Section 14 of Limited Liability Partnership Act CAP 30: What is the effect of a partner becoming bankrupt.

    

(1) This section applies to a limited liability partnership unless otherwise provided for in the relevant limited liability partnership agreement.
(2) If a partner of the limited liability partnership is adjudicated bankrupt by acourt in Kenya or elsewhere, the bankruptcy is not by itself cause for the partner to cease being a partner of the partnership, but the restriction on the partner being a manager of the partnership under Part VI applies.
(3) The Official Receiver or a trustee of the estate of the bankrupt partner is not entitled to interfere in the management of the limited liability partnership but is entitled to receive distributions from the partnership that the bankrupt partner is entitled to receive under the limited liability partnership agreement.


Disclaimer: This document is not to be taken as legal advise.

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