We are helping some long-term clients with the exit of the main business partner via a buy out from the more junior partners.
The principle documents will be a share sale agreement and a new shareholder agreement.
However, we are in a tricky situation because of the potential for conflict. We need to decide who our client will be, disclose to the other parties the potential conflict issue and get their permission to carry on.
The agreement should be amicable, but if the parties disagree, it may be necessary for us to bow out and for them each to get separate representation.
For help with sale of share agreements and sale of business agreements, please contact Michael Paterson & Associates.