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Feature case study

“A Positive Experience”:  Entrepreneurs sell their footwear business in Hong Kong

Existing clients of insurance broker Stackhouse Poland were in the process of selling their fashion business to a company based in Hong Kong.  As part of the deal, the buyer insisted that the sale contract be governed by Hong Kong law.  The clients considered this to be a fairly onerous condition.  The clients also wanted to enjoy the proceeds of their sale but would have the warranty exposure hanging over them for a number of years.

Their advisers, Simon Chalkley of Redd Solicitors, and Russell Sessions and Ryan Sherer of Stackhouse Poland sought insurance as a solution to their clients’ concerns.  Working with Stackhouse Poland and Redd Solicitors, Chubb provided the warrantors with a sellers’ warranty and indemnity policy which protects them against claims brought in Hong Kong and covered the full extent and duration of their potential liabilities under the contract.

Using insurance in this way was a positive experience for Simon Chalkley and Russell Sessions and they explain their experience below:

“We asked the Chubb M&A team to work to an unrealistically short time table, yet they did everything they could to make it happen, and succeeded. I was impressed by their speed of response, proactivity and high level of professionalism throughout.”
Simon Chalkley, Partner, Redd Solicitors LLP

"With such an important client it was essential that the insurance solution was approached and presented promptly and precisely. Chubb’s involvement at an early stage of the negotiations, and Chubb’s knowledge and expertise, put the clients’ minds at rest.  I would have no hesitation in recommending Chubb’s mergers & acquisitions team to any of our clients or legal connections."
Russell Sessions, Corporate Account Executive, Stackhouse Poland Ltd