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UK-Justice
UK-Justice, Barrister
Category: Law
Satisfied Customers: 16193
Experience:  Called to the Bar in 2007
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Hi, I have just left my business a small pub/resaurant.It was

Customer Question

Hi, I have just left my business a small pub/resaurant.It was a lease from a private trust and i signed the lease back to them before i had agreement fro the new owners about value.I did this in good faith as i have known them for 14 years.The new owners had avaluation done and after taking advice i said i would acept this if we recieved a fair price for the business.They are now saying that the fixtures and fittings have no value even thoudh they ripped uo carpets and floors ect that don't belong to them and are refurbishing.As i understood it any prospective buyer is obilged to buy everything associated with the businessproviding a price is agreed.Help.
Submitted: 3 years ago.
Category: Law
Expert:  UK-Justice replied 3 years ago.
Thanks for your question, I will do whatever I can to help you. Please remember to rate my answer SMILEY FACE OR ABOVE.

Was it agreed that everything would be included in the value?
Customer: replied 3 years ago.

What exactly do you need to know?Just one thing i didn't mention, We wound up our Ltd company in Oct 2012 and i cotinued as a sole trader for 9 weeks until we left,therefore the assets belong to me and not the business.I don't know if thhis is of any significance. Meanwhile they have stsrted to rip up carpets and floors ect even though they don't own them.

Expert:  UK-Justice replied 3 years ago.
I asked was it agree that everything would be included in the value?
Customer: replied 3 years ago.


YES

Customer: replied 3 years ago.

Yes

Customer: replied 3 years ago.


Yes

Expert:  UK-Justice replied 3 years ago.
What is the value of the under value?
Customer: replied 3 years ago.

the value of the F&F is arround 35-40K

Expert:  UK-Justice replied 3 years ago.
Do you have evidence of what the F&F were and approx value?
Customer: replied 3 years ago.

It was valued by the incoming owners by a profesonial valuer and i had an approx vaule of 35-40 K

Expert:  UK-Justice replied 3 years ago.
And did they allow you the opportunity to remove them?
Customer: replied 3 years ago.

They are now


 

Expert:  UK-Justice replied 3 years ago.
But they have damaged things and ripped them up?
Customer: replied 3 years ago.


Carpet & Flooring

Expert:  UK-Justice replied 3 years ago.
You are correct in that a prospective buyer is meant to purchase everything, especially if it was agreed.

If not then you can issue proceedings for breach of contract.

You can issue a claim online at: www.moneyclaim.gov.uk - you would have to pay a fee but this will be added to the claim.

You should detail and set out your losses so all parties know what you are claiming.

You will be surprised how quick matters are resolved once proceedings are issued.

I hope this helps.



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