Proceedings and Procedures - Distributable sum and returns of assets in a winding up by TribunalLimited Liability Partnership (Winding up and Dissolution) Rules, 2010
Proceedings and Procedures - Distributable sum and returns of assets in a winding up by TribunalLimited Liability Partnership (Winding up and Dissolution) Rules, 2010
Dissolution of LLP requires a liquidator's report and partner or creditor approval, failing which an adjudicatory determination is sought. Dissolution follows completion of winding up and a Form No. 9 report by the LLP Liquidator showing disposal of assets and discharge of debts; approval of ... Summary
Dissolution of LLP requires a liquidator's report and partner or creditor approval, failing which an adjudicatory determination is sought.
Dissolution follows completion of winding up and a Form No. 9 report by the LLP Liquidator showing disposal of assets and discharge of debts; approval of that report and the final accounts by two thirds of partners or two thirds in value of creditors is required (via meeting or circulation with specified 30 day clarification periods). If approval cannot be obtained, the liquidator must seek a Tribunal determination. After resolution, the liquidator files Form No. 10 and an application for dissolution, obtains a Tribunal order, files Form No. 11 with the Registrar, and the Registrar publishes dissolution in the Official Gazette.
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