Although a well drafted Shareholder Agreement or Partnership Agreement is always the best way to minimise disputes, not everyone has that in place and in any case arguments can still arise.
We take a pragmatic approach to business rifts, recognising that swift action is the way to limit the damage and that a protracted fight, with lawyers’ fees rising and business confidence ebbing, is rarely helpful to either party.
Partnerships are governed by the general laws of partnership and contract and in the absence of a written agreement by the Partnership Act 1980. Shareholders’ relationships and Directors’ duties are governed mainly by the Companies Acts and the Articles of Association. One thing they all have in common is that disputes are rarely straightforward.
The final remedy when business partners fall out is for their partnership or company to be wound up or dissolved but, short of that, the court can make various orders to protect minority interests or prevent wrongful conduct or breach of duty and can avoid damages by way of compensation.
We Advise On:
- breach of fiduciary and statutory duties
- shareholders’ rights and minority protection
- representative actions on behalf of companies
- dissolution of partnerships
- expulsion and retirement of partners and directors
- team moves and restrictive covenants