A deadlock scenario will usually occur in 50:50 joint ventures where neither party to the joint venture has a majority. In these circumstances, no agreement can be reached without one party conceding.
Vardags advises businesses on deadlock scenarios, particularly in relation to deadlock provisions in joint venture agreements. Where an agreement is silent, will look at what you and the business want to achieve, what you seek to protect and how you envisage moving forwards. Having understood your needs, Vardags will explore the various options available to you which may include selling shares, acquiring shares, share buy-backs, third party buy-ins or court action.
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Vardags Limited is a limited company trading as Vardags, Company No 7199468, registered in England and Wales, having its registered office at 10 Old Bailey, London EC4M 7NG. Vardags is authorised and regulated by the Solicitors Regulation Authority (SRA Number 535955). Its VAT number is 99 001 7230.
Vardags uses the term ‘Partner’ as a professional title only, to describe a Senior Solicitor, Employee or Consultant with relevant experience, expertise and qualifications (whether legally qualified or otherwise) to merit the title. Our Partners are not partners in the legal sense. They are not liable for the debts, liabilities or obligations of Vardags Limited. Similarly, the term ’Director’ is a professional title only, to describe a non-legally qualified employee or consultant of Vardags with relevant experience, expertise and qualifications to merit the title. It does not necessarily imply that the relevant individual is a director of Vardags Limited.
A list of the directors of Vardags Limited and a list of the names of those using the title of ’Director’ and ’Partner’ together with their official status is available for inspection at Vardags’ registered office.