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Partnership

Limited liability partnership - Members - Membership of partnership purportedly terminated Flanagan v Liontrust Investment Partners LLP and others [2015] EWHC 2171 (Ch); [2015] WLR (D) 338

10 August 2015

Ch D: Henderson J

• 24 July 2015

The doctrine of repudiatory breach was excluded from multi-party agreements falling within the scope of section 5 of Limited Liability Partnerships Act 2000.

Henderson J so held in the Chancery Division on an unfair prejudice petition presented by Eoghan Flanagan pursuant to section 994 of the Companies Act 2006 in relation to the affairs of Liontrust Investment Partners LLP ("Liontrust"). The petitioner claimed to still be a member of Liontrust although his membership had purportedly been terminated by notices of compulsory retirement. The other respondents to the petition were Liontrust Asset Management plc and its wholly owned subsidiary Liontrust Investment Services Ltd.

Section 5 of the 2000 Act provides: "(1) Except as far as otherwise provided by...

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