Importance of agreeing engagement terms, as well as identity, of experts
A good, if lengthy, note from Hogan Lovells on the recent Court of Appeal judgment in Cream Holdings v Davenport, which demonstrated the importance of having a clear mechanism not just for agreeing the appointment of an expert (for example, to conduct a share valuation) but also for agreeing the expert’s terms of engagement:
“Parties negotiating [expert appointment provisions] would…be wise to include express wording to require the parties to co-operate to do everything reasonably necessary to procure the appointment of the [expert] and that they will not unreasonably refuse to agree the terms of engagement.”
The Court of Appeal judgment is on Bailii here.
Friendly Corporate PSL
To subscribe for our free weekly update e-mail, click here.
