Verfügbarkeit: Partnership law

Partnership law: the modern law of firms, limited partnerships and LLPs

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Bibliographische Detailangaben
Hauptverfasser:	Blackett-Ord, Mark (VerfasserIn), Haren, Sarah (VerfasserIn)
Format:	Buch
Sprache:	English
Veröffentlicht:	Haywards Heath Bloomsbury Professional [2015]
Ausgabe:	Fifth edition
Online-Zugang:	Inhaltsverzeichnis
Beschreibung:	CXII, 1108 Seiten
ISBN:	9781780438207 1780438206

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245	1	0	\|a Partnership law \|b the modern law of firms, limited partnerships and LLPs \|c Mark Blackett-Ord FSA, MA (Oxon) and Sarah Haren MA (Oxon), BCL (Oxon)
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Datensatz im Suchindex

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adam_text	Contents Page Preface......................................................................... v Table of Statutes............................................................. xxi Table of Statutory Instruments............................................. xxxiii Table of Cases............................................................. xxxix Chapter 1 Partnership in general....................................... 1 1 THE NATURE OF PARTNERSHIP........................................ 1 2 THE HISTORY OF PARTNERSHIP...................................... 2 A The origins................................................... 3 B The statutes of 1865, 1890 and 1907........................... 3 C Later development............................................. 6 3 FOREIGN FIRMS AND COMPANIES..................................... 8 A Foreign companies and apparent companies..................... 8 B Scottish and Irish partnerships............................... 8 C Isle of Man and Channel Islands.......... ................... 9 D The nature of foreign partnerships.......................... 9 E Recognition by the courts of England and Wales................ 10 F Procedure against foreign firms.............................. 10 Chapter 2 Whether there is a partnership and whether a person is a partner.... 13 1 EXPRESS AGREEMENT, COMPLETE OR INCOMPLETE......................... 14 A Agreement that there is or is not a partnership............. 14 B The issue as to the existence of the partnership............... 17 C Sham partnerships.......................................... 18 D Partnership options.......................................... 19 E Proposals and preparation for business....................... 20 F Draft agreements acted upon or not acted upon.................. 21 G Deeds and written and oral agreements........................ 22 LI Continuation, and whether there is a new partnership.......... 23 I Salaried partners...................................... 24 2 THE EXISTENCE OF THE PARTNERSHIP WITHOUT EXPRESS AGREEMENT......................................................... 24 A The implication of partnership generally,...,............ B Carrying on a business in common with a view of profit........ 3 SHARING OF PROFITS AND PROPERTY AS EVIDENCE OF PARTNERSHIP............... A Sharing net profits.... Where sharing profits does not create a partnership.... Sharing gross profits.... Sharing losses........ B C D E F G IT Employees and agents ....... Lenders........................ Legatees....................... Sharing property ............... 24 26 31 31 34 35 36 37 40 41 42 4 JOINT VENTURES..................................................... 43 A Partnership contrasted with other joint ventures.................. 43 B Rights and liabilities of joint venturers......................... 44 5 OTHER ENTITIES AKIN TO PARTNERSHIPS................................ 46 A Agents......................................................... 46 B Barristers5 chambers............................................. 47 C Commercial agents................................................ 48 D Civil partnerships............................................... 48 E Clubs and societies.............................................. 48 F Companies limited and unlimited.................................... 49 G Employment......................................................... 50 H European Economic Interest Groups................................ 50 I Family partnerships............................................. 51 J Franchises........................................................ 51 K Friendly societies................................................ 51 L Landlords and tenants............................................ 51 M Mutual benefit associations.................................... 52 N Marriage; boyfriends and girlfriends............................. 52 O Mining companies in the stannaries............................. 53 P Public-private partnerships...................................... 53 Q Quasi-partnerships........................................... 53 R Share farmers.................................................... 53 S Sharia law........................................................ 54 Chapter 3 Capacity.......................................................... 55 1 THOSE ENTITIES AND PERSONS THAT HAVE CAPACITY TO BE PARTNERS........................................................ 55 A Those with capacity to be partners................................ 55 B Those who may lack capacity to be partners........................ 58 2 MINORS......................................................... 60 A The minority of a partner......................................... 60 B Affirmation of the partnership..................................... 61 C Judgment and execution........................................... 61 3 MENTAL INCAPACITY: DEMENTIA, MADNESS AND DRUNKENNESS......................................................... 61 A The partner mentally incapable when commencing partnership........ 62 B Patients of the Court of Protection............................... 62 C Loss of mental capacity during the course of the partnership..,,.. 63 4 DISQUALIFICATION, BANKRUPTCY AND INSOLVENCY........................ 63 A Disqualification under the Company Directors Disqualification Act 1986............................................................ 64 B A partner s bankruptcy............................................ 64 C Solicitors5 practising certificates................................ 65 Chapter 4 illegality...................................................... 67 1 FIRMS THAT ARE ILLEGAL........................................ 67 A Common law illegality.............................................. 68 B Statutory illegality............................................ 68 C Fraud and other tort, champerty, corruption, immorality and gambling...................................................... 70 D Foreign relations................................................ 73 E Anti-competitive practice: English and European law.............. 74 F Unqualified and disqualified professionals...................... 75 G Former restriction on firms of more than 20 members.................. 77 H Financial regulation.................................................... 78 2 THE EFFECT OF ILLEGALITY.................................................. 78 A The effect generally.................................................... 78 B The relations of outsiders with an illegal firm...................... 79 C Illegality causes immediate dissolution................................ 81 D Enforcement of rights between partners............................... 82 E The illegality abandoned................................................ 86 Chapter 5 Holding out.................................. 1 LIABILITY OF ONE WHO IS HELD OUT TO BE A PARTNER 2 WHAT AMOUNTS TO A SUFFICIENT REPRESENTATION .... 3 4 5 6 7 A His own representation about himself.................. B A shadow partner...................................... C Another’s representation knowingly suffered by him TO WHOM HE IS LIABLE FOR WHAT HE IS LIABLE............................ THE RETIRED, BANKRUPT OR DEAD PARTNER.............. PASSING-OFF: A PERSON FALSELY REPRESENTING HIMSELF TO BE A MEMBER OF THE FIRM......................... LIABILITIES BETWEEN THE FIRM AND THE PERSON HELD OUT................................................. 87 87 88 89 89 89 91 92 93 93 94 Chapter 6 Sub-partnerships and group partnerships....................... 95 1 SUB-PARTNERSHIPS.................................................. 95 A Sub-partnerships generally...................................... 95 B A partnership of a partnership share............................ 96 C Another firm being itself a partner............................. 96 D A sub-group within a larger entity............................ 96 E Implied terms of the sub-partnership........................... 97 2 GROUP, PARALLEL AND CORPORATE PARTNERSHIPS........................ 97 A Group partnerships........................................... 97 B Parallel partnerships........................................... 98 C Corporate partnerships....................................... 98 Chapter 7 The partnership agreement. 1 THE PARTNERSHIP AGREEMENT A The minimum agreement.................................. B The duration and continuation of the partnership ...... C Construction of the partnership agreement.............. D Penalties, forfeitures and unfair and onerous conditions 2 VARIATION OF THE PARTNERSHIP AGREEMENT.............. A Express and implied variation between existing members B A new partner joining the firm................... C Partnership options............................ D Mergers 99 99 99 101 105 107 110 110 112 113 114 Chapter 8 Partnership assets and liabilities 1 PARTNERSHIP PROPERTY............................ A introduction............................... B Categories of partnership property............ C Partnership property contrasted with other property 117 118 118 120 125 2 THE PROPERTY OF INDIVIDUAL PARTNERS CONTRASTED WITH THAT OF THE FIRM...................................... 125 A Proprietary and non-proprietary rights................... 126 B Rules for ascertaining whether property belongs to one or more partners or to the firm................................. 126 3 TRANSFERS OF PROPERTY BETWEEN THE FIRM AND ITS MEMBERS................................................... 135 A Agreements between the firm and its members..............135 B Creditors............................................... 135 C Land: the requirement of writing.........................136 D An agreement will not be inferred without evidence...... 137 4 PARTNERSHIP LAND, LEASES AND TENANCIES.....................138 A Partnership land generally.............................. 138 B The nature and vesting of partnership land............... 140 C Partnership leases, tenancies and reversions ............ 142 D Agricultural land..................................... 146 E Partnership mortgages and charges........................ 148 5 GOODWILL AND THE FIRM NAME.............................. 148 A Goodwill.............................................. 148 B The firm name......................................... 151 C Companies Act 2006, Part 41.............................. 153 6 CONFIDENTIAL AND PRIVILEGED INFORMATION AND INTELLECTUAL PROPERTY............................... 156 A Confidential information belonging to the firm........ 157 B Confidential information belonging to a client.......... 159 C Client loyalty.......................................... 159 D Privilege............................................... 159 E Copyright, designs and other intellectual property....... 160 Chapter 9 Partnership capital and partners’capital.............. 161 1 BACKGROUND................................................ 161 2 THE MEANING OF ‘PARTNERSHIP CAPITAL’.................... 162 3 PARTNERS’ CAPITAL..........................................162 4 ACCOUNTING FOR CAPITAI................................... 164 5 CURRENT ACCOUNTS....................................... 164 6 VARIATION, AND BLENDING PARTNERS’ CAPITAL AND CURRENT ACCOUNTS.......................................... 164 7 INTEREST ON CAPITAL ACCOUNTS.............................. 165 8 CONTRIBUTIONS OF CAPITAL................................ 166 9 THE OWNERSHIP AND REPAYMENT OF PARTNERSHIP CAPITAL.. 167 Chapter 10 The partnership share..................... 1 THE NATURE AND SIZE OF A PARTNERSHIP SHARE A An interest in the net assets.................... 2 B Presumption of equality............ C Survivorship ..................... D A share may be assigned or charged. E The value of the share................................ F The partner’s lien.................................... MORTGAGEES, ASSIGNEES, PERSONAL REPRESENTATIVES, TRUSTEES, NOMINEES, LEGATEES AND ATTORNEYS OF A SHARE................................................... A Assignees and chargees generally 169 169 169 171 171 172 173 174 177 177 B Charging orders and the appointment of a receiver.................. 181 C Personal representatives of a partner.............................. 183 D The partnership share held upon trust or given by will............. 185 E Attorneys and Enduring and Lasting Powers of Attorney.............. 187 Chapter 11 The duty of good faith....................................... 189 1 THE GENERAL DUTY OF GOOD FAITH................................... 190 A A duty of good faith: honesty and other duties................. 190 B A fiduciary duty......................................... 191 C Limits on the duty of good faith ............................ 193 D Analogy with duties of company directors and employees......... 197 E Duration of duty........................................... 198 F Waiver and consent to breach of duty......................»..... 200 G Enforcement against third parties of the partner’s duty........ 200 2 THE DUTY TO GIVE INFORMATION AND KEEP ACCOUNTS....................201 A General................................................ 201 B The duty to give information.............................. 201 C The duty to keep full and accurate accounts.................. 203 D Access to books and other records.............................. 204 3 PROFITING FROM THE FIRM..........................................207 A Profiting from the firm generally............................ 207 B Renewing partnership leases............................. 209 C Reversions on partnership leases............................... 210 D Outside work and office-holding............................. 212 E Lise by the partner of other partnership property.......... 213 F Bribes and commissions.................................. ....216 4 COMPETING WITH THE FIRM..........................................218 A Consent of the other partners ............................... 219 B The same nature ... and competing’..............................219 C Profits of office............................................ 220 D What is profit?............................................... 220 5 DUTIES WHEN A PARTNER JOINS THE FIRM OR BUYS OR SELLS HIS SHARE...................................................221 A The duty...................................................... 221 B Duties of the purchaser and of the vendor................... 222 C Duty to the remaining partners as regards the transaction...... 224 D Where no sale materialises................................... 224 E Duty of continuing partners to estate of a dead partner........ 225 Chapter 12 Internal management................................... 1 MANAGEMENT AND DECISION-MAKING WITHIN THE FIRM A Decision-making generally................................ B Decisions that can only be taken by the partners unanimously C Decisions that may be taken by a majority............. D The right of a single partner to act in the management... E The management committee............................ F Gardening leave and exclusion from participation.. G Salaried partners and employees .................... 2 ACCOUNTS, PROFITS AND FINANCIAL MANAGEMENT................. A Taxation and account keeping............................. B Remuneration, profits and losses..................... C A partner’s right to indemnity from the firm..... 227 227 22 7 228 230 233 234 235 237 237 241 248 Chapter 13 Discrimination............................................ 253 1 DISCRIMINATION GENERALLY...................................... 253 2 EQUALITY ACT 2010............................................. 254 A Generally................................................... 254 B Protected characteristics................................... 255 C Prohibited conduct.......................................... 256 3 APPLICATION TO PARTNERSHIPS...................................261 A Prospective partners................................... 262 B Existing partners.................................... 262 C Limited partnerships....................................... 263 D Proposed firm............................................ 263 E Former partners..............................................263 F LLPs and proposed LLPs..................................... 263 G Employees of partnerships................................ 264 4 PROCEDURE..................................................... 264 A Jurisdiction of the employment tribunal.....................264 B Time limits............................................... 264 C Burden of proof...............................................264 D Remedies.................................................... 265 E Exclusion clauses and arbitration clauses................... 265 Chapter 14 Internal partnership dispute.............................. 267 1 ENFORCEMENT OF AGREEMENTS...................................... 267 A Enforcement of agreements to enter into partnership.........268 B Rescission for misrepresentation ........................... 270 2 REPUDIATION BY BREACH OF THE PARTNERSHIP AGREEMENT................................................... 274 A Repudiation applied to partnerships...........................274 B What amounts to repudiation.................................277 C The effect of repudiation.....................................278 D Damages and repudiation.....................................279 3 THE CLAIM FOR AN ACCOUNT......................................279 A The right to an account.......................................279 B The meaning of 4action for an account5...................... 280 C Taking the account.......................................... 284 D Defences to actions for an account..........................288 Pi How settled accounts may be challenged..................... 291 4 BREACH OF CONTRACT, NEGLIGENCE AND OTHER CLAIMS BETWEEN PARTNERS................................................294 A Breach oi contract..........................................294 B Breach of fiduciary duty.................................... 296 C Negligence and gross negligence.............................. 298 D Fraud and other torts.................................... 302 E Setting transactions aside................................... 302 5 CONTRIBUTION BETWEEN PARTNERS ................................ 303 A What claims are actionable between partners.................. 303 B How claims for compensation or contribution between partners may be enforced................................................ 303 Chapter 15 Remedies between partners................................. 309 1 JURISDICTION AND PROCEDURE................................... 310 A Jurisdiction............................................. 310 B Limits on claims for debt or damages where no account is sought.. 313 C Necessary parties to a partnership action........................... 315 D Disclosure and privilege........................................... 317 E Judgments and enforcement.......................................... 319 F Interest......................................................... 320 G Costs of a partnership action....................................... 321 H Compromise between partners........................................ 322 2 ARBITRATION AND MEDIATION............................................ 323 A Arbitration and mediation agreements................................ 323 B Mediation or ‘ADR5.................................................. 325 C Arbitration applications to the court............................... 326 D County court....................................................... 327 E Stay of parallel court proceedings.................................. 327 F Powers of the arbitrator............................................ 328 G Costs of arbitration................................................328 FI Arbitration appeals to the court................................... 329 3 INJUNCTIONS BETWEEN PARTNERS .................................... 330 A Specific performance and dissolution............................ 330 B Injunctions restraining misbehaviour by a partner or the firm....... 330 C Mutuality........................................................... 332 D Mandatory injunctions to enforce the personal obligations of a partner ....................................................... 332 E Injunctions where dissolution is an alternative remedy ............ 333 F Interim injunctions and undertakings............................... 333 4 A PARTNER’S APPLICATION FOR A RECEIVER....................... 335 A Receivers generally............................................ 335 B Partnership receivers appointed by agreement....................... 336 C Who may apply to the court for the appointment of a partnership receiver,..........................................................336 D Who may be appointed............................................ 337 E The grounds for appointment before dissolution .................... 337 F The grounds for appointment in a dissolution..................... 338 G Procedure on appointment......................................... 339 H Remuneration....................................................... 340 I Receiver and manager............................................ 341 J Status and powers of receiver or receiver and manager.............. 343 K Restrictions on creditors.......................................... 344 5 LIMITATION AND DELAY AS REGARDS CLAIMS BETWEEN PARTNERS........................................................ 344 A Limitation generally............................................ 344 B Limitation in claims between continuing partners: no time period.... 345 C Limitation in claims between the firm and an outgoing partner or his estate: ordinary time period........................................ 345 D Extension of ordinary time limits............................. 349 E Laches, waiver, acquiescence and abandonment...................... 352 Chapter 16 Dissolution, retirement and expulsion without court order ......... 35/ 1 DISSOLUTION GENERALLY............................................... 357 A The meaning of dissolution, Technical dissolution’ and winding up ... 358 B Dissolution on illegality, repudiation, frustration or rescission.. 360 C Dissolution under the partnership agreement..................... 360 D Dissolution by subsequent agreement or implication................. 363 E Setting aside dissolution agreements............................. 364 F Publicising dissolution..................................... 365 2 DISSOLUTION BY NOTICE.......................................... 366 A Express provision for dissolution on notice.................. 366 B Partnerships at will dissolved on notice..................... 366 C The nature and effect of a notice............................ 367 3 DISSOLUTION BY DEATH, BANKRUPTCY OR CHARGING.................... 369 A Death....................................................... 370 B Bankruptcy................................................... 370 C Dissolution when a partner’s share is charged................ 371 4 RETIREMENT AND EXPULSION....................................... 372 A Retirement and expulsion generally........................... 372 B Retirement................................................... 373 C The right to expel...........................................375 D Exercise of the right to expel............................... 376 Chapter 17 Dissolution by court order................................. 381 1 DISSOLUTION BY COURT ORDER GENERALLY......................... 381 A General...................................................... 382 B Procedure.................................................... 382 2 GROUNDS FOR DISSOLUTION: MENTAL AND OTHER INCAPACITY.....................................................385 A Dissolution by the court for incapacity generally............ 385 B Mental incapacity...»........................................ 386 C Other incapacity............................................ 388 D The court’s discretion in anv case of incapacity............. 389 3 DISSOLUTION FOR MISCONDUCT................................... 389 A Generally................................................... 389 B Dishonesty........................................ 391 C Adultery..................................................... 391 D Other misbehaviour............................................392 E Triviality and mere distrust................................. 393 4 INSOLVENCY AND LOSS-MAKING AS A GROUND FOR DISSOLUTION.....................................................393 A Procedure.................................................. 393 B The grounds for the application.............................. 394 5 DISSOLUTION WHEN JUST AND EQUITABLE.......................... 394 A The wide jurisdiction...................................... 395 B Where the applicant is at fault........................... 395 C Where there is a breakdown in relations...................... 396 Chapter 18 The effect of dissolution and retirement................... 399 1 MANAGEMENT AFTER DISSOLUTION OR RETIREMENT...................... 399 A Management.............................................. 400 B Profits and losses during winding up.........................404 C The effect of dissolution on outsiders........................414 2 THE RIGHTS OF THE PARTIES ON A RETIREMENT.......................421 A The effect of dissolution, retirement and pre-emption agreements and options.................................................... 422 B The valuation of the share of an outgoing partner......... 424 C Goodwill, work-in-progress and non-assignable assets........ 425 D The departing partner’s indemnity........................... 427 3 THE RIGHTS OF THE PARTNERS ON DISSOLUTION: WINDING UP.......................................................... 429 A cApplication’ of partnership property........................ 429 B A sale....................................................... 431 C Distribution of net assets.....................................436 D Discharge of liabilities and losses............,.............441 E Return of premiums...........................................443 4 COMPETITION WITH THE FIRM AFTER RETIREMENT OR DISSOLUTION.................................................... 444 A The right to compete.........................................444 B Covenants in restraint of trade generally.................... 448 C What is ‘reasonable’...................................... 451 Chapter 19 The firm and outsiders.................................... 457 1 THE AUTHORITY OF A PARTNER TO BIND THE FIRM...................458 A The express and implied authority of a partner.............. 458 B Matters within the business of the firm.................... 464 2 THE LIABILITY OF THE FIRM FOR A PARTNER’S WRONGS AND OMISSIONS.................................................478 A Wrongful acts and omissions generally.......................478 B Negligence................................................ 481 C Breach of contract.......................................... 482 3 4 D Crime............................................................ E Fraud,........................................................ F Misrepresentation....,......................................... G Constructive trusteeship or accountability in equity............ H Other torts and wrongs......................................... I Where the partners in the firm change......................... J Liability of a successor practice on a professional indemnity claim... BREACH OF TRUST AND MISAPPROPRIATION............................. A The principles................................................. B Where the partner in default is acting within his authority as a partner....................................................... C Where the partner in default is acting outside his authority as a partner....................................................... D What the firm may be liable for................................ E Breach of solicitors’ undertakings............................. F A trustee-partner’s right to fees.............................. CLIENTS’ CONFIDENTIAL INFORMATION AND CONFLICTS OF INTEREST...................................................... .. 483 .. 483 ... 485 .. 486 .. 487 .. 488 .. 488 .. 488 .. 489 .. 491 .. 493 .. 496 .. 497 .. 499 .. 499 Chapter 20 How partners bear the firm’s liabilities................................. 503 1 JOINT AND SEVERAL LIABILITY................................................. 503 A Joint and several liability explained.................................... 503 B Whether the liability is joint or several or both................... 505 C Releases and judgments................................................... 507 D A partner’s death........................................ 509 2 THE BEGINNING AND END OF A PARTNER’S LIABILITY.............................. 510 A The beginning of liability: the incoming partner ................................. 510 B The end of liability: the retired, expelled, bankrupt or dead partner... 514 3 THE FIRM’S NOTICE AND KNOWLEDGE AND THE CLIENT’S CONFIDENTIAL INFORMATION...,...............................................523 A The knowledge of a partner............................................... 523 B Exclusion of liability by notice to the outsider......................... 527 C Employees............................................................. 528 Chapter 21 Litigation by and against outsiders.............................. 529 1 ACTIONS BY THE FIRM..................................................530 A The firm’s cause of action.................................. 530 B What partner may authorise and prosecute proceedings?...... 534 C Set-off between debts and credits of the firm and the partner. 536 2 ACTIONS AGAINST THE FIRM.............................................. 538 A When and how a claim against the firm may be brought.......... 538 B The partners’ defence......................................... 541 3 PROCEDURE............................................................. 543 A The scope of rules of court enabling a firm to sue or be sued in the firm name.................................................. 543 B Service and acknowledgment of service............................. 546 C Disclosure of partners’ names............................... 550 D Disclosure and admissions................................... 551 E Admissions................................................... 552 4 JUDGMENT AND EXECUTION AGAINST THE FIRM.............................. 553 A Judgment against the firm................................... 553 B Summary judgment.............................................. 554 C Execution on a judgment against the firm generally............ 554 D Execution against the assets of the firm...................... 554 E Execution against a partner without permission................ 555 F Execution against partners and non-partners with permission....556 G The appointment of a receiver.............................. 557 H Charging orders......................................... 557 I Bankruptcy................................................... 558 J Statutory winding up....................................... 558 K Garnishee’ or third party debt’ proceedings................ 558 5 COSTS................................................................559 A Costs orders................................................. 559 B The firm as a litigant in person................................... 559 Chapter 22 Insolvency - winding up and similar procedures................... 561 1 BANKRUPTCY CONTRASTED WITH STATUTORY WINDING UP.. 562 A The Insolvency Act 1986 option of statutory winding up.........562 B Statutory winding up: drafting and terminology................ 563 2 BANKRUPTCY........................................................... 565 A Bankruptcy law preserved...................................... 566 B Applications outside the ambit of statutory winding up........ 566 C The effect of bankruptcy...................................... 568 3 CREDITORS’ APPLICATIONS UNDER THE INSOLVENCY ACT 1986................................................................. 570 A Creditors’ applications generally.................................. 570 B Creditors’ winding-up petitions where no concurrent bankruptcy or other insolvency petitions are presented against any members...... 575 C Concurrent petitions against firm and members...................... 576 D Creditors’ applications for an administration order................ 579 4 MEMBERS’ APPLICATIONS UNDER THE INSOLVENCY ACT 1986............................................................. 586 A Members’ winding up and administration applications........... 586 B Members’ applications for an administration order............. 587 C Members’ winding-up petitions where no bankruptcy or other insolvency petition is presented against any member...............588 D Members’ winding-up petition where concurrent bankruptcy or other insolvency petitions are presented against all the members. 589 E Article 11: members’ applications for joint bankruptcy without winding up the partnership....................................... 592 F Members’ applications for partnership voluntary arrangements with creditors - TV As’.......................................... 596 5 APPLICATIONS BY OTHERS UNDER THE INSOLVENCY ACT 1986................................................................ 598 A Applications by the liquidator or other responsible insolvency practitioner..................................................... 598 B Financial services partnerships................................... 599 C Applications by the Secretary of State.......................... 600 D The court of its own motion....................................... 601 6 EU REGULATION OF INSOLVENCY PROCEEDINGS............................. 601 Chapter 23 The insolvent firm’s debts................... 605 1 PRIORITY OF DEBTS GENERALLY........................ 606 2 POSTPONEMENT OF THE CLAIMS OF PARTNERS AND OTHERS CONNECTED WITH THE INSOLVENT FIRM........... 606 3 4 5 6 7 8 9 A Partners................................................ B The partner’s spouse............................... C Lenders, vendors and others with an interest in a profit share ..... D Which debts are postponed?.............................. SET-OFF................................................... A General................................................. B Joint debts of the firm and separate debts of partners.. SECURED CREDITORS......................................... A General.................................................. B The joint estate of the firm and the separate estate of the partner THE PARTNER’S LIEN......................................... A The priority of the partner’s lien........................... B Registration and protection of liens over land.................. COSTS AND EXPENSES IN INSOLVENCY PROCEEDINGS..................... A Partner’s bankruptcy or insolvency........................... B Dissolution and winding up of the firm without statutory winding up..................................................... C Statutory winding up of the partnership alone................... D Statutory winding up of the partnership and a member or members concurrently, with single trustee for both....................... RELATIVE PRIORITY OF CREDITORS OF THE FIRM AND CREDITORS OF PARTNERS...................... . 607 . 607 . 608 . 611 . 611 . 612 . 613 . 614 . 614 . 614 . 616 . 616 . 617 . 617 . 617 . 617 . 618 . 619 . 620 A General.................................................................. B Priorities where the insolvent Partnerships Order 1994 applies ........ C The rule as to priorities where the Insolvent Partnerships Order 1994 does not apply...................................... ADJUSTMENT OF LIABILITIES BETWEEN PARTNERS.. A All partners solvent...................................... B Statutory winding up: the liquidator’s powers............ C The partner’s rights against an insolvent partner’s estate.. D An insolvent partner’s estate seeking a contribution against a solvent partner...................................................... AN INSOLVENT MEMBER OF A SOLVENT FIRM ..................................... A A member’s insolvency............................................. . 621 . 621 . 628 . 628 . 629 . 650 . 632 . 632 . 632 B No dissolution..................................................... 633 C Dissolution........................................................ 633 10 THE ESTATE OF A DEAD PARTNER........................................634 A General............................................................ 634 B Death does not halt bankruptcy proceedings......................... 634 C Priorities in relation to an insolvent estate...................... 635 D The position of the personal representatives....................... 635 Chapter 24 Limited partnerships......................................... 637 1 LIMITED PARTNERSHIPS GENERALLY...................................638 A The nature of limited partnerships............................ 638 B Sham limited partnerships.....................................640 C ‘Business’ and ‘business in common’........................... 641 D The limited partner’s financial position...................... 641 E Venture capital or private equity funds....................... 642 F Foreign firms and foreign recognition......................... 642 G Discrimination................................................ 643 2 MANAGEMENT OF THE BUSINESS....................................... 643 A Powers of the general partner(s) and the limited partners....... 644 B Involvement by limited partners............................... 644 C Conflict between the limited partners, the general partner and the operator................................................... 649 3 INCOMING AND OUTGOING PARTNERS AND THEIR ASSIGNEES........................................................ 651 A Introduction of partners...................................... 651 B An assignment, charge, nomineeship or trusteeship of a limited partner’s share............................................. 651 C The number of partners and their nature....................... 652 4 THE LIMITED PARTNER’S CAPITAL.................................... 653 5 REGISTRATION AND ADVERTISEMENT.....................................654 A Default in registration....................................... 654 B The details to be registered initially........................ 657 C The changes to be registered subsequently..................... 657 D The register................................................... 659 E Advertisement of changes......................................659 F The firm name and the Companies Act........................... 660 6 REGULATION OF THE BUSINESS........................................ 660 A Financial services.......................................... 660 B Collective investment schemes,............................... 661 C Successor partnerships.................................... 664 D Alternative authorisation for legal professionals.............. 665 7 DISSOLUTION AND WINDING UP................................... 665 A Dissolution without court order............................... 665 B Dissolution by court order ................................. 667 C Winding up after dissolution.................................. 668 8 EXECUTION AND INSOLVENCY..................................... 668 A Judgment and execution against a limited partnership.......... 668 B Bankruptcy and petitions for statutory winding up..................669 C The priority of a limited partner’s claim against his insolvent firm. 671 Chapter 25 Limited liability partnerships................ 1 THE NATURE AND CREATION OF LIMITED LIABILITY PARTNERSHIPS......................................... 673 674 A The nature of limited liability partnerships ( LLPs5)............... 674 B Sham limited liability partnerships................................. 677 C Registration and incorporation................. ..................... 678 D Pre-incorporation contracts........................................ 680 E The name of the LLP................................................. 681 F The business and property of the LLP............................. 684 G Taxation.......................................................... 686 H Litigation..................................... .................... 686 2 THE LLP AGREEMENT AND THE DEFAULT PROVISIONS.......................... 688 A The LLP agreement generally.......................................... 688 B What should be dealt with in the LLP agreement?...................... 688 C Default of specific agreement....................................... 691 D Unfair prejudice to members.......................................... 694 E Discrimination....................................................... 697 3 MEMBERS.............................................................. 697 A Members generally.......................................... 697 B Designated members............................................. 700 C The member s share: income and capital.......................... 702 D The member s liability to contribute to the LLP assets............... 704 E The liability of the LLP and of the member ........................ 705 F Good faith and the obligations of the LLP and its members between themselves.................................................. 712 G Employment of members............................................... 714 H Commencement and cesser of membership................................ 716 4 AUDITORS, ACCOUNTS, CHARGES AND THE ANNUAL RETURN.................................................................720 A Companies Act obligations........................................... 720 B Audit................................................................ 720 C Accounts.............................................................721 D Charges.............................................................. 723 P npgp annual foPiini 79 3 5 INSOLVENCY, WINDING UP, MISFEASANCE AND DISQUALIFICATION....................................................... 723 A Insolvency, voluntary arrangements and administration................ 723 B Dissolution and winding up...........................................724 C Investigation and misfeasance........................................ 726 D Recoupment from members.............................................. 727 E Disqualification..................................................... 729 6 TRANSFER OF ASSETS FROM PARTNERSHIP TO LLP.......................... 732 A Transfers generally................................................... 732 B Existing leases, contracts, liabilities and substitution of defendants .... 733 C Executorships..................................................... 733 D Trusteeships and other appointments............................... 734 E CFA agreements........................................................ 734 F Clients................................................................................................. 734 G Taxation.......................................... 735 Appendix A: Partnership Act 1890 ................ 737 Appendix B: Limited Partnerships Act 1907...................................... 749 Appendix C: Limited Partnerships (Forms) Rules 2009......................... 755 Appendix D: Company, Limited Liability Partnership and Business Names (Sensitive Words and Expressions) Regulations 2014......................... 761 Appendix E: Partnership (Accounts) Regulations 2008............................ 769 Appendix F: Insolvent Partnerships Order 1994.................................. 781 Appendix G: Limited Liability Partnerships Act 2000............................ 965 Appendix H: Limited Liability Partnerships Regulations 2001 ................. 981 Appendix I: Law of Partnership Act 1865 (repealed)........................... 1039 Appendix J: British Venture Capital Association statement 26 May 1987......... 1041 Index 1049
any_adam_object	1
author	Blackett-Ord, Mark Haren, Sarah
author_GND	(DE-588)1027690904 (DE-588)1027689752
author_facet	Blackett-Ord, Mark Haren, Sarah
author_role	aut aut
author_sort	Blackett-Ord, Mark
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id	DE-604.BV042377889
illustrated	Not Illustrated
indexdate	2024-07-10T01:19:56Z
institution	BVB
isbn	9781780438207 1780438206
language	English
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spelling	Blackett-Ord, Mark Verfasser (DE-588)1027690904 aut Partnership law the modern law of firms, limited partnerships and LLPs Mark Blackett-Ord FSA, MA (Oxon) and Sarah Haren MA (Oxon), BCL (Oxon) Fifth edition Haywards Heath Bloomsbury Professional [2015] CXII, 1108 Seiten txt rdacontent n rdamedia nc rdacarrier Haren, Sarah Verfasser (DE-588)1027689752 aut Digitalisierung UB Passau - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=027814025&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis
spellingShingle	Blackett-Ord, Mark Haren, Sarah Partnership law the modern law of firms, limited partnerships and LLPs
title	Partnership law the modern law of firms, limited partnerships and LLPs
title_auth	Partnership law the modern law of firms, limited partnerships and LLPs
title_exact_search	Partnership law the modern law of firms, limited partnerships and LLPs
title_full	Partnership law the modern law of firms, limited partnerships and LLPs Mark Blackett-Ord FSA, MA (Oxon) and Sarah Haren MA (Oxon), BCL (Oxon)
title_fullStr	Partnership law the modern law of firms, limited partnerships and LLPs Mark Blackett-Ord FSA, MA (Oxon) and Sarah Haren MA (Oxon), BCL (Oxon)
title_full_unstemmed	Partnership law the modern law of firms, limited partnerships and LLPs Mark Blackett-Ord FSA, MA (Oxon) and Sarah Haren MA (Oxon), BCL (Oxon)
title_short	Partnership law
title_sort	partnership law the modern law of firms limited partnerships and llps
title_sub	the modern law of firms, limited partnerships and LLPs
url	http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=027814025&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA
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