Conflict-of-interest in LLP liquidation: liquidator must obtain tribunal sanction before purchasing goods from connected persons. A liquidator carrying on LLP business must not purchase goods from any person connected to him such that he would obtain a direct or indirect benefit, unless he obtains express sanction of the Tribunal; the application must disclose his interest and the cost of obtaining sanction is borne personally by the liquidator.
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Provisions expressly mentioned in the judgment/order text.
Conflict-of-interest in LLP liquidation: liquidator must obtain tribunal sanction before purchasing goods from connected persons.
A liquidator carrying on LLP business must not purchase goods from any person connected to him such that he would obtain a direct or indirect benefit, unless he obtains express sanction of the Tribunal; the application must disclose his interest and the cost of obtaining sanction is borne personally by the liquidator.
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