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Partnerships
Whether you are joining or leaving a partnership, taking advice early is the key to getting the right outcome. It is essential to negotiate a decent deal at the outset as members of LLPs cannot claim constructive dismissal and walk out, expecting to be compensated.
We have represented partners from a range of professions, including stockbrokers, accountants and management consultants. We recently represented an architect in a dispute over whether he was a partner or an employee, and we have advised several female partners who were facing gender discrimination.
Our strong reputation means that lawyers from other firms frequently consult us on complex issues relating to LLPs. For instance, we acted for the partners in the securitization team at law firm Norton Rose on their move to Baker & McKenzie. Meriel Schindler, a partner in the employment team, recently negotiated with a Magic Circle law firm on behalf of a partner who was suffering from anorexia.
We can also assist in situations where the lines between partnership, shareholding and employment are blurred. The co-founder of one successful British business consulted us because he was being ousted as an employee of the company. Our client believed that this was due to a disability, but his co-founders alleged gross misconduct. The terms of his shareholder agreement also meant that he could have lost shares worth millions of pounds. We argued that our client was being discriminated against as an employee, and further that his arrangement amounted to a quasi-partnership. The company settled the dispute, with the result that our client was able to resign rather than being dismissed for gross misconduct and received payment for his shares.
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Claire Christy
Partner | London
Emma Sanderson
Consultant | London
Christina Morton
Senior Knowledge Lawyer | London
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