Disputes - retirement
We acted for a partner in a veterinary practice intending to retire from the practice. We were instructed to prepare an account and arrange a valuation of the goodwill of the practice. The continuing partner in the practice refused to pay our client for any value attributable to the practice’s goodwill. The Partnership Agreement did not provide adequately for dissolution and retirement. These failures were not actionable because the client was out of time. Nevertheless, we achieved a beneficial payment and settlement for our client without recourse to proceedings, and assisted the client through a difficult process.
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.