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. This case is relevant to Article 9 of DIFC Law No. 5/2004.

The judgment is available at: [2017] EWCA Civ 985

The petitioner, a fund manager of the first respondent LLP since 2011 after a move from a rival company Occam, had originally applied for relief under s 994 of the Companies Act 2006. The application was made following a letter being given to him in 2012 by the first and second respondents (other companies in the group) to dispense with his services and put him on garden leave by purportedly giving him notice of compulsory retirement under cl 18 of his membership agreement (the LLP agreement).