Partnerships and LLPs: Agreements and Exits – for Senior Executives

We regularly advise partners entering into partnership or LLP agreements, and in relation to partnership LLP disputes and exits.
Most partnerships are in the professional services sectors and as such are regulated. We understand the interplay between asserting contractual and statutory rights, whilst observing regulatory obligations and preserving professional reputations.

Disputes that arise can include threats to expel and a careful examination and, where necessary a challenge to, the process being followed, the consideration of possible bias arising and the fiduciary and regulatory obligations of all parties.

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Experience:
Acting for an equity partner of a well-known management consultancy. Negotiating their exit in context of complex LLP notice provisions and post termination restraints enabling them to take up a new high profile senior role and advising on complex bonus and share provisions in their new contract.
Acting for a partner in real estate investment management firm in relation to their threatened expulsion as a Partner, including negotiating ‘co-invest’ interest and ‘carried interest’ benefits in various investment vehicles.
Acting for an equity partner in relation to allegations of misconduct which led to a referral to the applicable regulatory body. We were able to successfully deal with the matter which resulted in no action being taken by the regulatory body against our client, thereby preserving their ability to practice.
We are a leading global investment firm’s panel of solicitors recommended to departing Partners who require advice on their settlement agreements. The remuneration structures include carried interest and dollars at work and we regularly advise in relation to these.
Acting for a female equity partner of a global US head quartered law firm following an attempt to expel her from the partnership. Issued proceedings for sex discrimination, and following mediation, reaching a seven-figure severance.