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JGM
JGM, Solicitor
Category: Scots Law
Satisfied Customers: 11554
Experience:  30 years as a practising solicitor.
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I am paid a small salary and the rest of my salary is paid

Resolved Question:

I am paid a small salary and the rest of my salary is paid from money from a share sales and purchase agreement. The amounts are on a schedule and due to be paid on the 28th of each month. This agreement was for Company A buying the shares of Company B
I have had my small amount paid but the larger amount (from the share sale purchase agreement) has not been paid and the excuse given is that company B isn't doing to well financially so basically you will have to wait although Company A the purchaser of the company b shares is doing very well
Can this non payment be done
Submitted: 3 years ago.
Category: Scots Law
Expert:  JGM replied 3 years ago.
Thank you for your question.
No they can't do this, assuming there is nothing about payment under the SPA being conditional on B's performance.
In the absence of such a provision A is in breach of the SPA and could be sued as such.
I hope this helps. Please leave a positive response so that I am credited time.
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