News UK Halliwells uses assets as security on RBS loan By The Lawyer 19 February 2009 10:50 13 December 2015 21:49 Sign in or register to continue reading. It's FREE Sign in Email Password Keep me logged in Forgot your password? Not registered? It's FREE! Register now Register with The Lawyer William Ballmann 19 February 2009 at 18:14 LLPs This is the new world we live in. An LLP can give a lender a debenture over its assets and more and more professional LLPs will be asked to do so. And yes the debenture holder can appoint an administrator (not an administrative receiver by the way) the appointment is not an Intervention issue per se and the administrator can sell the business to either another firm of solicitors or to a new LLP formed by some or all of the partner members of the insolvent LLP. Reply Link Name Email Cancel reply Threaded commenting powered by interconnect/it code.