Searched: "dissolution"
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A partnership agreement will typically contain a provision specifying what happens if a partner wishes to exit the partnership - for example, in the case of retirement. The agreement will then typically also contain a provision specifying how the outgoing partner's share in the partnership is to ...
The Supreme Court made orders in 2017 regarding the winding up of a partnership that operated a real estate agency. The two former partners agreed upon the existence and duration of their partnership, and upon a need for partnership accounts to be taken under the supervision of the Court, but th...
A recent Supreme Court decision (Cole v Lee [2017] NSWSC 1011) has highlighted the importance of having a Partnership Agreement and following the provisions of said Agreement when looking to terminate or retire from the partnership. Background to the matter The plaintiff (Ms Cole) operated a ph...
Just because you’re friends doesn’t mean that you won’t run into problems when you open up a business together. The same applies if you go into business with family members – you still need to treat it as a commercial transaction, and put all the necessary devices in place to ensure that the rela...
