The Court of Appeal last week confirmed the High Court’s first instance decision that a side letter between a Mr Barbudev, founder of a Bulgarian cable TV company, and a Warburg Pincus acquisition vehicle – by which Mr Barbudev would be given the right to invest in up to 10% of the acquisition vehicle following its purchase of his company – was no more than an “agreement to agree” and so not legally enforceable.
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30 April 2012
Barbudev v Eurocom Cable: Side letter to share purchase agreement was no more than an agreement to agree
30 April 2012
Shadow banking regulation: Views of the Bank of England, European Commission and ECB
Three speeches on the possible future regulation of shadow banking from last week’s European Commission High Level Conference:
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30 April 2012
Golden Ocean Group v Salgaocar Mining Industries: Guarantee can be constituted by exchange of e-mails
In Golden Ocean Group v Salgaocar Mining Industries the Court of Appeal has confirmed that a guarantee can be constituted by an exchange of e-mails.
See this useful note by Fenwick Elliott (at pages 8 and 9), which also discusses more generally how contracts can be formed by e-mail – and that as, in this case, the sender’s Christian name at the end of an e-mail will be all that is required for a signature.
