Proceedings and Procedures - Petition for Winding up, Provisional Liquidator, Winding up Order, and Statement of Affairs,Limited Liability Partnership (Winding up and Dissolution) Rules, 2010
Proceedings and Procedures - Petition for Winding up, Provisional Liquidator, Winding up Order, and Statement of Affairs,Limited Liability Partnership (Winding up and Dissolution) Rules, 2010
LLP Liquidator appointment and removal require partner consent, creditor approval, and Tribunal authority to appoint or remove. Rule 10 requires that an LLP appoint a voluntary LLP Liquidator by partner resolution where there are no creditors, and where creditors exist the ... Summary
LLP Liquidator appointment and removal require partner consent, creditor approval, and Tribunal authority to appoint or remove.
Rule 10 requires that an LLP appoint a voluntary LLP Liquidator by partner resolution where there are no creditors, and where creditors exist the partners' appointment is subject to creditor approval or creditor appointment. If creditors and partners nominate different Liquidators, the creditors' nominee prevails; if creditors neither approve nor nominate, the partners' nominee continues. The Tribunal may appoint or remove a Liquidator and must give the Liquidator an opportunity to be heard. The Liquidator must file Form No. 6 disclosing conflicts and removals by appointing parties require written notice and a meeting decision.
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