Back to Blogs

Searched: "dissolution"

Showing 3 Results:

Dissolving a business partnership in the absence of a partnership agreement

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...

Getting out of a partnership - the importance of the partnership agreement

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...

But we're friends - we don't need a partnership agreement

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...