Dipsutes - winding up petition: Unfair Prejudice
Howard Rutter represented an LLP Member in a substantial London IT Practice who was excluded from its management. We issued a petition, under section 994 of the Companies Act 2006, for repayment of the client’s 10% beneficial interest in the LLP business, worth around £3 million, and achieved a successful resolution for our client.
Howard Rutter also represented an accountant who was an LLP member and had been subjected to harassment by various other LLP members. We advised regarding potential winding up proceedings under section 994 of the Companies Act 2006 for unfair prejudice. The claim was for a buyout of the client’s share in the LLP business and/or a petition for unfair prejudice. Liability was denied and there were substantial issues over valuation of the goodwill in the LLP business. Proceedings were avoided and ultimately we achieved a beneficial amicable resolution and our client retired from the practice with a substantial payment for goodwill.
Please note this information is provided by way of example and may not be complete and is certainly not intended to constitute legal advice. You should take bespoke advice for your circumstances.