Settlement agreements are used to resolve a variety of disputes in relation to business and shareholder disagreements. Once accepted, a settlement agreement is legally binding and prevents an individual from taking any further action. This alleviates the need for lengthy court cases which would detract the shareholder from focusing on the business.
The agreements can take various forms, which could result in the exit of a shareholder, or simply amending the terms of a contract with the existing relationship continuing, but under revised commercial terms. Agreements are voluntary and legally binding and, therefore, it is important to be supported by experienced advisors throughout the process.
As settlement agreements circumvent the need for court involvement, it is typically a more cost-effective method of ending an ongoing dispute. Our team of specialists are able to provide professional and comprehensive advice on pre-action settlements