Selling a business
Discussion
HIS LM said:
Steffan said:
There are a number of features in this matter including the time delay which need amplification to make any real sense of the problem itself. As others have said we need more detail to assess the reality of such a belated bill. Over to the OP.
What do you mean time delay
Frimley111R said:
HIS LM said:
Steffan said:
There are a number of features in this matter including the time delay which need amplification to make any real sense of the problem itself. As others have said we need more detail to assess the reality of such a belated bill. Over to the OP.
What do you mean time delayHIS LM said:
Frimley111R said:
You instructed them in 2007 and only now are they chasing you.
No idea why ! is there a time limit ? ETA Be very careful not to re-acknowledge any debt through any communication.
Frimley111R said:
Sounds familiar? http://turnerbutlercomplaints.com/
Blimey.If they are that keen at chucking stuff about would not they be viewed by the courts as a vexatious litigant?
Simpo Two said:
Frimley111R said:
Sounds familiar? http://turnerbutlercomplaints.com/
Blimey.If they are that keen at chucking stuff about would not they be viewed by the courts as a vexatious litigant?
Steffan said:
If the Rupert Catell MD has any connection with the old Catell's finance company the daft antics do not surprise me. It would seem the debt is statute barred. However whether this is vexatious litigation I rather doubt.
There is a limitation on a debt but the question is when the debt would be seen to be incurred. It is quite possible, for example, that it may say that if the business hasn't sold in two years then you are liable to pay these fees which would put it firmly inside the time limit.
Lol ^^
Ok, I was just speaking to someone else in the business sale industry and Turner Butler may have a clause that says that if a business doesn't sell they still get paid a commission. This probably explains how they can afford the sale process without charging. I am not sure how the amount is calculated and apparently this is hidden in the T&C.
Ok, I was just speaking to someone else in the business sale industry and Turner Butler may have a clause that says that if a business doesn't sell they still get paid a commission. This probably explains how they can afford the sale process without charging. I am not sure how the amount is calculated and apparently this is hidden in the T&C.
Frimley111R said:
Lol ^^
Ok, I was just speaking to someone else in the business sale industry and Turner Butler may have a clause that says that if a business doesn't sell they still get paid a commission. This probably explains how they can afford the sale process without charging. I am not sure how the amount is calculated and apparently this is hidden in the T&C.
There are a number of oddities in this matter. The delay of many years is the most obvious. We need more detail from the OP like the terms signed. It is not uncommon for such firms to charge if negotiations reach a certain point and then the seller withdraws. Down to getting more information from the OP. If the terms are too onerous they will not hold in an action in court. As ever the devil is in the detail.Ok, I was just speaking to someone else in the business sale industry and Turner Butler may have a clause that says that if a business doesn't sell they still get paid a commission. This probably explains how they can afford the sale process without charging. I am not sure how the amount is calculated and apparently this is hidden in the T&C.
HIS LM said:
Thanks for all your replies, so faced with the threat of legal action what are my options:
1. Ask for a copy of the agreement - but in so doing is that not acknowledging the debt
2. Do nothing
3. Something else
You can't ignore it. Assuming it does not state what the debt is related to I would very much be inclined to ask the question.1. Ask for a copy of the agreement - but in so doing is that not acknowledging the debt
2. Do nothing
3. Something else
HIS LM said:
Thanks for all your replies, so faced with the threat of legal action what are my options:
1. Ask for a copy of the agreement - but in so doing is that not acknowledging the debt
2. Do nothing
3. Something else
1) No, you are asking them simply to send details of the contract on which their action is based - the justification for the alleged debt. They would have to produce it in court anyway, assuming you can't kill it off before then.1. Ask for a copy of the agreement - but in so doing is that not acknowledging the debt
2. Do nothing
3. Something else
2) Not an option. No defence = you lose
3) See 1. Then you have the facts, and can plan from there. Legal cases start with facts and contracts.
No doubt they are playing the 'big scary solicitors vs little guy' intimidation game. Don't be intimidated - first you have PH to make ammo for you, second, courts take sympathy on little guys being bullied by big scary solicitors.
Gassing Station | Business | Top of Page | What's New | My Stuff