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Alex thank you for this. The Joint Venture agreement does not specifically give my company (the only other party to the JV) the right /power to assign/novate but nor is there any restrcition or limitation so I believe it can assigned /novate rights and obligations. It would not need and most likely not get permission of the other partner (another uk limited company) to assign/novate its rights and obligation (bearing in mind the other party is the one the action is against) .The other point to consider if you want to assign the rights and obligations to the other company (including the right to carry on the court proceedings), you would need a what is know as a Deed of Novation.
Do you have a standard deed/can you draft me a copy? I can email you the JV wording if required - pretty basic and short.
No Alex, it never figured and nor was it ever envisaged. As it was not specifically excluded my undertanding is that there is no restriction on assignment. Hope this is correct and i will go to simply Docs
Thank you Alex. My company (the JV partner) will be sold (holds properties and eventually liquidated once the properties it holds are sold. We discharged all our obligations under the JV so do not have burdens as such however the the company that takes ove rthe assigment will all benefits and burdens (if any) of the contract. Is it still Novation rather than assignment.