Well, people are now gleefully reporting that as far as anybody can tell, the buyer has not actually paid for the acquisition as yet. It's not quite time to hit the panic button yet - I certainly can't come up with £43million cash just by breaking open my piggy bank, and I suspect most of the rest of you can't, either.
But what if worse comes to absolute worst? Someone recently asked on a LinkedIn group what kind of recourse the seller had. This was my response:
It's a broken contract, so a seller's recourse is a lawsuit. What typically happens here in NSW, when much lower amounts are involved, is that lawsuits are not worth the trouble and people negotiate, especially if they have a track record with the buyer.
Got absolutely no idea what will happen with this sort of money involved!
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