Revised Laws of Saint Lucia (2022)

94.   Winding-up and dissolution of international limited partnership unable to pay claims, etc.

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    (1)   Where, in the event of a dissolution other than a dissolution by the Court the international general partners of an international limited partnership have reason to believe that the international limited partnership will not be able to pay or provide for the payment of or discharge all claims, debts, liabilities and obligations of the international limited partnership in full, or the liquidator after his or her appointment has reason so to believe, then, the general partners or the liquidator, as the case may be, shall immediately give notice of the fact to the Registrar.

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    (2)   Where notice has been given to the Registrar pursuant to subsection (1), all winding-up and dissolution proceedings after the notice has been given shall be in accordance with the provisions of the Companies Act relating to winding-up and dissolution and those provisions shall apply until the necessary charges to the winding-up and dissolution of the international limited partnership.