A partnership business is founded on a relationship of trust and good faith between the partners. Causes of serious disputes are wide and similar to those arising between directors of companies. Examples include
- disagreements can arise over the overall direction and running of the partnership
- a partner may seek to make personal gain in breach of his duties to the firm
- general partnership management
Partnership disputes are often acrimonious.
The best outcome for winding up a partnership business relationship is by agreement, perhaps with assistance from an alternative dispute resolution process, such as mediation. In cases where this is not achievable Heald will advise and guide clients on the appropriate court application and procedure.