When the Australian finance giant the Link Group negotiated a deal to acquire Pepper European Servicing (PES) on January 30 last year, it managed to get one important clause inserted into the contract.  The contract said the completion of the deal was subject to regulatory approvals and commercial conditions (emphasis added). This commercial conditions clause gave Link Group a great deal of leeway to cancel the deal whenever it felt like it. This is because commercial conditions are vaguely defined. And courts aren’t in the habit of forcing companies to buy other companies. In effect, the commercial clause gave Link Group…

Want to continue reading?

Join today with an Annual membership and get full access to The Currency for just €200 (68c per day) or try monthly membership for just €5 for your first month.

Subscribe

Cancel at any time.

Are you already a member? .