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of <h1>Rule 234: Handling Disclaimed Leasehold Property in LLP Winding Up; Vesting to Suitable Persons or Trustees Explained</h1> Rule 234 of the Limited Liability Partnership (Winding up and Dissolution) Rules, 2012, addresses the vesting of disclaimed leasehold property. When an application is made by an interested party or someone liable for disclaimed property, the Tribunal may order the property to vest in a suitable person or trustee. If the property is leasehold, the Tribunal requires the claimant to assume the LLP's liabilities under the lease. If no claimant accepts these terms, the Tribunal can vest the property in someone liable for the lease obligations. Injured parties can claim compensation as creditors in the winding-up process.
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