000			01618cab a2200253 4500
001			WB3419-34
008			090401t1998 xxu||||| |||| 00| 0 eng d
035			_a(Sirsi) u86318
041			_aeng
245			_aNegligence
260			_c1998
350			_a0
490			_aEstates Gazette Case Summaries _v[1998] EGCS 79 (16/5/98)
520			_a"Hill and another v Mullis & Peake and another" CA 6 May 1998. Plaintiffs sold shares in a hotel business and adjacent property. The first defendant was engaged to deal with the legal aspects of the sale. A share sale agreement was entered into and both the shares and the house purchased by HLM Developments Ltd. The share sale included a clause undertaking to procure the acquisition of the property with an equity value of £400,000 and to charge those properties in favour of the plaintiff. The purchase was financed by two loans. The purchasers failed to make interest payments to the bank and failed to acquire the property. HLM went into receivership and the assets were insufficient to cover the bank`s first charge. The plaintiffs issued proceedings against the solicitors alleging negligence and breach of contract in failing to advise the plaintiffs that the agreement was unlawful under Companies Act 1985 s151. Held, appeal dismissed.
650			_aASSETS
650			_aCOMPANIES ACT 1985 S151
650			_aHILL AND ANOTHER V MULLIS & PEAKE AND ANOTHER
650			_aInsolvency _96247
650			_aNEGLIGENCE
650			_aSOLICITOR
690			_aMANAGEMENT-BUSINESS MANAGEMENT-PROFESSIONAL PRACTICE
942			_n0
948			_c20/05/1998
999			_c54316 _d54316