Flanagan v Liontrust Investment Partners LLP & Ors

Flanagan v Liontrust Investment Partners LLP & Ors

Mr Flanagan was no longer a Management Committee member as of December 2014 due to the 1 August 2013 notice, making the third termination letter valid and terminating his LLP membership on 22 June 2015. On costs, Mr Flanagan is the successful party but only partially, warranting a 50% recovery of his costs and a 60% payment of Liontrust's costs, reflecting the issue-based outcome and conduct of both parties.

Parties
Petitioner: Eoghan Flanagan; Respondents: Liontrust Investment Partners LLP and Others
Jurisdiction
England and Wales
Judgment Date
04 March 2016
Procedural Posture
Petition (companies/llp) / Post Liability Consequential Matters; Costs and Relief Determination
Outcome
Third termination letter valid; Mr Flanagan ceased to be LLP member on 22 June 2015. Partial costs orders in both directions.
Legal Topics
LLP Membership Termination, Costs Orders, Repudiatory Breach, Unfair Prejudice, Management Committee Appointments
Company Law Contract Law Civil Procedure LLP Membership Termination Costs Orders Repudiatory Breach Unfair Prejudice Management Committee Appointments

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Parties

Eoghan Flanagan

Petitioner

Liontrust Investment Partners LLP and Others

Respondents

Procedural Posture

Petition (companies/llp) / Post Liability Consequential Matters; Costs and Relief Determination

Legal Issues

  1. 1 Validity of third termination letter
  2. 2 Entitlement to costs and allocation
  3. 3 Form of relief to be granted

Ratio Decidendi

Mr Flanagan was no longer a Management Committee member as of December 2014 due to the 1 August 2013 notice, making the third termination letter valid and terminating his LLP membership on 22 June 2015. On costs, Mr Flanagan is the successful party but only partially, warranting a 50% recovery of his costs and a 60% payment of Liontrust's costs, reflecting the issue-based outcome and conduct of both parties.

Court Disposition

Third termination letter valid; Mr Flanagan ceased to be LLP member on 22 June 2015. Partial costs orders in both directions.

Orders

  • Liontrust to pay 50% of Mr Flanagan's costs, assessed on the standard basis.
  • Mr Flanagan to pay 60% of Liontrust's costs, assessed on the standard basis.