25 Jun 2010
NIXON AND ORS V WALKER AND ORS CA CA804/2008
- Citation
- openlaw-14c87aa8_3494_4e68_be0f_8dd6ca5e22b8.pdf
- Court
- Court of Appeal
The Court held entitlement to incoming partner goodwill instalments vests with those who agreed to admit the new partner (partners at time of admission/agreement), not necessarily those who remain partners at the date of each subsequent payment; such entitlement is subject to the clause 11(f) refund/abatement regime if a vendor retires within the two‑year protection period. Despite reversing the arbitrator on that point, the Court dismissed the appeal because the arbitrator's award, when corrected for a calculation mistake by the respondents, already effected the correct set-off and net judgm…