Minimum partner requirement exposes sole continuing partner to personal liability for obligations after prolonged reduction. Every limited liability partnership must have at least two partners. If the number of partners falls below two and the LLP carries on business beyond the prescribed period while the partner count remains reduced, the person who is the only partner during that period and who has knowledge that the business is being carried on with them alone is personally liable for obligations incurred during that period.
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Provisions expressly mentioned in the judgment/order text.
Minimum partner requirement exposes sole continuing partner to personal liability for obligations after prolonged reduction.
Every limited liability partnership must have at least two partners. If the number of partners falls below two and the LLP carries on business beyond the prescribed period while the partner count remains reduced, the person who is the only partner during that period and who has knowledge that the business is being carried on with them alone is personally liable for obligations incurred during that period.
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