Dominic | Partnership dispute
Upon the purchase of Company B by Company CP, CP contractually agreed to purchase an agreed amount of supplies from the previous owners of B, for an agreed length of time.
Working relations between the 2 partners broke down & subsequently one partner ceased to work in the business. An acrimonious dispute occurred between the partners concerning the date of dissolution and the terms of dissolution. A written agreement was written by both parties and an expert was instructed on a single joint basis to calculate any balance due or from the ex-partner in respect of his capital account.
The current partner of the business instructed Bartfields as it was considered that the single joint expert had been overly generous in his findings, to the ex-partner.
Bartfields considered that the dissolution accounts prepared by the expert did appear to be in favour of the ex-partner, and detrimental to the current partner.