There are a variety of reasons why disputes arise in partnerships and, when they do, they can be immensely troublesome for the business.
Our commercial litigation team has expertise covering all aspects of partnership including disagreements around the strategic direction of the partnership, unsatisfactory partner performance, the dismissal or retirement of a partner and allegations that a partner has been underhand with the partnership finances.
When a partnership dispute arises, it will typically fall into one of two categories.
- Partnership Agreement: This agreement will set out the responsibilities and obligations on each of the partners and also include provisions governing how disputes will be dealt with should they arise.
- Partnership Act 1980: Partnerships without a formal written agreement will be governed by the Partnership Act 1890. Under this type of partnership, there are no dispute resolution procedures to follow and, as such, will play out in the courts, which can be costly.
In both categories of partnership it is vital for both parties to seek advice at an early stage. With suitable intervention legal proceedings can often be avoided.
If you require any assistance in relation to these matters, please do not hesitate to contact us on 0161 832 3434 or by completing our online enquiry form here.