Section 41
Debt owed to partner
of Limited Liability Partnerships Act 2005
ActIn forceProvision 41 of 101
Section 41
(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