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James Garrett is known for being a straight shooter. His clients know he won’t beat around the bush and that his advice will be honest, providing a practical, actionable answer to their query.
James helps clients in the financial services, food and beverage and manufacturing industries to buy and sell businesses. He takes the time to get to know his clients’ business, especially to understand why they want to grow and how that might happen. Armed with this knowledge, James is able to help his clients fulfil their business plans.
“The best part about my job is taking the stress associated with the transaction away from my clients, so they can focus on their business priorities.”
Clients looking to sell a substantial portion of their company shareholding needed help with a dispute regarding the valuation of the clients’ shareholding given their active involvement in the day to day operations of the company. There was also a third party passive shareholder involved who had recently received a company funded insurance payout. As a result, another stakeholder in the company launched litigation against the clients, hindering the finalisation of the transaction. James’ strong understanding of the issues enabled him to remain calm yet firm when up against the warring stakeholder and work to protect his clients’ interests. His rapport with the clients other key stakeholders, enabled him to calm their agitation when faced with the opposing lawyer’s unreasonable demands and led the opposition to unwittingly present James with an opportunity to hit hard, achieving the client a successful outcome. The clients were able to sell a portion of the company shareholdings while retaining day to day operational control and grow the company.
James assisted three previous employees acquire the franchise from their boss. Difficulties arose as the purchaser wanted to ensure they would be rewarded for works organised and booked prior to the transaction but completed after. More difficulties arose during the initial transition period, as the vendor had many staff who were family members and hampered the process. James managed these difficulties strategically and minimised the risks. Since the completion of the purchase, James’ clients have grown the business substantially, expanding both the sales and repairs parts of the business.
James continues to advise the clients. Recently he finalised a Unitholders Agreement for the clients’ acquisition of the property where the business operates. This was a cross-team effort, with our Property team completing the conveyancing while the Commercial team finalised the complicated Deed of Variation for the Shareholder Agreement and the Buy/Sell Agreement for the initial ownership.
James was referred by a boutique specialist estate planning lawyer to provide advice and documentation to a client selling their wholesale food business on terms. The client wanted to divest their wholesale food business to focus on their wholesale liquor business. James ensured payments would be secured over the assets of the purchaser and ultimately the client was able to utilise its powers of enforcement under the Security and appoint a receiver. This meant the client was paid in full from a third party financier required by the purchaser. Since the conclusion of this transaction, the wholesale liquor business has prospered, with James continuing to advise on its day to day operations, providing commercial and legal advice.