Shareholder and partnership disputes
Disputes between those in business together frequently arise and one of the most important considerations is how to resolve them without damaging the underlying business.
Typically, these cases involve companies (or LLP’s or partnerships) with relatively small numbers of shareholders. Those shareholders are usually also directors and may be the only directors of the company. The shareholders / directors will generally have fallen out with each other. The unfairly prejudicial conduct often takes the form of an exclusion of one shareholder / director by another from the affairs of the company. On other occasions, it arises because of the misappropriation by one shareholder / director of property or funds belonging to the company or of a business opportunity that might have been enjoyed by the company. In other cases it might take the form of wrongful dealings with shares, improper dividends, salary or other payments or improper conduct of the company’s affairs.
Part 30 of the Companies Act 2006 enables a shareholder in a company or a member of a LLP who is being treated in an 'unfairly prejudicial’ way to seek relief from the court (a similar jurisdiction exists in respect of other partnerships). This legislation gives the court very wide powers to control the conduct of the affairs of the company and its shareholders / directors. Such proceedings regularly result in the court ordering that one shareholder / director should purchase the shares of another at a value determined by the court to be fair in the circumstances.
Why should I choose a barrister?
Barristers are experts in the law. They deal in particular areas of law, day in, day out. They are best placed to advise you on your legal requirements, draft legal documents, advise on formal proceedings and use his or her advocacy skills to represent you to the highest standard in any court, tribunal or hearing.
Is mediation right for me?
If you are involved in any type of shareholder or partnership dispute, it might be worth considering mediation as an alternative to going to court. Mediation is usually a quicker and cheaper way to resolve a dispute. myBarrister can connect you to specialists in mediation.
Which barrister should I choose?
If you need expert advice on any shareholder or partnership dispute, choose a barrister on myBarrister who has specialist expertise in this area. Barristers will provide you with guidance so you that you know where you stand and can take the right decisions about what to do next.
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