Liontrust Investment Partners LLP and another v Flanagan

Contract – Repudiation. The third termination notice served on the petitioner was valid and effective to remove him by compulsory retirement and, therefore, the respondent companies had to pay the petitioner the amounts of the fixed and variable allocations due to him under cl 6 of the LLP Agreement as was required when an individual member was compulsorily retired under cl 18. In so deciding the Court of Appeal, Civil Division upheld a decision of the Companies Court.

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