Categories:North West

Halliwells uses assets as security on RBS loan

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  • 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.

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