Misfeasance and breach of trust: compel delinquent LLP partners to account, contribute to assets and pay interest. Summons under rule 225 seeks a declaration that specified partners or officers misapplied or retained LLP money or property or committed misfeasance and ... Summary
Limited Liability Partnership (Winding up and Dissolution) Rules, 2012
Misfeasance and breach of trust: compel delinquent LLP partners to account, contribute to assets and pay interest.
Summons under rule 225 seeks a declaration that specified partners or officers misapplied or retained LLP money or property or committed misfeasance and breach of trust, with particulars to be set out. It prays for inquiries and accounts to determine sums liable by way of compensation, an order that respondents jointly and severally contribute those sums to the LLP assets and pay them to the Liquidator with interest from the dates of wrongful payment until replacement, payment of application costs, and such other orders as the tribunal considers fit.
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