ABSTRACT
The law relating to insolvent partnerships is largely to be found in the Insolvent Partnerships Order 1994 SI 1994/2421 (the Order) which applies many of the provisions of the Insolvency Act 1986 (IA 1986). A number of procedures are available to insolvent partnerships, including two designed to assist in the survival of the business (voluntary arrangements and administration orders) and a number of others designed to assist in the termination of the business. The Order refers to ‘members’, rather than partners, and defines these as partners and those liable under s 14 of the 1890 Act (see 5.5).
