Umer Sufwan Pervaz & Anor v Mehboob Ahmed Pervaz & Ors

Umer Sufwan Pervaz & Anor v Mehboob Ahmed Pervaz & Ors

The partnership was dissolved on 7 July 2016. Turley Cote Farm and Brookwoods were partnership assets. Mumtaz was a nominee partner and ceased to be a partner in 2014 by express or implied agreement. Ahmed ceased to be a partner in 2010. Partnership accounts were not settled and are to be reopened for serious error. Khalid misappropriated or failed to account for substantial partnership assets and income, including bad debts, contract kill income, personal expenditures, and proceeds from asset sales. Specific sums are to be debited from relevant capital accounts. Buy-out of Claimants' interests is appropriate subject to proof of funding. Goodwill valuation to be determined by expert...

Parties
Claimant: Umer Sufwan Pervaz; Claimant: Mumtaz Akhtar Pervaz; Defendant: Mehboob Ahmed Pervaz; Defendant: Mohammed Kasim Pervaz; Defendant: Mohammed Hashim Pervaz; Defendant: The Estate of the Late Shahzada Khalid Pervaz
Jurisdiction
England and Wales
Judgment Date
01 May 2026
Procedural Posture
Partnership Dissolution and Accounting Dispute / Post Trial Judgment
Outcome
Partnership dissolved; accounts to be rectified; buy-out of Claimants' interests ordered subject to proof of funding; further hearing to determine precise orders and goodwill valuation.
Legal Topics
Dissolution of Partnership, Partnership Assets and Liabilities, Settled Accounts, Nominee Partners, Disclosure Obligations, Bad Debts, Misappropriation of Partnership Funds, Buy Out Orders, Goodwill Valuation
Partnership Law Equity Civil Procedure Dissolution of Partnership Partnership Assets and Liabilities Settled Accounts Nominee Partners Disclosure Obligations +4 more

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Parties

Umer Sufwan Pervaz

Claimant

Mumtaz Akhtar Pervaz

Claimant

Mehboob Ahmed Pervaz

Defendant

Mohammed Kasim Pervaz

Defendant

Mohammed Hashim Pervaz

Defendant

The Estate of the Late Shahzada Khalid Pervaz

Defendant

Procedural Posture

Partnership Dissolution and Accounting Dispute / Post Trial Judgment

Legal Issues

  1. 1 Whether Turley Cote Farm was a partnership asset
  2. 2 Who were the partners at dissolution
  3. 3 Whether partnership accounts were settled and binding

Ratio Decidendi

The partnership was dissolved on 7 July 2016. Turley Cote Farm and Brookwoods were partnership assets. Mumtaz was a nominee partner and ceased to be a partner in 2014 by express or implied agreement. Ahmed ceased to be a partner in 2010. Partnership accounts were not settled and are to be reopened for serious error. Khalid misappropriated or failed to account for substantial partnership assets and income, including bad debts, contract kill income, personal expenditures, and proceeds from asset sales. Specific sums are to be debited from relevant capital accounts. Buy-out of Claimants' interests is appropriate subject to proof of funding. Goodwill valuation to be determined by expert...

Court Disposition

Partnership dissolved; accounts to be rectified; buy-out of Claimants' interests ordered subject to proof of funding; further hearing to determine precise orders and goodwill valuation.

Orders

  • Declaration of dissolution of partnership as of 7 July 2016
  • Order for rectification of partnership accounts as set out in judgment