Annex D - Insolvent Partnerships Order 1994             

Distinguishing features

‘Ordinary’ Partnerships

Winding -up order (WUO) against partnership with or without Bankruptcy order (BO) against any individual partner or WUO against any corporate partner. WUO against each corporate (partner). All separate court numbers.

Article 11 Partnership

Joint bankruptcy order against every partner, trustee of partners’ estates acts as trustee of partnership. No WUO against partnership. All under same Court number. (A ‘bankruptcy’ joint estate account will also be opened.)

Deposit

One deposit applied to the partnership estate.

One deposit apportioned between each partner’s (separate) estate - not to the joint estate.

Administration Fee

Charged to any separate estate and to joint estate.

Charged to each partner’s estate - not to the joint estate.