Business + Commercial Law


Overview
Commercial Leases
Restaurant purchase and Retail Shop Lease
Shareholder Agreements and Share Sale Agreements

Overview

Business is an endless series of good and bad problems. Clients come to us because working with good people makes business much better. Like travel, the right company improves the good times and makes the hard times manageable.

You are looking for allies to smooth out welcome or unwelcome challenges in your business. There’s some uncertainty and you’d like to get it under control.

You probably heard about us through a word-of-mouth referral or maybe even a Google search. We’re looking forward to working with you.

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Commercial Leases

Jaqueline called us to ask for help with a new commercial lease for her accounting firm. They’ve been around for many years and they’ve been on a month to month lease for much of that time. The new building owners decided that they wanted a lease.

We reviewed the draft lease they provided and drew her attention to the main items which often cause friction between landlords and tenants like outgoings, options, bank guarantees, consent to signage, maintenance costs, indemnities, landlord works and redecoration.

Because we regularly prepare and review leases we were able to give Jaqueline some reasonable recommendations to reduce her exposure. Being reasonable, the changes were accepted by the landlord without much fuss.

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Restaurant purchase and Retail Shop Lease

Dennis contacted us because he was buying a popular restaurant business. He called on the Monday and he and the seller wanted to finalise the deal by the end of the week. They were both surprised to learn that because it was a retail shop lease the landlord required a seven-day cooling off period once all the retail shop lease documents had been exchanged. Once Dennis understood the legal time frames he reset his timetable.

The seller’s solicitor prepared the contract for the business sale and we prepared buyer special conditions to make sure that all licences, signage, equipment leases, business names, telephone numbers and approvals etc would be provided and acceptable at settlement.

We carefully reviewed the draft lease and car park licence with Dennis and made the changes he wanted. We then helped Dennis to provide the landlord’s solicitor with the retail shop lease disclosure documents.

We helped him liaise with his banker to make sure funds were in the right place at the right time and settlement took place about two weeks after Dennis first spoke with us. He was excited to get to work and pleased with the outcome.

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Shareholder Agreements and Share Sale Agreements

Sometimes we need to move past old situations to be able to move to the next level.

Jacinta asked for help to prepare a share sale agreement to buy out a minor shareholder to the business. That took some time and negotiation to accomplish because there were some disagreements about the restraint of trade conditions and access to important documents. Once that deal was locked in, she asked us to prepare a Shareholder Agreement to bring in a great business partner to run the other half of the business.

The two business partners had worked together before and found it easy to agree to the provisions about dividends, management of the company and valuation if a share buyback was ever necessary.

They also found it easy to agree about confidentiality, no compete clauses, payment negotiations and a process to change directors to work together effectively.

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Disclaimer

This page is not intended to provide legal advice and does not create a client-lawyer relationship. This post is provided for general information purposes and should not be relied upon as a substitute for legal advice. If you need help with legal advice for your particular situation, please contact our office (details below or on ‘Contact’ page) and we’ll be happy to assist you.