Pickard & Anor (t/a Jacksons) v Orpwood [2002] EWCA Civ 1392 (5 September 2002)

Pickard & Anor (t/a Jacksons) v Orpwood [2002] EWCA Civ 1392 (5 September 2002)

Permission to appeal is granted on the issue of whether losses from the Worthing office should be included in the calculation of net profits for the purpose of valuing the applicant's share of goodwill, as this may have significantly affected the outcome and costs order. The judge was entitled to construe the partnership deed so that the applicant's share of goodwill reflected his actual period as partner. Other grounds for appeal, including disclosure of financial information and redrawing accounts for alleged mismanagement, do not have sufficient prospects of success.

Citation
[2002] EWCA Civ 1392
Parties
Claimants/respondents: Gary Pickard & Another (trading as Jacksons); Defendant/applicant: Phillip Orpwood
Jurisdiction
England and Wales
Judgment Date
05 September 2002
Procedural Posture
Civil Appeal / Permission to Appeal From County Court Judgment
Outcome
Permission to appeal granted in part
Legal Topics
Partnership Dissolution, Goodwill Valuation, Capital Account Settlement, Appeal Procedure
Partnership Law Civil Procedure Partnership Dissolution Goodwill Valuation Capital Account Settlement Appeal Procedure

Case Brief

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Parties

Gary Pickard & Another (trading as Jacksons)

Claimants/respondents

Phillip Orpwood

Defendant/applicant

Procedural Posture

Civil Appeal / Permission to Appeal From County Court Judgment

Legal Issues

  1. 1 Whether the correct method was used to value the outgoing partner's share of goodwill under the partnership deed
  2. 2 Whether losses from a separate partnership (Worthing office) should be included in the calculation of net profits for goodwill valuation
  3. 3 Whether the applicant is entitled to disclosure of supporting financial information

Ratio Decidendi

Permission to appeal is granted on the issue of whether losses from the Worthing office should be included in the calculation of net profits for the purpose of valuing the applicant's share of goodwill, as this may have significantly affected the outcome and costs order. The judge was entitled to construe the partnership deed so that the applicant's share of goodwill reflected his actual period as partner. Other grounds for appeal, including disclosure of financial information and redrawing accounts for alleged mismanagement, do not have sufficient prospects of success.

Court Disposition

Permission to appeal granted in part

Orders

  • Permission to appeal granted on paragraphs 7 and 10 of the judge's order
  • Stay of execution pending appeal