Chapter VI - Proceedings and Procedures - Petition for Winding up, Provisional Liquidator, Winding up Order, and Statement of Affairs, (From Rule 101 to Rule 110)
Chapter VI - Proceedings and Procedures - Meetings of creditors or partners in a winding up by Tribunal and of creditors in a voluntary winding up (From Rule 168 to Rule 190)
Chapter VI - Proceedings and Procedures - Proxies in relation to meetings in winding-up by Tribunal and to meetings of creditors in a voluntary winding-up (From Rule 191 to Rule 200)
Chapter VI - Proceedings and Procedures - Monies due from partners in a winding up by the Tribunal including outstanding contribution, etc. (From Rule 206 to Rule 209)
Chapter VI - Proceedings and Procedures - Examination of person suspected of having property of LLP etc. and examination of partners, designated partners, officers etc., in connection with the fruad etc. (From Rule 210 to Rule 224)
Chapter VI - Proceedings and Procedures - Application against delinquent partners, designated partners and officers of the LLP (From Rule 225 to Rule 234)
Chapter VI - Proceedings and Procedures - Payment of unclaimed distributable sums and undistributed assets into the LLPs liquidation account in a winding up (From Rule 296 to Rule 298)
Fraudulent trading can render LLP members personally and jointly liable for company debts and subject to asset charges. Summons under rule 225 invokes an application by a liquidator or creditor alleging the LLP carried on business with intent to defraud creditors, and that specified respondents knowingly participated. It seeks declarations that those respondents are personally and without limitation liable for debts incurred in the relevant period, joint and several liability to pay sums owing for goods, services or other liabilities, an order for payment to the liquidator, creation of a first charge on specified assets or securities to enforce the liability, and payment of costs.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Fraudulent trading can render LLP members personally and jointly liable for company debts and subject to asset charges.
Summons under rule 225 invokes an application by a liquidator or creditor alleging the LLP carried on business with intent to defraud creditors, and that specified respondents knowingly participated. It seeks declarations that those respondents are personally and without limitation liable for debts incurred in the relevant period, joint and several liability to pay sums owing for goods, services or other liabilities, an order for payment to the liquidator, creation of a first charge on specified assets or securities to enforce the liability, and payment of costs.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
