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Disputes involving property co-ownership and informal business relationships are not uncommon. When personal relationships overlap with investment arrangements, the risk of unclear obligations and future disagreements rises significantly. The recent Supreme Court of New South Wales decision in Ky...
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...
