Bentley Jennison partner takes million pound goodwill dispute to court
Former RSM Bentley Jennison partner Paul Castledine are set to meet in the High Court over a goodwill
A FORMER partner at RSM Bentley Jennison is to sue his old firm in court next week in a dispute over the ownership of goodwill which could reach a value of more than £1m.
Paul Castledine was a partner at RSM Bentley Jennison and retired from the firm in April 2003. He claims he did not dispose of his goodwill at the time of departure.
RSM Bentley Jennison merged with Tenon last year to form RSM Tenon in December 2009.
The upcoming case is to determine who currently owns the goodwill and not how much it is worth.
However, Accountancy Age understands the value on the goodwill is estimated to be £60m in total, making his one thirty-fourth share worth close to £1.7m.
A statement from Castledine said: “The binding terms of paragraph 26.3 of the partnership deed is that a retiring partner’s share of the goodwill does not vest in the continuing partners.
“There were no variations to these terms when I retired.”
RSM Tenon, on behalf of Bently Jennison, was unable to comment at the time of publication.
The trial is due to be held at Birmingham High Court next week and last seven days.