Flanagan v Liontrust Investment Partners LLP and others

Contract – Repudiation. The Companies Court ruled on consequential issues which arose following the main judgment on the claimant's petition alleging unfair prejudice in relation to the affairs of a limited liability company (LLP). Among other things, it considered whether its preliminary view had been wrong in respect of the validity of a third termination letter, giving the claimant notice requiring him to retire as a member of the management committee of the LLP. The court further ruled that the LLP should pay 50% of the claimant's costs, and that he should pay 60% of the LLP's costs in circumstances where the claim to be entitled to a share in the LLP had failed only at the last hurdle, but where the claimant had succeeded on all of the prior steps in the argument.