Q&As

Is there any authority on whether a foreign limited partnership incorporated in the British Virgin Islands can be put into administration in the UK? Does the Insolvent Partnerships Order 1994, SI 1994/2421, apply to foreign (non-registered) entities such as limited partnerships?

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Produced in partnership with Eleanor Stephens
Published on LexisPSL on 03/03/2020

The following Restructuring & Insolvency Q&A produced in partnership with Eleanor Stephens provides comprehensive and up to date legal information covering:

  • Is there any authority on whether a foreign limited partnership incorporated in the British Virgin Islands can be put into administration in the UK? Does the Insolvent Partnerships Order 1994, SI 1994/2421, apply to foreign (non-registered) entities such as limited partnerships?

Is there any authority on whether a foreign limited partnership incorporated in the British Virgin Islands can be put into administration in the UK? Does the Insolvent Partnerships Order 1994, SI 1994/2421, apply to foreign (non-registered) entities such as limited partnerships?

Limited partnerships in the BVI may or may not have a separate legal personality to their members.

For information on the administration of English limited liability partnerships (LLPs) which do have a separate legal personality, see Practice Note: Administration of a Limited Liability Partnership. The Limited Liability Partnerships Act 2000 (LLPA 2000) introduced LLPs and must be read in conjunction with the Limited Liability Partnerships Regulations 2001 (LLPR 2001), SI 2001/1090. LLPR 2001, SI 2001/1090 apply the Insolvency Act 1986 (IA 1986) and Insolvency (England & Wales) Rules 2016 (IR 2016), SI 2016/1024 to LLPs. The Limited Liability Partnerships (Amendment) Regulations 2005, SI 2005/1989 implemented the new administration regime in respect of LLPs. This means that IA 1986, Sch B1 on administrations applies to English LLPs. Administration is also available to English limited partnerships which do not have a separate legal personality.

However, IA 1986 only applies to LLPs registered in Great Britain. In addition, the Insolvent Partnerships Order 1994, SI 1994/2421, reg

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