Dissolution of a general partnership—checklist

Copyright © 2025 LexisNexis
Published by a LexisNexis Corporate expert
Checklists

Dissolution of a general partnership—checklist

Copyright © 2025 LexisNexis

Published by a LexisNexis Corporate expert

Checklists
imgtext

Pre-dissolution

What is the background to the dissolution?

Do the continuing partners as a new partnership wish to succeed the dissolved partnership immediately, and wish for that new partnership to take on the assets and liabilities of the dissolved partnership and to continue its business?

Is it a technical dissolution (whereby the business will be continued by the new partnership) or a general dissolution (whereby the partnership’s affairs will be wound up?

Technical dissolution

What specific event or incident is leading to the dissolution? Is it:

  1. •

    a new person being admitted as a partner to the partnership, or

  2. •

    an existing partner leaving the partnership (eg as a result of death or retirement)?

How many partners will remain after the event or incident? If it is less than two, a technical dissolution cannot occur.

What does the partnership agreement provide for in respect of a technical dissolution? Does it provide that on a change in that partnership’s composition, a new partnership taking into account that change will succeed the dissolved partnership immediately and take on

Powered by Lexis+®
Jurisdiction(s):
United Kingdom

Popular documents

Can an LLP be treated as a subsidiary or subsidiary undertaking of a company?

Can an LLP be treated as a subsidiary or subsidiary undertaking of a company?Can an LLP be a subsidiary of a company?Section 1159(1) of the Companies Act 2006 (CA 2006) provides that a company is a ‘subsidiary’ of another company, its ‘holding company’, if that holding company:•holds a majority of

Ending a general partnership—dissolution by the court

Ending a general partnership—dissolution by the courtA partnership can be brought to end by its:•dissolution (see Practice Note: Ending a partnership—what is dissolution?), or•insolvency (see: General partnerships and insolvency—overview)Dissolution by the courtThis Practice Note examines how a

Limited liability partnership agreement—law firm

Limited liability partnership agreement—law firmSTOP PRESS—Impact of the Retained EU Law (Revocation and Reform) Act 2023: This document contains references to retained EU law (REUL) and associated terms introduced by the European Union (Withdrawal) Act 2018 in connection with Brexit. From 1 January

In a two-person partnership, can one partner retire and a new partner be admitted simultaneously without

In a two-person partnership, can one partner retire and a new partner be admitted simultaneously without resulting in the partnership dissolving, and would it be sensible for the admission and retirement to be dealt with in two separate documents?If a partnership experiences a change in its