Londons in commission wrangle
Debt solutions firm heads for the High Court over disputed commission
Debt solutions firm heads for the High Court over disputed commission
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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