On the 11th November 2020 the firm became a Limited Liability Partnership (LLP) and has been authorised to operate and is operating as an LLP from 11th November 2020.
A partner in the LLP has no personal liability for any debts, liabilities or obligations which are incurred for the purpose of carrying on the business of the LLP.
This is so whether these are liabilities of the LLP, of each of the partners or other partner in the LLP or of any employee, agent or representative of the LLP and however such liability may arise. This is subject to the provisions of Section 123 of the Legal Services Regulation Act 2015. This proviso relates only to the personal liability of partners and does not prevent or restrict the enforcement against the property of the LLP of any debt, liability or obligation.
From 11th November 2020 the Partnership Act 1890 applies to the LLP to the extent that it is not inconsistent with Chapter 3 of Part 8 of that Act.