Custody of LLP properties enforced by liquidator under tribunal orders, with transfers and possession directed to protect assets.

On a winding up order or appointment of a Provisional Liquidator, the liquidator shall, on Tribunal order, take into custody or control all property, assets, effects and actionable claims of the LLP and protect them. The Tribunal may require partners, trustees, bankers, agents, officers, employees or other persons to deliver money, property or books to the liquidator, and may direct a magistrate to take possession of such items and hand them to the liquidator. All LLP property is deemed in the custody of the Tribunal from the winding up order date.

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