negotiated was not as good as we might have hoped, it was still adequate and allows my client to get on with his new competing business without getting involved in expensive, stressful, time-consuming litigation.
So for assistance in resolving disputes – Michael Paterson & Associates.