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LLP Liquidator to accept contribution, etc., as consideration for sale of property of LLP

Rule 20 - Rule - LLP - Rule 20 - 20. . (1) Where a limited liability partnership (the transferor LLP) is proposed to be, or is in the course of being, wound up voluntarily and the whole or any part of its business or property is proposed to be transf .....

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ng on LLP liquidator either a general authority or an authority in respect of any particular arrangement,- (a) receive, by way of compensation wholly or in part for the transfer or sale, cash, securities, policies, or other like interests in the tran .....

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to, participate in the profits of, or receive any other benefit from, the transferee LLP: Provided that no such arrangement shall be entered into without the consent of the secured creditors, if any. (2) Any transfer, sale or other arrangement in pur .....

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