Singapore legislation

Section 41

of Limited Liability Partnerships Act 2005

Section 41

Debt owed to partner

(1)

Any sum due to a partner of a limited liability partnership (in the partner’s capacity as a partner) is not a debt of the limited liability partnership payable to that partner in a case of competition between that partner 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) does not apply to any sum due to a partner as repayment of a loan made in good faith by the partner to the limited liability partnership.[32

Section 41 — Limited Liability Partnerships Act 2005