A recent Court of Appeal decision held that a partner was jointly and severally liable to a third party for the breach of fiduciary duty of a former partner, even though the former partner’s breach of duty occurred after he resigned from the partnership.
The case provides a stark warning to owners of businesses that previously traded as a partnership and in particular where former partners continue to provide consultancy services to the partnership following their departure.
If you wish to protect your business with appropriate contractual and other protection, please contact our commercial team on on 01737 854 500 or find out more here.