Our Partnership Disputes Service
If you find yourself involved in a partnership dispute or have been threatened with legal action, our highly renowned team of dispute resolution solicitors can help guide you through, including providing advice on issues relating to the retirement of a partner, expulsion from the partnership and asset valuation.
We actively seek to resolve disputes as early as possible and recognise that avoiding court is a priority for everyone. In the first instance, we will always try negotiating with the opposite party and view court as a last resort.
In the event of court proceedings become necessary, we will assist you with the presentation of your case and can draw upon the expert guidance of our extensive professional network of accountants, valuers and insolvency practitioners.
Our approach will always be based around you.
Our Partnership Disputes Experience
Case 1:
Representing two remaining partners dealing with the ramifications of their fellow partner retiring from the partnership and advising on issues relating to:
- Breaches of statutory rights and duties of partners under the Partnership Act 189
- Breaches of the terms of a partnership agreement
- Disputes over share of profits, distribution of assets and reconciliation of debts
- Liability of partners
- Suspension, expulsion or retirement of a partner
- Dissolution or winding up a partnership
Case 2:
Acting for shareholders in a technology company. Dispute with their co-director and shareholder. A share transfer notice contained in a shareholder’s agreement was triggered by the clients against their business partner due to transactions that were carried out which could have brought the business into disrepute.
- The business partner disputed the allegations and threatened an action for unfair prejudice pursuant to Section 994 of the Companies Act.
- The matter was settled on a commercial basis and the partner resigned as a director and sold his shares for a negotiated sum.
Case 3:
Acting for a claimant in a shareholder dispute arising out of the alleged unlawful retrospective cancellation of the client’s shares in a company and the claim for fair value for our client’s shares following a subsequent sale of the company since our client remained a shareholder. Potential unfair prejudice petition to obtain declaratory relief/fair value for his shares.
Why Work With Our Dispute Resolution Team
- For the past seven years, the Legal 500 has rated us as a Top Tier legal firm.
- You will get access to more than 9 dispute resolution professionals from the Myerson Dispute Resolution Group, who will assist you with , shareholder, and partnership disputes, professional negligence, commercial agency and more
- You will obtain city-quality dispute resolution legal help at regional pricing.
- We offer a partner-led service to make sure you get the greatest legal counsel and support with a focus on business.
- Our large and experienced team can work quickly to fulfil your deadlines.
- We recognise that each transaction is unique to your specific circumstances and that you require the assistance of a dispute resolution solicitor who has dealt with a wide range of clients and types of work.
- We are a full-service law company with a single location, which ensures our employees interact effectively and efficiently.
- We employ the most recent technology to make sure that we are operating as effectively as possible and that a client's location is not a barrier to us providing outstanding customer service.
- All of our clients receive free newsletters and webinars that keep them informed about dispute resolution legal developments. View our most recent webinar on dispute resolution updates here.
- Check out the Myerson Promise for more information on the benefits of working with us.
Funding
Our Dispute Resolution Solicitors are happy to discuss your situation in a no-obligation and free consultation by telephone.
We also offer different funding arrangements to suit your individual needs. Conditional fee agreements or “No win, no fee” arrangements may be available, as may insurance policies or third-party funding.
At Myerson, our litigation funding team will provide guidance in handling the financial risk that comes with litigation and directing any of those costs off your credit sheet.
We understand the costs that come with litigation, which is why we act with integrity. We will only provide funding as an option if it is in your best interests. We can advise you on whether your claim is suitable for litigation funding.
Find out more about the different litigation funding options that may be available to you.
Testimonials
Partnership Disputes FAQ
Does a partnership exist?
For a partnership to exist, a group of individuals must be carrying on business in common with a view to making a profit. Partnership disputes can arise without there being any formal documentation having been drawn up between the partners. This means that individuals can find themselves in partnership without even knowing they are and, when problems arise in the partnership, may find themselves in the middle of an often messy and costly legal dispute.
What are the terms of the partnership?
In the absence of a partnership agreement, the terms of the Partnership Act 1890 will apply. This is a very brief and vague piece of legislation which leaves a lot of matters to be determined.
If there is a partnership agreement, often the terms of these will change over time so it is important to be aware of any updates to the partnership agreement or other agreements that govern the partnership.
What about liability and decision making in a partnership?
Partners are jointly and severally liable for all debts relating to the partnership and liability is unlimited since a partnership is not a separate legal entity (unlike an LLP or limited company). In the event partners have changed over time, it is important to ascertain the identity of the partners at the time any liabilities were created.
Unless there is an agreement to the contrary, standard business decisions affecting the partnership can be made by a simple majority. Decisions regarding the nature of the partnership business require unanimity.
Removal of a partner from the partnership
Unless there is an express power of expulsion set out in a partnership agreement, there is no automatic right to expel a partner from the partnership. In such circumstances, it will be necessary for the partners to reach an agreement. If no agreement can be reached, it may be necessary to dissolve the partnership.
Dissolution of a partnership
Dissolution of a partnership is often complex and does not in itself terminate all rights and obligations of the partners. For example:
- Partners of the dissolved firm will remain bound by any obligations entered into prior to the dissolution;
- If proper notice of dissolution has not been provided, contracts entered into by one of the partners may legally bind all of the partners;
- After dissolution, the partnership relationship will continue insofar as is necessary to properly wind-up the affairs of the partnership and complete any outstanding transactions entered into prior to dissolution.
Meet Our Specialists
Home-grown or recruited from national, regional or City firms. Our specialists are experts in their fields and respected by their peers.
Contact Myerson Solicitors
Complete the form below, or alternatively, you can call Myerson Solicitors on:
0161 941 4000
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