Shareholders' Agreements · glossary
The notice that starts the deadlock steps. Ferris or Aldous & Wren may serve it within 20 business days after a Deadlock Event. A meeting of the chief executives follows, then mediation, then a possible buy-sell notice and, six months on, winding up. Clause 6.2 · Chapter 5
Explained in Chapter 5, Deadlock, of Shareholders' Agreements.
First comes the deadlock notice. Within 20 business days after the Deadlock Event, either owner may serve one on the other, with a copy to the company. If nobody serves one, the plan is treated as withdrawn, which favours the side that said no. Here that side was A&W, so Ferris served its notice two business days after the Deadlock Event.Read Chapter 5, Deadlock →
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