A significant part of our practice relates to advising partners and LLP members on their resignation or involuntary exit from their firm. We negotiate partner exits, including with regard to financial entitlements on exit, garden leave and restrictive covenant issues, and control of communications relating to the partner’s exit, amongst other issues.
We have extensive experience in the legal tactical and commercial aspects of such exits, and we help clients to see a way through what can often be a highly stressful situation.
- Advised a Member of an investment management LLP in respect of a partnership dispute and on his subsequent exit negotiations.
- Advised a partner in the Paris office of a global firm (with an English law LLP Agreement) on his proposed expulsion from the firm and thereafter on his exit from the firm on agreed terms.
- Advised a US attorney partner working in London for a leading US law firm, who was being threatened with expulsion for behavioural and performance issues.
- Advised a founding private funds LLP partner in relation to his threatened expulsion and subsequent exit on agreed term.
- Advised a US attorney working in London for a global firm, on his exit from that firm to join a competitor and on the attempted enforcement of lengthy notice and restrictive covenant provisions which infringed his ethical obligations.
- Advised 3 Germany-based equity partners of a UK LLP in the context of a global firm merger and the proposed exit of the LLP members following the proposed dissolution of the LLP.