A non-executive director of a company which was undergoing a funding round had very sadly suffered a medical emergency, and the company was terminating his engagement. The company had complex vesting arrangements for his shares, and he was concerned to ensure that he was treated correctly. He turned to Corporate Partner David Davies for expert advice at a difficult time.
Due to the inability of the client to communicate other than to a very limited extent, David needed to take instructions through his wife. Timing was very tight, requiring immediate advice.
David put arrangements in place so that he could take instructions from the client’s wife. He then worked through the underlying documentation to understand the client’s position and negotiated with the company to ensure that his client was treated fairly and achieved an outcome which was considerably more favourable than that to which the client was entitled. All of this was done in a very short timeframe due to the requirement of the company for funding.
David’s knowledge of the sector meant he not only facilitated his client’s wishes through his wife but also achieved peace of mind for his client that everything had been settled correctly –obtaining a favourable deal with the business he had helped build.
Following the case, David said: “All deals are satisfying when they get over the line but this one was particularly so given the unfortunate situation of the client and the result we achieved.”