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Joint Ventures

Joint Ventures

Two men had run a greyhound syndicate for some time, but had fallen out over unpaid kennel fees. Each wanted the dogs and bitches which would preserve the blood lines registered to them; neither wanted to be caught having to pay what they regarded as the other’s unpaid kennel fees under joint and several liability.

Chris drew up a spreadsheet setting out all the animals, their values to be agreed, and the syndicate’s debts. The values of the “assets” were agreed, responsibility for payment of the debts was agreed, and there were undertakings for reimbursement of any debts paid by the “wrong” party. Each party became the unfettered owner of their own dog dynasty.

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I thought you handled the matter admirably.