Johnson and another v Davies and another
Language: English Series: Estates Gazette ; [1997] 19 EG 157-160(4)Publication details: 1997Subject(s): Summary: ChD 5 December 1996. The plaintiffs (P) were principal shareholders in a company. P were sureties under a lease of commercial premises. P sold their shares to the 2 defendants and Mr Hopkins (H) and ceased to have any connection with the company. The company having failed to pay the rent, P satisfied the landlord`s claim, but sought reimbursement from the defendant`s under the terms of the the indemnification obligation in the share sale agreement. H entered into an insolvency voluntary agreement (IVA) which P voted in favour of. The defendant`s contended that by the IVA entered into by H they were released from their obligation to indemnify the P`s for any sums paid to the landlord. Judgement for the plaintiffs.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Law report | London Journal article | ABS57011 (Browse shelf(Opens below)) | 1 | Available | 78552-1001 |
ChD 5 December 1996. The plaintiffs (P) were principal shareholders in a company. P were sureties under a lease of commercial premises. P sold their shares to the 2 defendants and Mr Hopkins (H) and ceased to have any connection with the company. The company having failed to pay the rent, P satisfied the landlord`s claim, but sought reimbursement from the defendant`s under the terms of the the indemnification obligation in the share sale agreement. H entered into an insolvency voluntary agreement (IVA) which P voted in favour of. The defendant`s contended that by the IVA entered into by H they were released from their obligation to indemnify the P`s for any sums paid to the landlord. Judgement for the plaintiffs.