I have been asked to look at
this for you.
You are quite right in what
you say in that they cannot seek the money from you and you claim that you all
the money but still sell the FF to a new buyer. They cannot have it both ways
but no doubt, they will try.
If fixtures and fittings are
said, in the agreement, to belong to the brewery, until paid for in full, then
they own the FF. Not you. They are entitled to sell them.
It does not get you off the
hook however but it does get you off the hook for a large chunk of that debt.
The situation now is that you
are in breach of contract to purchase the fixtures and fittings and they are
relying on their retention of title clause (where it states that they remain
the property of the brewery until paid for).
They are not entitled to
What they are entitled to is
compensation/damages if they had to sell them at a reduced price.
So what you want from them is
to know how much they sold them to the new tenant for. If it was less than
£20,000, they are entitled to the balance.
If they will not tell you,
you are entitled to apply to court for a court order to compel them to let you
have a copy of that agreement so that you can see how much they were sold for.
Of course, they will say
would lose in this went to court because they are not going to say that they
would lose and you would win!
Does that answer the
question? I am happy to answer specific points.
Can I help further?
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offline shortly until later and will pick this up then if needed.