Tales of the unexpected: The importance of shareholder agreements

The saying 'the cobbler always wears the worst shoes'' is an old phrase that most of us will have heard; it refers to those people who are so focused on serving others that they do nothing to support their needs. This expression in my experience also all too often applies to client-focused financial advisers who in many instances do not get around to putting a shareholders' agreement into place. Instead, they rely on memorandum and articles of association. (A similar structure will apply within a limited liability partnership (LLP), and a traditional partnership agreement should also cov...