- Contracts–construction (Dodika Ltd and others v United Luck Group Holdings Ltd)
- What are the practical implications of this case?
- What was the background?
- What did the court decide?
- Case details
Commercial analysis: Dodika (the sellers and warrantors) applied for summary judgment in a CPR 8 claim seeking declarations as to the proper construction of a contractual provision contained in a share purchase agreement (SPA). The contract provided that $US 50m paid into an escrow account by the buyer (United Luck Group Holdings (ULGH)) as part of the purchase price could be the subject of a claim by the sellers in relation to certain taxes ‘if the Buyer gives written notice to the Warrantors stating in reasonable detail the matter which gives rise to such Claim, the nature of such Claim and (so far as reasonably practical) the amount claimed in respect thereof on or before [the relevant release date]’. The court held that ULGH had failed to serve a notice which complied with this provision and so Dodika was entitled to summary judgment and in effect the release of the $US 50m.Written by Charles Joseph, barrister, at Tanfield Chambers.
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