It is an unfortunate fact of commercial life that from time to time businesses become involved in disputes with each other, their customers, suppliers, financiers, tenants, landlords and of course the regulatory bodies.
These disputes can be expensive not only in terms of the costs of external professional advice but more importantly management time and expertise that should be directed to more productive tasks.
However, in all of this the most important factor is to protect your position as the impact of any adverse finding by a Court or Tribunal may be very harmful to your business and its reputation.
The most important steps to follow when any dispute arises are to:
Identify disputes/possible disputes as early as possible,
Obtain a detailed assessment of your legal position at a very early stage,
Prepare a tactical plan having regard to your legal position in the context of your overall business plan,
Be prepared. You and your advisors must do as much preparation as possible. In our experience there is a strong positive correlation between preparation and a more positive outcome,
Look to settle the dispute as early as possible having regard to your tactical plan.