Investigation and examination powers for LLP fraud reports enable Tribunal-directed inquiries and transfer to compulsory winding up. Where an LLP Liquidator reports sufficient evidence of fraud materially affecting partners, creditors, the LLP or public, the Tribunal may order an investigation under section 43, and on that investigation may direct that any person attend and be examined regarding promotion, formation, conduct of the business of the LLP or conduct as an officer. If the reported person is not a partner or designated partner, the Liquidator should intimate partners or designated partners and include their views. The Tribunal may also transfer voluntary winding up to compulsory winding up, and Part VI public examination provisions apply mutatis mutandis.
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.
Investigation and examination powers for LLP fraud reports enable Tribunal-directed inquiries and transfer to compulsory winding up.
Where an LLP Liquidator reports sufficient evidence of fraud materially affecting partners, creditors, the LLP or public, the Tribunal may order an investigation under section 43, and on that investigation may direct that any person attend and be examined regarding promotion, formation, conduct of the business of the LLP or conduct as an officer. If the reported person is not a partner or designated partner, the Liquidator should intimate partners or designated partners and include their views. The Tribunal may also transfer voluntary winding up to compulsory winding up, and Part VI public examination provisions apply mutatis mutandis.
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