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This introduces the following fundamental
changes to the 1986 Order:
- Partnership Voluntary Arrangements
- Partnership Administration
It also allows a creditor to bring
a bankruptcy petition on one or more partner without seeking
to wind up the partnership. If this happens, the partner /
partners involved would pay the debt and then claim this back
from the remaining partner/partners, or they will be made
bankrupt.
To read about partnership voluntary arrangements
or partnership administration, please click over the appropriate
text in the left hand index.
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