Limited & Corporate Partnerships
Disputes within limited partnerships used to be a rarity but have become more commonplace since the financial downturn. Issues can include breach of duty by limited partners, including failure to contribute additional capital, and disputes arising out of the removal/replacement of general partners. We are used to advising on issues concerning limited partnerships formed in the Channel Islands.
This includes drafting and vetting agreements under the Limited Partnerships Act 1907, often for investment vehicles where the objective is to achieve limited liability for investors while maximising tax effectiveness. Our advice is based on in-depth knowledge of the legislation (as now amended to accommodate the creation of private fund limited partnerships), combined with extensive experience of how these vehicles operate in practice.
We can also advise on arrangements designed to avoid partnership status.