Administration of a Limited Liability Partnership
Produced in partnership with Andy Taylor of Isadore Goldman Limited, and Emma Knight and Michael Smith of Three Stone
Administration of a Limited Liability Partnership

The following Restructuring & Insolvency guidance note Produced in partnership with Andy Taylor of Isadore Goldman Limited, and Emma Knight and Michael Smith of Three Stone provides comprehensive and up to date legal information covering:

  • Administration of a Limited Liability Partnership
  • Brexit impact
  • Applicable legislation
  • Jurisdiction
  • Applying the Insolvency Act and Rules to LLPs
  • Putting an LLP into administration
  • Application for an Administration Order
  • Out-of-court appointment by the LLP
  • Out of court appointment by the holder of a Qualifying Floating Charge (QFC)
  • Forms
  • more

This note explains how a Limited Liability Partnership (LLP) can be placed into administration, and what powers the administrator has. This Practice Note does not apply to Limited Partnerships (see Practice Note: Limited partnership insolvency).

Brexit impact

As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has entered an implementation period, during which it continues to be subject to EU law. References to exit day in many Brexit SIs are to be read as reference to IP completion day (Implementation Period completion day, defined in clause 39 as 31 December 2020 at 11.00 pm) (unless that provision is expressly disapplied by the SI in question). For further details, see News Analysis: Brexit—impact of the Withdrawal Agreement and European Union (Withdrawal Agreement) Act 2020 for R&I lawyers and Brexit Bulletin—key updates, research tips and resources. For details of the impact on the Recast Regulation on Insolvency, see Practice Note: Brexit—impact on Recast Regulation on Insolvency.

We will continue to monitor developments in this respect and throughout the negotiation period and beyond. In the meantime, for further reading on the impact of Brexit and related issues facing lawyers in this area, see Practice Note: Brexit—worst case scenarios for R&I lawyers.

For updates and details of other Brexit