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There has been a further case in the last few months which has looked at the rights of partners of limited partnerships. Whilst this case does not create ground breaking law, it does help us to clarify and understand certain matters relating to the rights of limited partners. In the case of Certain Limited Partners in Henderson PFI Secondary Fund II LLP (firm) v Henderson PFI Secondary Fund II LP (a firm) and others, the High Court held that limited partners in a limited partnership had the right to pursue a derivative action against the third party investment manager who had been delegated the task of investment management by the general partner of the limited partnership. Read more
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The Court of Appeal has recently delivered its decision on the appeal brought by Mr Tiffin in relation to his claim against law firm, Lester Aldridge. Partnership law practitioners have been eagerly awaiting the decision as it was hoped it would clarify the circumstances in which a fixed share partner is a real partner or an employee of a firm. Read more
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