Clause 61 - Power of Tribunal to enforce compromise or arrangement

Tribunal power to supervise compromises allows directions or modifications and, if unworkable, ordering winding up.

When the Tribunal sanctions a compromise or arrangement for a limited liability partnership it has power to supervise implementation and may give directions or make modifications at the time of order or thereafter to ensure proper working. If the Tribunal finds the sanctioned compromise or arrangement cannot be worked satisfactorily with or without modifications, it may, on its own motion or on application by any person interested, make an order for winding up the limited liability partnership, deemed to be an order under the Act's winding-up provisions.