Voluntary administration
Voluntary administration provides an alternative to liquidation for Limited Partnerships in financial distress.
The voluntary administration provisions outlined in Part 15A of the Companies Act 1993 applies to Limited Partnerships, with all necessary modifications, to a Limited Partnership as if references to –
- a company were references to a Limited Partnership;
- a director were references to a General Partner;
- a shareholder were references to a Limited Partner;
- a board were references to the General Partners.
