£3.4m LLP member whistleblowing claim permitted to proceed

£3.4m LLP member whistleblowing claim permitted to proceed

Summary Losses resulting from expulsion following whistleblowing can be very substantial, and there is no statutory limit on the amount of compensation that can be awarded. But in some cases the expulsion of the whistleblower may: be based (at least on the face of the...

LLP + no LLP members’ agreement = litigation

The recent case of Eaton v Caulfield & others (an unfair prejudice petition brought under section 994 of the Companies Act 2006, coupled with a just and equitable winding up petition under section 122(1)(g) of the Insolvency Act 1986) highlights the difficulties...

Capital retention woes

“… Possession being nine-tenths of the law, a partner/member in this position may have to sue to recover his capital …” A worrying trend has been emerging.  It has become much more common for partners and LLP members leaving professional...

LLP membership trumps employment rights?

“… At the outset he has been lulled into a false sense of security, and may consider himself to be the victim of a scam …” Note: this post is now out of date following subsequent tax legislation and case law. Lawyers and accountants have been...

Senior partner-itis

“… Typically the senior partner becomes complacent about the fabulous hand of cards that life has dealt him and starts to presume that he can do no wrong …” It may come as no surprise that amongst professional practices that have no provision...

The 10 most important partnership or LLP deed clauses

…Recessions bring out the worst in people… A recession has a way of exposing weaknesses in legal drafting. As practices try to respond to the economic climate, management teams consult the fine print of their partnership deed or LLP members’ agreement, and...

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