Commentary

348 Grounds for winding-up where no concurrent insolvency of members

BANKRUPTCY AND INSOLVENCY (INDIVIDUAL INSOLVENCY) vol 3(2)
| Commentary

348 Grounds for winding-up where no concurrent insolvency of members

| Commentary

348 Grounds for winding-up where no concurrent insolvency of members

The Insolvency Act 1986 specifies the following circumstances in which a partnership may be wound up on a creditor's petition as an unregistered company, namely1:

  1. 348.1

        if the partnership is dissolved, has ceased to carry on business, or is carrying on business solely for the purpose of winding up its affairs;

  2. 348.2

        if the partnership is unable to pay its debts, ie:

    1. 348.2.1

          where a creditor has served a written demand for payment of a debt of £750 or more in prescribed form on the partnership and the partnership has

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to LexisLibrary or register for a free trial