Law of Insolvent Partnerships and Limited Liability Partnerships

Law of Insolvent Partnerships and Limited Liability Partnerships Synopsis

Although insolvency law and partnership/LLP law are both well-established areas of legal practice in their own right, this is the only text which comprehensively explains and analyses insolvency law as it applies to all three types of business partnership available under English law; general partnerships, limited partnerships and LLPs. Law of Insolvent Partnerships and Limited Liability Partnerships explains the legal framework applicable to insolvent partnerships and LLPs: principally the Insolvent Partnerships Order 1994 and the LLP Regulations 2001 applying and modifying parts of the Insolvency Act 1986, the Companies Act 2006 and the Insolvency Rules. It includes detailed discussion of potential rescue procedures (compositions and arrangements, voluntary arrangements and administration), as well as the various types of receivership (including agricultural receiverships). It then explains and analyses the four possible partnership liquidation procedures (with or without concurrent petitions against partners), the voluntary and compulsory liquidation of LLPs, and the joint bankruptcy procedure which is unique to partnerships. Finally it examines the options for insolvency litigation and disqualification.

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