A consortium of international companies sold a large portion of the shares of an industrial company. The financing for the acquisition was granted by the selling party. The buying party breached the agreement to pay the purchase price and the agreement to return the financing amount. The amount in dispute was more than €30,000,000.
The purpose of the case consisted of regaining control on the block of shares involved in the transaction, as well as recovering the borrowed amount. To that end, several legal proceedings were initiated, aiming to solve the buying and selling issue and to claim for the borrowed amount. Furthermore, the nature of the case required urgent precautionary measures to be adopted in order to guarantee control on the shares sold.
The proceedings are pending judgement, although precautionary measures have been adopted preventing the defendant from undertaking any act related to the shares involved in the dispute.