Nine former Halliwells partners have won a High Court battle to prevent the failed firm’s liquidators from claiming alleged overpaid drawings or tax from them.
His Honour Judge Hodge QC, sitting as a judge of the High Court, ruled that the liquidators could not pursue claims for overdrawings of £125,000 each, since Steven Fennell, a fixed share partner, and eight others, negotiated a retirement deed before Halliwells’ collapse that exempted them from facing claims relating to overdrawn current accounts and tax reserve accounts.
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