6.03.2019

A million reasons for Rangatira to be bitter about the Tuatara earn-out

The Court of Appeal’s decision in The Malthouse Ltd v Rangatira Ltd highlights some of the risks with earn-out arrangements and, in contrast to recent High Court rulings, illustrates a more traditional “black letter law” approach to contractual interpretation.

The decision obliged Rangatira to pay almost $1M more for its 35% stake in Tuatara Brewing – purchased in 2013.  It serves as a very expensive reminder that, when negotiating contracts, including M&A deals, clauses must be drafted exactly to match the meaning that your side/client intends.  Click here to read more.

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