Having drafted the articles of association, shareholders’ agreement and ancillary documents forming the constitution of a regional professional services firm, we continue to advise on various corporate matters given our familiarity and long-standing relationship with this firm.
We recently advised the company on their position with a director/ shareholder who was thought to be underperforming. This included advising on the rights of the company under the shareholders’ agreement and articles and the director’s contract of employment. We also supported the client through the dispute by drafting the documents necessary to give effect to the agreement eventually reached with the director in question, including regarding transfer of shares and distribution of the benefit of the directors’ goodwill loan account to the continuing shareholders.
This was a strategically important and challenging matter that we were able to support the client through in order to protect the interests of the business while providing minimal disruption.