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Jenny
Jenny, Solicitor
Category: Law
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I was part of a racehorse syndicate. The parent company

Resolved Question:

Hi I was part of a racehorse syndicate. The parent company contacted me to say an offer had been made and the majority decided to sell (I didn't want to). I have now discovered that the buyer was in fact one of the fellow share owners and tell whole process was carried out outside the terms of the contract. I feel I have lost out considerably as she continued to win money on the track (just under £230k) and has now been bred with. What should I do first in order to get compensation? Many thanks
Submitted: 1 year ago.
Category: Law
Expert:  Jenny replied 1 year ago.
Hello my name is***** am a solicitor and I am happy to help you today. Are you saying that parent company was in breach of a contract with you by agreeing to the sale which has resulted in a loss to you?
Customer: replied 1 year ago.
Yes I believe so. Our contract set out different rules for if a shareholder was intending to increase their stake. Non of these were adhered to.
Expert:  Jenny replied 1 year ago.
if there has been a breach of contract your remedy would be to bring a claim against the other party to the contract in the county court. Prior to bringing such a claim you would need to send a letter before action to the other party to the breach setting out the reasons why you believe they are in breach of contract and setting out your resulting financial losses. The letter should state that unless they make you an offer to settle your claims which is acceptable to you you will bring a claim to recover your losses. You should give them 14 days to respond with a reasonable offer. Hopefully that will lead to resolution without the need to go to court. If you have any further questions please do ask. If I have answered your question I would be grateful if you would take the time to rate my answer. Thank you and all the best.
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Customer: replied 1 year ago.
Thank you for your time.
Expert:  Jenny replied 1 year ago.
No problem all the best with it and thank you for rating my answer.

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