Software Co. Can't Stop Payment To Former Shareholders

Law360, London (April 7, 2021, 6:37 PM BST) -- A judge has sided with former directors and others linked to a vehicle-dispatch software firm who sued for money owed under a £10.2 million ($14 million) share purchase agreement — but also allowed the company's counterclaim for fraud to go forward.

Andrew Hochhauser QC, sitting as a judge of the High Court, granted summary judgment on Wednesday on the claim from former Cordic Group Limited director Faramarz Arani and four others, saying there was no lawful reason to withhold the £2 million held back for 16 months in a retention account that was supposed to be paid out to the claimants...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!