Limited partnerships are governed by the ordinary law of insolvency as applied to insolvent partnerships1. However, the following specific provision is also made in relation to limited partnerships. Where there is a creditor's petition for the winding up of an insolvent partnership as an unregistered company and there are concurrent petitions presented against one or more members, then the court may dismiss the petition against an insolvent member who is a limited partner, if the member lodges in court for the benefit of the creditors of the partnership sufficient money or security to
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and millions of others like it, sign-in to LexisLibrary or register for a free trial.
EXISTING USER? SIGN IN
TAKE A FREE TRIAL
0330 161 1234