Partnership Counsel was formed in 1991 and, since then, has remained the only Chambers specialising exclusively in all aspects of partnership and LLP law. Every year, it has appeared in the top tier of all recognised legal directories. Comprising only two members, Roderick I’Anson Banks and Simon Jelf, we are nevertheless able to deal with all advice and representation required by our clients in our chosen area of practice.
Our main focus tends to be on disputes, involving both large and small firms, whether acting for an individual partner, the firm itself, its management or a majority of the partners. Although most of our clients are drawn from the professions, both in the UK and internationally, we also have extensive experience acting in disputes relating to hedge fund managers, private equity and family farming enterprises, as well as other smaller trading concerns. Although we undertake both court and arbitration work, our priority has always been to settle cases on favourable terms, with half an eye on costs, partner time and the dangers of adverse publicity. To that end, we regularly advise on the use of mediation and do all we can to assist clients to reach a negotiated settlement through that process. Our unrivalled knowledge and experience of all forms of partnership and LLP disputes, from the likely effect of partners’ personality traits to the choice of tactics to be adopted in any given scenario, enable us to anticipate an opponent’s manoeuvres and keep our clients ahead of the game. We recognise the key importance of teamwork and are used to working closely with our clients and their other advisers.
Typical cases in which we act involve:
- lateral hires, whether on the instructions of the partner in question or his/her new firm (in order to facilitate an early departure free of restrictive covenants) or on the instructions of the firm itself (in order to delay or inhibit such activity);
- expulsions for cause or “no fault” compulsory retirements on the grounds of underperformance or a failure to fit in, where laying the groundwork is critical to avoid a later challenge, whether in the case of a single partner removal or a more extensive partner cull;
- issues relating to the imposition of or alternatives to garden leave;
- threatened dissolutions;
- winding-up disputes, including Syers v. Syers orders and the forced sale of assets.
- In all of these examples, understanding the workings of a partnership/LLP and assessing the likely impact of particular actions and the personalities involved is vital.
We are also used to advising on and drafting partnership and LLP agreements, whether involving a review and/or updating of an existing or proposed agreement or drafting an entirely new agreement from scratch. No two agreements are the same and we are ready to undertake complex bespoke drafting as and when required. Apart from the main constitutional documents themselves, we frequently draft retirement agreements and letters (informality often being the watchword in such cases), dissolution agreements, settlement agreements (especially before and at a mediation), salaried and fixed share partner agreements and the like.
We have long specialised in advising on “old style” limited partnership issues under the Limited Partnerships Act 1907 and we are now ready to take on advice regarding the newly introduced private fund limited partnerships, following their introduction in 2017. Roderick I’Anson Banks was involved in the drafting of the Limited Liability Partnerships (Jersey) Laws 1997 and 2017 and is able to advise on such partnerships when required.
We are also used to advising on corporate and other structures where the particular focus is on avoiding the inadvertent creation of a partnership and in those cases where it is necessary to negate an argument that a partnership exists.
9 King’s Bench Walk
London EC4Y 7DXTyroon Win (practice manager)
020 7430 2005 / email@example.comRoderick I’Anson Banks