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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>LLP Liquidator Can Transfer Business to Another LLP with 3/4 Partner Approval; Dissenting Partners Can Demand Buyout.</h1> In the voluntary winding up of a limited liability partnership (LLP), the LLP Liquidator may transfer or sell the LLP's business or property to another LLP with the approval of a resolution passed by at least three-fourths of the partners. The liquidator can accept cash, securities, or other interests as compensation, or arrange for partners to benefit from the transferee LLP's profits. Such arrangements require secured creditors' consent and bind all partners. Partners dissenting from the resolution can demand the liquidator purchase their interest, with payment occurring before the LLP's dissolution, as determined by partner agreement or a registered valuer.
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