Course description
This 1 hour introduction will consider the key issues in most partnership and LLP exit disputes, particularly in financial services. It will highlight the most common risks, ways to avoid them on both sides and potential remedies open to each party.
Topics covered will include partner exit routes (voluntary and involuntary), business protection on exit (protecting confidential information, client/investor connections and stability of the workforce), duties owed by partners to the firm before and after termination, legal remedies for the firm and risks for the departing partner, and common provisions in retirement deeds. Presenter Catriona Watt is a partner at Fox & Partners who specialises in employment and partnership law. Be sure to tune in and benefit from her expertise.
Upcoming start dates
Outcome / Qualification etc.
Training Course Content
Introduction
This introductory level webinar will consider the key issues in most partnership and LLP exit disputes, particularly in financial services.
It will highlight the most common risks, ways to avoid them on both sides and potential remedies open to each party.
What You Will Learn
This webinar will cover the following:
- Partner exit routes - voluntary and involuntary
- Expulsion
- Compulsory retirement
- Voluntarily retirement on notice
- Statutory and equitable limits on decision making
- No repudiation
- Business protection on exit - protecting confidential information, client/investor connections and stability of the workforce
- Post-termination restrictive covenants
- Good/bad leaver provisions/carried interest vesting periods
- Timing of bonus payments/priority profit distributions
- Claw-back mechanisms
- Period for return of capital contribution
- Duties owed by partners to the firm before and after termination
- Duty of good faith
- No profit/no conflict/confidence/disclosure
- Contractual duties
- Legal remedies for the firm and risks for the departing partner
- Challenge to expulsion/compulsory retirement
- Injunction/damages/springboard relief
- Unfair prejudice
- Forfeiture in certain circumstances
- Investigations into unlawful conduct
- Common provisions in retirement deeds
- Termination date
- Arrangements to termination
- Payments and timing of payments
- Post termination rights and obligations
- Waivers
Expenses
MBL Seminars Limited
MBL is a leading learning and development provider for professional service firms. Over the past 18 years, more than 198,000 people across 23,000 different organisations spanning 81 countries, have chosen us to deliver their training. With over 800 expert speakers...