When you enter into a Partnership you do not envisage anything going wrong unfortunately, circumstances can arise that you never anticipated and which can cause disputes within that partnership.
Disputes arise more commonly where there is no partnership agreement. Where this is the case, the partnership will be governed by the Partnership Act 1980 and is known as a ‘Partnership at Will’.
We understand how disruptive a partnership dispute can be and how it can detrimentally affect the profits of a business as well as the financial affairs of the individual partners. Partnership disputes can arise from anything ranging from:
- Direction of the partnership
- Mismanagement by a partner
- Breaches of a partnership agreement
- Bringing the partnership to an end
Where appropriate, we will try and achieve a practical solution by way of mediation before proceeding to the courts. If a mediated settlement agreement cannot be reached, we can assist in making applications to the court fully explaining each step of the process.
We pride ourselves in not only being aware of the legal ramifications but also the commercial reality which ensures that we advise on the best way forward to resolve the issue as amicably, quickly and commercially efficient as possible.