Proceedings and Procedures - Meetings of creditors or partners in a winding up by Tribunal and of creditors in a voluntary winding upLimited Liability Partnership (Winding up and Dissolution) Rules, 2010
Proceedings and Procedures - Meetings of creditors or partners in a winding up by Tribunal and of creditors in a voluntary winding upLimited Liability Partnership (Winding up and Dissolution) Rules, 2010
Rule 245 - Payment of distributable sum or return of Assets due to a deceased creditor or partner
Limited Liability Partnership (Winding up and Dissolution) Rules, 2010 Chapter VI Proceedings and Procedures - Distributable sum and returns of assets in a winding up by Tribunal
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Payment of distributable sum: Tribunal may sanction heirs' claims without succession certificate, subject to payee indemnity. Rule 245 allows a liquidator, having satisfied the claimant's right to a distributable sum due to a deceased creditor or a return of contribution due to a ... Summary
Payment of distributable sum: Tribunal may sanction heirs' claims without succession certificate, subject to payee indemnity.
Rule 245 allows a liquidator, having satisfied the claimant's right to a distributable sum due to a deceased creditor or a return of contribution due to a deceased partner, to apply to the Tribunal for sanction to pay without production of a succession certificate; where sanctioned, the liquidator must obtain a personal indemnity from the payee before payment.
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