UK Limited Partnership Reform Will Benefit Investors
Law360, New York (March 10, 2017, 12:10 PM EST) -- The limited partnership (LP) is a widely used vehicle in the European private funds industry, particularly within the private equity sector. It offers a flexible, tax-transparent structure that affords investors (i.e. the limited partners) limited liability status, as long as they do not participate in the "management" of the LP's business.
A deficiency of the current LP legislation is that it does not set out what constitutes "management." Investor clients often ask their counsel to what degree their monitoring, advisory and consultation rights could be construed as management of an LP and jeopardize their limited liability. To date, market practice has...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!