Valuing an exiting partner’s share of a partnership—which assets should be included?

Table of contents

• Original news
• What key issues did this case raise?
• What was significant about this partnership deed?
• Does this judgment clarify the law in this area?
• How will the decision in this case affect the drafting of partnership agreements?
• What should lawyers advise their clients in light of this case?

Article summary

Corporate analysis: Does reference to a ‘share’ of a partnership always mean a share in the whole of the partnership property? Catherine Gannon, managing partner at Gannons Solicitors, says the decision in Ham v Ham and another should prompt lawyers drafting partnership deeds to address the fundamental distinction between a firm’s profits and a firm’s assets.