Restraint of Trade: Nothing retro about restrictive covenants as retailer gets shirty over losses | Allen & Overy LLP
[author: Tom Lort] Following breach of a restrictive covenant, Score Draw applied to the court for damages and injunctive relief claiming PNH’s breach had caused Liverpool FC’s refusal to renew a retail licence: Score Draw were a licensed retailer of retro football shirts for Liverpool FC. The shirts were sourced from PNH, who had a shareholders agreement with Score Draw following a debt-for-equity swap in 2013. A clause in this agreement contained a restrictive covenant preventing PNH from soliciting or accepting custom from “Restricted Persons” in relation to “Restricted Products...
Source: jdsupra.com