Tag Archives: Fladgate

May 19, 2011

Fladgate advises Esporta on £77m sale to Virgin Active Health

Fladgate LLP has advised on the property aspects of the disposal of the Esporta Health Clubs’ (Esporta) business to Virgin Active Health (Virgin Active) for £77.6m. The sale is subject to the approval of the Office of Fair Trading. Following completion of the deal Esporta may seek to sell the freehold racket club sites, which Virgin Active is leasing for £13.1m a year, and which are expected to be worth about £200m.

Fladgate previously advised on Esporta’s disposals to Virgin Active in 2004 and 2005.

Posted in Europe | News

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May 17, 2011

Going for broke

By ILN

Adjudication can help companies’ cashflow, but what happens in cases of insolvency when there is no cash to flow?

There’s no point winning an adjudication if the other party can’t be made to comply with the decision. The robust approach taken by the Technology and Construction Court to enforcing adjudicators’ decisions has made it a powerful tool to help companies protect their cashflow – but only if they are still solvent. Although adjudication is a quick, “rough and ready” procedure, the court has enforced adjudicators’ decisions by granting summary judgment. Judges have felt able to do this because although adjudicators’ decisions are binding, they are not final, so a losing party can begin proceedings for final determination of the dispute.

Posted in Europe | Legal Updates

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May 5, 2011

The three little words that every lawyer wants to hear

By Lindsay Griffiths

No, we don’t expect our clients to tell us they love us! But we do love it when clients use “subject to contract” in their negotiations.

A recent case in the UK Court of Appeal, Immingham Storage Co Ltd v Clear plc, highlights the court’s willingness to enforce a contract where all essential terms have been agreed, and where the negotiations leading up to the contract were not made under the “subject to contract” banner.

Posted in Europe | Legal Updates

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May 3, 2011

Fladgate advises Indian conglomerate on London hotel acquisition

By Lindsay Griffiths

Fladgate LLP has advised Indian based Bird Group, a conglomerate of independent companies in the travel and technological arenas, on the acquisition and refinancing of The Royal Park Hotel.

The Royal Park Hotel is a boutique hotel located on Westbourne Terrace, comprising three carefully restored, mid 19th-century Grade II listed townhouses. US-based Interstate Hotels and Resorts deal with the overall management, operations, sales and distribution for the hotel.

Fladgate corporate partner and head of the firm’s India Desk, Sunil Sheth, led the cross departmental team which included corporate associate Mythily Katsaris, property partner Diane Haworth, planning partner Mark Harnett, employment solicitor Naomi Oppenheim and tax solicitor John Forde.

Posted in Europe | News

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April 4, 2011