| Commentary

122 Termination of the business

| Commentary

(i) Termination of the business and winding up of the company

122 Termination of the business

Where one participant finds itself at odds with the others, this may well lead to the departure of that participant but is unlikely to result in the termination of the business as a whole1. However, it is a sad fact of life that in some businesses the relationship of the parties breaks down to such an extent that no further decisions are possible. In such a case, there may be no alternative but to bring the business to an end. One school of thought is

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