Cora Hardy comments on partnership dissolution in Farmers Weekly
A precedent-setting Court of Appeal judgment has confirmed an earlier High Court decision, allowing that one partner can buy out the other under specific partnership dissolution circumstances.
Typically, the assets of a dissolved partnership are sold on the open market with each party allowed to bid. The Cobden v Cobden case – surrounding the dissolution of two brothers' 50:50 partnership in a dairy farm – has resulted in a new precedent by upholding a buyout granted by the High Court in 2024.
Cora Hardy, Associate in the Private Wealth Disputes team, shares her thoughts with Farmer's Weekly following the Court of Appeal judgment:
Sales for value have long been seen as problematic, not least because they are based on valuations whose accuracy may be difficult to test.
"Markets tend to regularise prices themselves – and a price obtained at auction ‘tests’ what buyers are willing to pay.
Read the full article in Farmer's Weekly here.
