Overview

Taylor Wessing looks at a case where the lawyer acting for two former employees agreed a deal on the telephone with the liquidator of their former employer, but the liquidator later stated that he was not bound by it as the discussions were clearly subject to contract.

While in this case it was held there was no contract, this type of case always revolves around the facts. Lenders often discuss new facilities, amendments or waivers with their customers and they should always be careful to ensure that they are not committing themselves to anything unless and until they are ready to.

To read a breakdown of these proceedings, click View Briefing.