English to Polish Bus/Financial Finance (general)

The new regulations also include ***claw-back provisions*** which require any member who withdrew any property from the LLP within two years before the winding-up of an LLP to make a contribution to the LLP up to the amounts withdrawn if:

1. the member knew or had reasonable grounds for believing that the LLP was insolvent or would become insolvent as a result of that withdrawal and any other withdrawals occurring in contemplation at that time; and
2. the member knew or ought to have concluded that after each withdrawal there was no reasonable prospect that the LLP would avoid going into insolvent liquidation.

LLP - Limited Liability Partnership