DCC 130/2008

This case involved a claim for a profit share by a sleeping partner in a implied jointly owned company. The key issue was whether the commercial time bar or company law time bar for litigation would apply.

Background

The Claimant, a non-operating partner in an implied jointly owned company, brought forward a suit against its managing partners seeking compensation for profits withheld for more than five years.

The Claimant alleged that as a non-operating partner in an implied jointly owned company, he was entitled to be paid the profits arising during that period, and was not.

The Respondent's alleged that the company's profits were distributed by way of actual work and actual capital invested by each party, and by alleging the Claimant was not paid the profits, although the ydid not itself invest in the work that led to those profits, was invalid.