The Circuit Court satisfied Chirag Mody’s appeal of 28 May 2021 and sent the dispute back to the County Court for further resolution. The dispute is related to the performance of an enterprise’s contract of sale, i.e., whether the seller can demand fulfilment of the second instalment, i.e., EUR 100,000, under the contract of sale. The Circuit Court accepted Chirag’s explanation that, in the given case, guarantee liability cannot be applied and, therefore, the buyer is not allowed to leave the second instalment for the acquired enterprise unpaid. The Circuit Court also confirmed Chirag’s position that it cannot be concluded from the three financial assessments submitted by the counterparty that the counterparty’s financial calculations regarding the purchase price are correct. The County Court must reassess the facts.
The Circuit Court accepted his explanation and sent the dispute to the County Court for further resolution.