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' interes…
Source excerpt
- Dissolution of partnership
- Partnership assets and liabilities
- Settled accounts
- Nominee partners
- Disclosure obligations
- Bad debts