Priority of Liquidator's Costs ensures liquidation expenses are paid before pro rata distribution to creditors. LLP assets must be applied first to meet winding up costs, including expenses, charges, fees and the Liquidator's remuneration, and thereafter applied ... Summary
Priority of Liquidator's Costs ensures liquidation expenses are paid before pro rata distribution to creditors.
LLP assets must be applied first to meet winding up costs, including expenses, charges, fees and the Liquidator's remuneration, and thereafter applied pari passu to discharge the LLP's liabilities in accordance with the Act and rules.
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