Supreme Court of NSW awards $3.5million to misled business buyer
In Evolution Traffic Control v Skerratt  NSWSC 49, the NSW Supreme Court found that the seller of a business had deceived the buyer about the financial feasibility of the business and awarded $3.5million in damages to the purchaser. The Purchaser, who had paid the vendor $10million for the business, sued the vendor after discovering that things were not quite what they were represented to be.
If you are buying or selling a business, we can assist in documenting the transaction so as to safeguard you from future issues that may arise.
If you have purchased a business and found it not to be quite what you were told it would be, you may have a claim against the seller which we can assist you with.