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Accounting and Corporate Regulatory Authority

Limited liability partnerships (LLPs) under receivership

Receivership occurs when lenders with charges over your LLP's assets appoint someone to recover their debts.

Last updated 29 January 2026

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What is receivership
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What is receivership

If you have creditors (lenders with charges over your assets), they may appoint a receiver to enforce the charge.

The receiver may sell the asset or run the business temporarily until they recover what is owed.

For more details on receivership, please refer to the Fourth Schedule of the LLP Act 2005. You may also seek professional advice.

Related pages

Closing a Limited Liability Partnership (LLP)

You can either strike off an LLP if it is inactive and debt-free, or wind up if there are debts to settle.