DR Solicitors Blog

Can you rely on your ‘green socks’ clause?

[fa icon="calendar'] Dec 5, 2017 10:03:00 AM / by Daphne Robertson posted in Disputes

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Making the decision to expel a partner is never an easy one and the reasons for doing so will vary widely. 

Some situations will be straightforward. A partner may, for example, be found to be in clear breach of the partnership deed if there is an issue of gross misconduct. Unfortunately, less clear-cut circumstances are more common, such as a personality clash that is causing disfunction within the partnership and preventing it from operating effectively.

In these instances, a ‘green socks’ clause could be the answer. But can they be relied upon in practice?

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Partnership disputes - the early warning signs

[fa icon="calendar'] Mar 3, 2017 10:13:24 AM / by Daphne Robertson posted in Disputes

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Partnership disputes can be expensive, time consuming and destructive; not to mention unpleasant for all parties involved.

If you find yourself having to deal with a partnership dispute, the best protection for any practice is to have a valid partnership deed in place. (For more guidance on this and to check that your deed is as robust as it can be, see: Does your Partnership Agreement need an upgrade?)

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