BAE Can Nix £93M Deal After PE Fund's Clerical Error

Law360, London (July 11, 2019, 5:52 PM BST) -- U.K. defense contractor BAE Systems can walk away from a £93 million ($116.56 million) deal to sell an airport to a private equity fund over a clerical error and has no obligation to work with a firm in "disarray," a London court ruled Thursday. 

High Court Judge Sara Cockerill ruled that the aerospace giant can terminate its contract to sell an airport in northern Wales and other property in Bristol to a Bridgehouse Capital unit because the fund was struck off the U.K.'s registrar of active companies. 

Although directors quickly reinstated the unit, Bridgehouse (Bradford No. 2), by filing annual returns,...

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