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22 November 2011
A couple purchased an amusement arcade and its property from their limited company, but within a year sold the business and assigned the lease of the property to an unconnected third party
Some 45 years ago a company owned by our clients a married couple took on the lease of a high street property from which it ran an amusement arcade.
In June 1997 the company sold its goodwill and properties (including the amusement arcade property) to our clients personally.
No consideration was charged in respect of the leasehold property. In 1999 the company was dissolved. Our clients carried on trading until March 1998 when they sold the business to an unconnected party T.
The sale of the business included the assignment of the lease to T.
The lease has now come to an end and a dilapidations claim has been made against our clients and T.
The upshot of the negotiations is that our clients have had to pay £20 000 plus...
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