Debt solutions firm Londons is headed for a High Court showdown with
chartered accountants KS Tan & Co in a dispute over commissions.
Londons, who trade as IVAuk, claim insolvency practitioners KS Tan & Co
owe around £385,000 in commission.
The companies entered an arrangement in January 2005, in which KS Tan &
Co would pay commission of one third of gross revenue for individual voluntary
arrangements referrals from Londons, according to a High Court writ. Both
companies agreed to formalise their arrangement in May 2005, but negotiations
did not end on a marketing agency agreement, the writ claims.
North west London based KS Tan & Co sent an email on 17 February this
year terminating the agreement with Londons, alleging there had been a breach of
contract; a claim denied by Londons.
Londons said the firm’s actions amounted to an anticipatory breach of
contract, discharging it from its obligations, and is demanding dam-ages to
include commissions due for individuals introduced, of £385,682.
A KS Tan & Co spokesman said it was seeking to make a counter claim
against Londons, alleging breach of a marketing agreement.
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