- Purchasing shares for less than market value (Braid Group (Holdings) Limited)
- Original News
- What questions did the appeal consider?
- What issues did this case raise?
- Did the bad leaver provision amount to a penalty clause?
- To what extent is the judgment helpful in clarifying the law in this area?
- What are the implications for practitioners? What will they need to be mindful of when advising in this area?
- Are there still any grey areas or unresolved issues practitioners will need to watch out for?
- Are there any patterns or trends emerging in the law in this area? Any predictions for future developments?
Commercial analysis: Should bad leaver provisions be taken into account in determining the fair value of shares, and do such provisions amount to an unenforceable penalty? Antony Lee, partner at Ashfords LLP, considers the situation under English law in light of the Scottish courts’ decision in Braid Group (Holdings) Ltd.
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