Legal Alliance Senior Partner Ilya Kostin Attended Convention of Law Firms Partners
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A convention of partners of law firms aimed to discuss topical aspects of partnership agreements took place on 3rd July 2008 at LEO Club restaurant.
The event ran under the auspices of the Partners’ Forum under the Ukrainian Lawyers’ Association.
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The attendees included Ilya Kostin, senior partner for Legal Alliance law firm; Oleg Makarov, managing partner for Vasyl Kysil & Partners attorneys; Denis Bugai, partner for Vashchenko, Bugai & Partners law firm; Oleg Davidenko, managing partner for Aries law firm; Aleksandr Onishchenko, managing partner of Pravochyn attorneys; Sergei Tiurin and Svetlana Trofimchuk, partners for Sergei Tiurin & Partners law firm; Valentin Zagaria, managing partner for Spenser & Kauffmann law firm; Elena Sotnik, junior partner for Solodko & Partners joint-stock company;and Artyom Atepalikhin, partner for Rafalsky & Partners law form.
In the course of the discussion the participants agreed that a preparatory process for a partnership agreement should begin with settling issues that have a strong potential of becoming a sticking point between partners.
Such issues primarily include procedure of withdrawal from a partnership and its winding-up; the sharing of clients between partners; fee accrual policy and manner of profit distribution.
Particular attention was drawn to the fact that a partnership agreement today is in fact just a little more than a gentlemen’s understanding.
On the other hand it is quite realistic to turn it into a constituent document using such business constitution form as association of attorneys. However, not all attributes of a partnership agreement may be included in an instrument on formation of such an association since a typical partnership agreement has broader subject of regulation – it is not limited to legal aspects of relationships between partners but also covers moral and ethical norms.
The next meeting of partners for law firms is to take place outside Kiev: it is scheduled for 28 August at Yalta’s Tiflis restaurant.
