Liquidator appointments: panel selection, security, fee-setting and conflict disclosure govern LLP winding up procedure.

Rule 29 prescribes that a Liquidator for LLP winding up is either the Official Liquidator or a Tribunal-appointed person from a Central Government panel; the panel must list experienced professionals or firms, and the Government may remove names for misconduct after hearing. Panel appointees must furnish security as directed by the Tribunal at their own cost, with the Tribunal able to vary security; the Tribunal sets appointment terms and fees. Appointees must file a continuing declaration (Form No. 6) disclosing conflicts of interest, and shall be styled "The Liquidator" of the LLP.

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