We were instructed on behalf of a GP who was one of two partners left in a London practice. At the time, three retired partners were threatening proceedings for payment of their share of the premises which were held in a separate deed. To make matters more difficult, the client was in dispute with the remaining partner and couldn’t raise the requested funding.
What did we do?
At the time of instruction, the two remaining partners were not speaking. our lawyers avoided the threat of more formal proceedings and resolved
the dispute by way of commercial mediation. This led to a dissolution of the partnership and a sale of the premises.
The sale of the property resulted in a return to the client in excess of £600,000. When instructed, she was worried about her financial position and the threat of proceedings, but an agreement was secured which allowed her to retire without liabilities and with a significant capital payment.