When commercial or professional partnerships develop internal problems the effects can be immediate, explosive and ultimately damaging if not terminal to the business. There is the complication of owner managers having a strong personal interest in the partnership's business and their contribution to its success or otherwise.
We aim to give swift, proper and pragmatic advice on the interpretation of the partnership agreement to eliminate or reduce any problems. We also advise and represent on appropriate action to end the partnership, protect it's assets and to resolve ongoing issues between the former partners.
Wherever possible we vigorously promote the early use of mediation or other resolution techniques to clarify, reduce and ultimately settle all points of dispute, particularly where the partnership is continuing.
Work experience/case studies:
- Advising and representing the ongoing partners in an accountancy practice over the compulsory retirement of a former senior partner and all accounting and practice management issues arising.
- Advising and representing a retiring partner in a doctor's practice over the interpretation of the partnership agreement and issues over the valuation, protection and realisation of partnership assets.
- Advising a partner in a doctor's practice on the legal effects of his fellow partner's behaviour and breaches of agreement, the options for action under the partnership agreement and overriding tactical considerations.
