Shareholders agreements solicitors dispute the control of a chain of famous London hotels

In the absence of clear shareholders agreements, solicitors may be called in to settle disputes.

If arguments cannot be settled, the only option may be to apply to the courts for a judgement.

In a company case recently reported, an agreement was described as containing express obligations of good faith and the shareholders relationships were described as based on trust and confidence.

[supertagline]The dispute centres around three of London’s most famous hotels, Claridges, the Connaught and the Berkeley.[/supertagline]

A dispute ensued when Mr McKillen, claimed that Sir David and Sir Frederick Barclay had tried to acquire total control of the company, Coroin, using tactics that went against his rights under shareholders agreements.

Solicitors have been attending London’s High Court where Mr McKillen is trying to prevent the two brothers from in his view, taking over the company.

At the hearing it has been suggested that Mr McKillen had been the most active shareholder, overseeing successful developments and seeing the value of the properties nearly double over six years, with Coroin now estimated to be worth more than £1bn.

[supertagline]MLP Law are here to help if you have any disputes relating to shareholders agreements or any other company issues.[/supertagline]

Sir David and Sir Frederick Barclay, whose interests also include the Ritz and the Cavendish, have denied the allegations which they have suggested are attempts to cause embarrassment and tarnish their reputation.

In what appears to be a test of good faith alluded to in the shareholders agreements, solicitors await the outcome of the hearing which is expected to conclude in a few weeks.

Contact our team of highly trained specialist solicitors at MLP Law on 0845 0738 445 or email info@mlpsolicitors.co.uk