Commentary

356 Conduct of the liquidation and concurrent insolvencies

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

356 Conduct of the liquidation and concurrent insolvencies

| Commentary

356 Conduct of the liquidation and concurrent insolvencies

The winding up of the partnership proceeds in the same way as the winding up of an unregistered company, and the winding up of any corporate partner and the bankruptcy of any individual partner proceeds in accordance with the usual insolvency provisions, subject to a number of modifications provided for in the Insolvent Partnerships Order 19941. In the main, these modifications reflect the fact that the various insolvencies proceed in conjunction with one another, with either the Official Receiver or one qualified insolvency practitioner acting in respect of all liquidations and bankruptcies2.

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