Shareholder & Partnership Disputes
At Hallmark Solicitors, our expert litigation solicitors have considerable expertise in dealing with partnership and shareholder disputes across a wide range of industries, including farming, manufacturing and service industries.
Quite often there are disputes involving family businesses where arguments arise and allegations are made, often that the business is being run only for the benefit of majority shareholders, that there or conflicting or competing business interests, that there is failure to provide accounting and financial information, that people are being excluded from meetings.
We also have significant experience in derivate claims. This is a claim brought by the company itself rather than the shareholders against offending shareholders which may require them to repay money to the company.
In terms of partnerships, whilst very few ‘new’ partnerships are created, there are still thousands of ‘historic’ partnerships that continue in business to this day.
If the partnership has a partnership deed then any dispute or removal of a partner will be governed by the provisions of that deed, and there will be a 'framework' for how the dispute can proceed.
It should be noted, however, that in many cases, there is no partnership deed, and disputes are dealt with under the provisions of the Partnership Act 1890 ("the 1890 Act").
Because the 1890 Act does not include provisions in respect of removing a partner, if a dispute arises and a partner has to be removed, then often the partnership may have to be dissolved and the partners risk losing their business and having to repay debts for which they have unlimited joint and several liability.
If you are involved in a shareholder or partnership dispute, it is vital that you seek early legal advice in order to protect your interests.
With our Head Office based in Hull and two Consulting Offices in London and Leeds we are easily accessible for consultations. Call us on 01482 616 616 or 0800 037 1305 to book a free telephone consultation to discuss your issues and requirements.
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