Pre-emption clauses, as commonly found in shareholder, investment and joint venture agreements, are designed to prevent a shareholder selling his shares to a third party without first offering them to the other shareholders. A number of recent judgments highlight the importance of ensuring that such clauses are clearly drafted to reflect the parties' intentions as to the rights and remedies available on breach.
Andrew Cooke, an associate in our dispute resolution division, has published a briefing in the August edition of PLC Magazine which considers the issues: “Pre-emption on transfer of shares: rights and remedies”. Click here to download a PDF.
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