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of <h1>Liquidators Need Tribunal Approval for Distributions Under Rule 240 of LLP Winding Up Rules 2010</h1> Rule 240 of the Limited Liability Partnership (Winding up and Dissolution) Rules, 2010, mandates that a Liquidator cannot declare a distributable sum to creditors or return assets to partners without the Tribunal's approval. Payments to creditors require a filed list of creditors and Tribunal sanction as a distributable sum. Similarly, payments to partners necessitate a final settlement list and Tribunal approval. This ensures that all distributions during a winding-up process are properly documented and authorized by the Tribunal.
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