BUSINESS OBJECTIVES ACHIEVED
Are you a business or partnership looking to sell?
Are you a partner or shareholder looking at terminating your partnership or shareholders agreement?
Our corporate solicitors will work with you to understand your issues and requirements, tailoring our service to your individual needs.
We provide support on:
We work with all sized businesses across a range of sectors including manufacturing, engineering, construction and hospitality.
If you entered into a partnership agreement when becoming a partner the first step when deciding whether or not to retire will be to consult the agreement. It is common for agreements to contain provisions requiring that a partner that wishes to leave has to first provide notice of his intention to the others. The agreement may also deal with whether a retiring partner can withdraw his capital or assets from the business or whether he can sell his share to an unrelated third party. Instead the partner may first have to offer his share to the continuing partners.
In the absence of a partnership agreement, a partner may retire by simply giving notice of his intention to retire to the other partners. Unless the remaining partners agree to continue the partnership, the partnership will end and the assets shall be divided amongst the partners.
A member of our team can help you through the process of retirement or dissolution of a partnership.