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Is there any partnership agreement in place please?
Has the business been valued please?
approx 300,000 euros
Does he accept this valuation??
2partners just want to go our separate ways and let the clients go with their own choice and we do not intend any money to change hands in the processif possible
How many partners want to stay and how many want to go please?
all 3 partners want to stay in practic and as isaid in my query the disagreement is over work practics and taking on a new assistant though our bank ac suggests we should not
In that case the partners who want to leave can just give a notice to dissolve it.
Then what has to happen in the absence of any agreement is that the assets are dissolved.
You can not stay as a partnership if two want to leave and as you say "go their separate ways."
The clients would still be free to follow them but assets dissolved and the partnership would come to an end.
Does this help? If not what else would you like to know?
all 3 partners want to stay in practice so if dissolved can practice continue under a new name and existing premises or new rented premises present practice building is also rented ,no real assetts in practice except usual leased cars,computers and practice ecquipment ,whichwould not be very valuable and is shared equally
Yes. You could stay in the premises if that is rented and agreed and have a new name.
Then each of you could do what you wanted and clients could decide who they would go with.
Does that help you?
the most significant item is that the partner remaining working with me inthe new business will take 98percent of the clients,and we are wondering if natural justice would suggest that other partner would have acase against us even though he is the one being unrealistic about hiring extra vets and rerfusing tochange his work practices to help the business
Well the only option there is to formally dissolve it and split the clients.
If he refuses then you could seek a Court order specifying that. The clients are an asset and should be split equally.
Is that ok?
i might not be explaining myself very well but the reality is thaat 98 percent clients will go with pat and myself,and they will obviously be doing this of their own volition
I see. Well its a matter for your other partner to take it further if he wishes.
You can dissolve the partnership, stay there and let the clients go where they wish
we think we are being very
yes but that is the nub of our query,under the 1890 partnership act have you a right to your clients in this new scenario even if they do not want you,also pat and myself are financially strapped and not in aposition to pursue this in court something that our partner is very aware and hence our questions about whether he has a case or not under the 1890act
Do you have a right - no
This is because all assets must be divided upon dissolution.
If you or the other partners do not want to go ahead together then the law says that the assets should be split
But there is no provision in the Partnership Act that states you are entitled to customers
Does this clarify?
are the clients also the assets and if so how can they be split if they want to sty with pat and myself
Clients are goodwill of the business. The clients can choose who they want to go with but there is no law that says the clients stay with you.
therefore can i assume from this last statement that we can dissolve the partnership ,start up under a new name with just 2 partners .divide up any material assets in practice equally,and in this circumstance have no case to answer from the other partner even if he is now left with no clients
But of course he may challenge that he should be entitled to a share of the clients.
But that is a matter for him and he may not
i presume this is also true under irish law
Can I help further?
youve been excellent,but irishmen are full of doubts ,so categorically you are saying we should have no case to answer.Also as ab
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as abackground both pat and i have tried ad nauseam to sort out the differences in work practices to no avail and we are willing to go our separate ways but not with a court scenario,and i deduce from your comments that we should be free of such an eventuality