Merger of Indian law firms ends up in court
FoxMandal and Co and Little & Co, have fallen in a heap after four years, precipitating a legal battle in the Bombay High Court.
The firms announced a plan to merge four years ago, and signed a Memorandum of Understanding that set out the terms of the merger. In December 2009, Little cancelled the Memorandum of Understanding, but later withdrew the cancellation. An interim committee was formed to run the law firm with representatives from both the sides.
Then Fox Mandal approached Little, seeking to call off the merger if Little repaid money already paid to it by Fox Mandal. But the firms could not reach agreement, and the conflict passed through arbitration and has now landed in the High Court.
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