Bexbes LLP v George & Ors

Bexbes LLP v George & Ors

The Engagement Letter required a consistent, face-value comparison of Consideration under the first offer and the Disposal, including contingent elements at full value and excluding certain fees and payments not assumed by the buyer. The increase in Consideration entitled BexBes to an additional fee calculated as 18% of the increase.

Parties
Claimant: BexBes LLP; First Defendant: Michael George Christopher Beer; Second Defendant: Jane Susan Beer
Jurisdiction
England and Wales
Judgment Date
28 October 2008
Procedural Posture
Civil (contractual Dispute) / Judgment After Trial
Outcome
Judgment for the Claimant in part
Legal Topics
Interpretation of Engagement Letters, Calculation of Consideration, Contingent Payments, Professional Fees
Contract Law Commercial Law Interpretation of Engagement Letters Calculation of Consideration Contingent Payments Professional Fees

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Parties

BexBes LLP

Claimant

Michael George Christopher Beer

First Defendant

Jane Susan Beer

Second Defendant

Procedural Posture

Civil (contractual Dispute) / Judgment After Trial

Legal Issues

  1. 1 How should 'Consideration' be interpreted under the Engagement Letter for the purposes of calculating BexBes' fee?
  2. 2 Should contingent elements and performance-related payments be included in the Consideration?
  3. 3 What is the correct approach to the calculation of Consideration under the first offer and the final Disposal?

Ratio Decidendi

The Engagement Letter required a consistent, face-value comparison of Consideration under the first offer and the Disposal, including contingent elements at full value and excluding certain fees and payments not assumed by the buyer. The increase in Consideration entitled BexBes to an additional fee calculated as 18% of the increase.

Court Disposition

Judgment for the Claimant in part

Orders

  • BexBes is entitled to an additional fee of £57,780 in addition to the £45,000 already paid.
  • BexBes is entitled to interest, to be agreed between the parties.