Is your partnership at breaking point?
Fed up with partners not pulling their weight?
A partnership dispute can happen for many reasons: dishonesty, impropriety, absence from the business or misuse of partnership time and assets. In the absence of a partnership agreement the Partnership Act 1890 dictates that if the partners cannot agree, the court can order that the business is wound up and the assets shared between the partners.
If your partnership is currently having problems, one of our experienced lawyers can help you to address the issues and possibly revise the partnership agreement. Myers & Co provides expert guidance to minimise conflict through discussion and mediation. We can help to ensure that a new working agreement engenders goodwill and the continuation of the partnership.
Where problems are more serious, we can advise on suitable management strategies. If a partner needs to leave we can advise on succession planning and implementing an exit strategy. If necessary, we can also negotiate a settlement agreement that avoids any discrimination claims, has the necessary restrictive covenants and provides for the return of capital where appropriate.
If a partner’s conduct is prejudicial to the business or, if the partnership is trading at a loss, then dissolution may be the only option. We can advise how best to achieve an effective and fair dissolution of the partnership.
If a partnership has to be dissolved the implications need to be properly considered. You may have an obligation to complete existing contracts and so need to insist that your co-partners cooperate in completing the contracts as part of the winding up process.
Our solicitors offer many forms of dispute resolution that could help you to avoid drawn-out and expensive court proceedings. We have a high rate of success through the processes of mediation and arbitration that help you maintain an ongoing working relationship whilst settling the dispute.
Where it is necessary to go to court to settle a partnership dispute, with Myers & Co you will receive the very best legal advice and representation.
Based in Stoke-on-Trent, Staffordshire, our specialist team has helped a wide range of businesses resolve commercial disputes. For further advice contact Myers & Co on 01782 577000.
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