Syndicate should indicate intentions

Our roving syndicate has run into problems as a result of COVID-19. A shoot, to which we had paid a deposit, has gone out of business and is refusing to repay the money. I suspect it may have gone bankrupt. What are our responsibilities to the syndicate members in this situation? David says: That will depend very much on what sort of agreement you have with your fellow syndicate members. One of the advantages of a syndicate is that risk is shared in these circumstances. However, unless you have a formal agreement, not all syndicate members may take that view. Informal arrangements can lead to problems and generate ill feeling if things go wrong. You need to draw up a proper syndicate agreement, ideally with legal input, so that everyone…

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Sporting Gun (Digital) - 1 Issue, January 2021

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