Royds represent nationwide business transfer agent in fees win
Christie’s introduced a potential buyer to the Cambaz Bar & Grill in Solihull, West Midlands but after the vendor pulled out of the deal Christie’s claimed its fee.
The vendor refused to pay, arguing that the contract term wasn’t binding, that there had been no effective introduction and that the transaction failed because of a lack of guarantees so the purchaser wasn’t truly a willing buyer.
The dispute set court proceedings in motion and was then, by agreement, referred to mediation.
With extensive knowledge of estate agency law and many years of experience of acting for Christie’s, Royds partner Stephen Welfare and his team in the litigation department were confident of getting a result for the client.
The dispute was settled this month at the 11th hour before the start of the mediation (which was scheduled to take place at West Bromwich Albion FC), with the defendant agreeing to pay substantially the claim made by Christie’s and to contribute significantly to its costs.
Gavin Wright, director at Christie’s, said “a good result in the end”.