By Glen Davis, Michael Steiner & Malcolm Cohen
The Insolvent Partnership Order 1994 came into force on 1 December 1994 and introduced two new procedures: the partnership voluntary arrangement and the partnership administration order. These should give partnership and their creditors greater flexibility when forced with financial difficulty, but will raise new technical problems.
The relationships created in any partnership often prove difficult to unravel and the problems can be approached in many different ways. Insolvent Partnership is the first book to provide an in-depth examination of the options available, using both the new Order and other existing procedures. It provides answers to many of the difficult issues that will arise, such as how the partnership assets should be distributed, when a partner can wind up the partnership and when interlocking IVAs should be used.
In addition to authoritative and up-to-date advise on practice and procedure, Insolvent Partnerships also includes the full text of the new Order, other statutory materials and useful checklists and worked examples, making it an essential reference for all insolvency practitioners and their advisers.
Introduction; The Solvent Partnership; Liquidation on Creditors' Petitions; Liquidation on Member's Petition and/or Joint Bankruptcy Petitions; Provisions Applying in Insolvency Proceedings; Individual Voluntary Arrangements for Partners; Partnership Voluntary Arrangements; Partnership Administration Orders; Disqualification Proceedings Against Partners; Tactical Considerations. Appendices. Index.