Section 789 - Chapter 10 - Winding Up And Dissolution

The winding up of a limited liability partnership may be either voluntary or by the Court and limited liability partnership, so wound up may be dissolved.

790. A limited liability partnership may be wound up by the Court if -

(a) all the partners decide that the limited liability partnership be so wound up by the Court;

(b) for a period of more than six months, the number of partners of the limited liability partnership falls below two;

(c) the limited liability partnership is unable to pay its debts;

(d) the limited liability partnership has acted against the interests of the sovereignty and integrity of Nigeria or against her security or public order;

(e) the limited liability partnership has made a default in filing with the Commission, the Statement of Account and Solvency or annual return for any 10 consecutive financial years; or

(f) the Court is of the opinion that it is just and equitable that the limited liability partnership be wound up.