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Insolvent LLP: members’ liability

Members’ liability when their LLP becomes insolvent is not as limited as members may expect. LLP members’ liability is not always limited to their capital contributions. A failed LLP’s members are not in the same position as a failed limited company’s shareholders….

Limited Partnerships: proposed change

The Limited Partnership, LP, is the legal vehicle of choice for UK private funds. Currently, the Limited Partnerships Act 1907 determines the legal regime. Often labelled “deficient”, the UK Government, on Treasury advice, is updating this regime. Limited Partnership Act…