By Henrietta Walker and H. Andrew Ross

In the recent case of Shafi v Rutherford [2014] EWCA Civ 1186 (Shafi), the U.K. Court of Appeal was asked to examine an appeal from the High Court regarding the interpretation of a completion accounts mechanism, a commonly used price adjustment process in company and business acquisitions. The court’s decision will likely affect the way in which buyers and sellers describe the mechanism in sale documents and reinforce the importance of financial and legal advisors working closely together.

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