E-Si told to pay around £70k to former business partner
Saturday 6th July 2013, 12:00PM BST.
ECO business E-Si will have to pay almost £70,000 plus interest to Deputy Arrun Wilkie and his former business partner, the court ruled yesterday.
Lt-Bailiff Hazel Marshall found an agreement signed by E-Si during a merger between it and Mr Wilkie’s and David Barlow’s Aqua Technique Partnership was valid and binding.
This meant, she said, there was an obligation for E-Si to take on the partnership’s debts, which it had not.
She therefore found in favour of Deputy Wilkie and Mr Barlow. She added that what was written in the agreement, which both parties signed on 20 March 2009, was quite clear.
‘I find that the defendant did undertake by agreement that it would pay off the debts acquired by Aqua Technique,’ she said.
Lt-Bailiff Marshall said Paul Fletcher, E-Si’s chief executive, had tried to argue that it had agreed to pay Aqua Technique’s debts but only if the merger was successful.
‘I have to say I reject this,’ she said. ‘This is not what the agreement said.’