The German Limited Partner contibuted the investment equity. Both the German General Managing Partner and the Limited Partner (with the equity) of the German LLP which is the Limited Partner of the Limited Partner of the English LLP, have been dissolved in Germany and the assets transferred to an undisclosed overseas third party.
What is the continuing status of the English LLP and is it entitled to persue claims in litigation?
Is it required to report a change in its members to Companies House?
What other consequences are there of the dissolution of the members of the Limited Partner and its withdrawal of the equity?
Replies (13)
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There are a couple of non sequiturs in what you say.
What litigation?
What withdrawal of equity?
Yes of course the LLP is required to report a change in its members. Why would you think it wouldn’t have to?
What you appear to be describing is a 1907 LP, rather than a 2000 LLP. If there is only one partner in a 1907 LP, there is no partnership.
If you genuinely mean LLP, then it can have just one member, but after 6 months, without another member being added, the remaining member will be joint and severally liable with the LLP for its debts.
In the case of either a 1907 LP or a 2000 LLP, changes in the membership must be reported to Companies House.
No it doesn't dissolve it, any more than the death of shareholders dissolves a company. It just means that the members are different. You say that the new member of the LLP is an "undisclosed overseas third party". Is that the only member?
What litigation the LLP is to pursue will be for its members to decide. What is it you say was done unlawfully, and by whom was it done?
The LLP must have unpaid creditors for any of this to be an issue. Is that the case? Are you one of them?
Yes but what is your interest? Are you a creditor who has been left high and dry? Are you acting for a a creditor? You seem to think that this is an important matter but appear to be trying hard not to explain why.
You make no sense referring to a 2000 LLP and then referring to one of its members as a limited partner (having previously referred to the other as the general partner).
Until you know what it is that you're talking about, you're not going to get a meaningful response here.
John's basically just a bot that either answers the question posed, or seeks to elicit more information to answer the question posed, or, if neither or the first two options is available, answers what he thinks the question should be.
How was this LLP formed? ie was it incorporated or is their just an agreement, and it was then registered at Companies House?