AIBB Guide - REIQ Business Sale Contract Queensland

AIBB Guide – REIQ Business Sale Contract Queensland

John Kafrouni

22 Aug 2012

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min read

This Guide by Kafrouni Lawyers and the Australian Institute of Business Brokers (AIBB) is designed for use by buyers and sellers of businesses, business brokers and professional advisers when using the REIQ Business Sale Contract (“Contract”). The purpose of the Guide is to explain what particular parts of the Contract mean and to highlight (either in the content or the process) various risks of getting things wrong.

For a seller (vendor), the Guide provides an important checklist of things to consider when listing a business for sale. It should be helpful in understanding how the law will work, what’s included and excluded from the business, timing, notices and so on. For a potential buyer, it provides a better understanding of what the proposed Contract actually means and what to expect during the process.

What to do next: If you would like more information on buying or selling a business, or assistance in doing so, call Joe Kafrouni or Rob Montes on (07) 3354 8888 or joe@klaw.com.au or rob@klaw.com.au.

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Joe Kafrouni helped me in my acrimonious shareholders dispute, resulting in Supreme Court litigation. During my case, which took years to resolve, I appreciated Joe’s great concern for my well being and that of my family. I felt he was attentive, direct and provided me with sound advice. In the end, Joe skilfully negotiated a settlement that exceeded my expectations and I am grateful.

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Joe Kafrouni has been our company’s lawyer from the beginning and has been instrumental in our journey as company owners and directors. When dealing with both complex and sensitive company issues, Joe is able to provide us with clearly articulated strategies that are well thought‐out and with the bigger picture in mind. He genuinely cares and is always willing to share his personal views, which are both honest and just. Joe is highly professional and knowledgeable in his field. You will definitely benefit having him on your team.

Joe, I appreciate it was a very long day yesterday but we got there in the end. I thought you did a great job and I enjoyed watching your approach and the way you conducted the mediation.

Joe, as you know we were in a very difficult position with our company before we engaged you as our lawyer and fortunately, even with the odds stacked heavily against us in our shareholders dispute, you managed to pull us through to victory. You are a true credit to the industry not only because of your skilled negotiating tactics but also due to your personable nature, which made us feel comfortable in such a volatile situation.

The biggest lesson I have learnt from you recently, Joe, is that it pays to have a professional such as yourself on my side to deal with matters that I am unequipped to handle … so I can carry on with the task at hand of building my business! Thanks again, I’ll take pleasure in recommending your services to anyone in need.

A big thank you for your time today, Joe. Thankfully we managed to strike a deal although it took a little while to do. Thanks for your patience and perseverance.

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