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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Liquidator Must Follow Committee of Inspection's Directions in LLP Winding Up; Appeals Possible for Aggrieved Parties</h1> The Liquidator in charge of winding up a Limited Liability Partnership (LLP) must consider directions from creditors, partners, or the Committee of Inspection when managing the LLP's assets and distributing them among creditors. If there is a conflict, the Committee of Inspection's directions take precedence. The Liquidator can call meetings with creditors or partners to understand their preferences and must do so upon request from a significant portion of them. While the Liquidator has discretion in asset administration, any aggrieved party can appeal to the Tribunal, which may alter the Liquidator's decisions as deemed appropriate.
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