Limited Liability Partnerships Order, 2010 · s 33

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s 33Debt owed to partner

(1)

Any sum due to a partner of a limited liability partnership in his capacity as a partner shall not be a debt of the limited liability partnership payable to that partner in a case of competition between himself and any other creditor who is not a partner, but any such sum may be taken into account for the purpose of the final adjustment of the rights of the partners among themselves.

(2)

Subsection ( 1) shall not apply to any sum due to a partner as repayment of a loan made in good faith by him to the limited liability partnership.