Partnership Share Purchase

Below is a selection of our most recent updates on this subject.

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Problems With Valuation Of Partnership Share On Death Of Partner

In Drake v Harvey (2011) EWCA Civ 838 the Court of Appeal considered the basis of valuation of a partnership share, deciding that in this case the book values should be applied rather than the fair value basis of valuation.
Monday, August 08, 2011

Proceeds Of The Policy On The Life Of A Former Partner In Trust For Co-Partners Awarded To The Deceased'S Estate

In Strover and Another v. Strover and Another 2005 EWHC 860 (Ch) the Court held that, notwithstanding the trust provisions under which a life policy was held, on the death of a retired partner of a partnership the deceased partner's estate was entitled to the proceeds, subject to a discount of 20%. The decision was based on the legal principle of proprietary estoppel in favour of the deceased. The decision is of considerable importance to all those involved in advising on business assurance arrangements, whether for partners or shareholders in private businesses.
Tuesday, July 12, 2005

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