Vesting of disclaimed lease: sublessee must seek a vesting order within the stipulated period or forfeit lease interest. When an LLP liquidator disclaims a lease, interested sub-lessees or chargees must be ordered to apply for a vesting order within a stipulated period after ... Summary
Limited Liability Partnership (Winding up and Dissolution) Rules, 2012
Vesting of disclaimed lease: sublessee must seek a vesting order within the stipulated period or forfeit lease interest.
When an LLP liquidator disclaims a lease, interested sub-lessees or chargees must be ordered to apply for a vesting order within a stipulated period after service; the vesting order is subject to the same liabilities and obligations as those borne by the LLP under the lease (or as if the lease had been assigned on winding-up commencement), and failure to apply results in exclusion from all interest and security in the premises.
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