Rule 174 - Costs of calling meetings at the instance of creditor or partner.

Cost deposit requirement for convening creditor or partner meetings; deposit may be repaid from LLP assets upon direction.

Where a creditor or partner requests the LLP liquidator to convene a meeting, the liquidator may require the requester to make a deposit to cover meeting costs, including necessary disbursements for printing, stationery, postage and room hire; the deposit is repayable from LLP assets if the Tribunal or, in voluntary winding up, creditors by resolution direct. Exemptions apply to meetings summoned by the liquidator under the specified rule and to creditor called meetings to fill a liquidator vacancy.