LLPs & Partnerships
We have a detailed understanding of the variety of legal, commercial and regulatory factors that our clients deal with as part of the establishment and management of LLPs and other types of partnerships or members’ associations.
Our bespoke advice is specific to the needs of each client and tailored to meet different challenges across a range of sectors including the regulated financial services industry and professional practices and accountants, lawyers, surveyors and recruitment agents. We are also experts in the use of LPs and LLPs as joint venture vehicles and the establishment and running of members’ associations.
Our advice extends beyond the narrow corporate space too. We advise partnerships in other areas including IP and commercial, employment, corporate tax, dispute resolution and collective investment schemes.
This means we can help advise on a range of issues that members of partnerships face – including admission of new members, profit sharing and capital, exits, partnership disputes and succession planning.
We specialise in LLP disputes, including issues in connection with:
· expulsion, retirement, exclusion and dismissal
· profit sharing
· leadership and ownership challenges
· personal and partnership liabilities
· goodwill, good faith, fiduciary duties, implied terms, fundamental breaches
· unfair prejudice, management team or corporate member liability
· discrimination and employment rights
· enforcement of restrictive covenants
· guarding against partner/team defections as well as finding paths through partner/team moves for acquisitive firms
- We advised a leading London estates agency on its conversion to LLP status.
- We advised a members golf club on its conversion from an unincorporated members golf club on its conversion from an unincorporated members club to a guarantee company with a related approved loan note offer to its members to fund the purchase of the freehold.
- Advice on spin out agreement for sovereign wealth fund manager setting up new hedge fund.
- 8 figure high court LLP ownership and profit share claim for partner in start-up boutique bank.
- Advice on structuring and partnership issues over leading high value event optimisation and custodial fund JV with custodial banks.
- 8 figure claim for family wealth vehicle against private investment office, founders and partners.