Modernisation of German partnership law

New German legislation to modernise partnership law was enacted earlier this month and will enter into force on 1 January 2024. Law firm Oppenhoff has published a short article on the new legislation, 'The German Act to Modernise the Law on Partnerships (Gesetz zur Modernisierung des Personengesellschaftsrechts - MoPeG) - amendments and the need for companies and partners to act'. It is available at:

https://www.oppenhoff.eu/en/news-detail/the-german-act-to-modernise-the-law-on-partnerships-gesetz-zur-modernisierung-des-personengesellschaftsrechts-mopeg-amendments-and-the-need-for-companies-and-partners-to-act

Brief article on reforms to partnership law in Alberta, Canada

Law firms Bennet Jones, and Osler, Hoskin & Harcourt, have both published brief summaries of reforms to the disclosure requirements for limited partnerships in the province of Alberta in Canada. They are available at:

https://www.bennettjones.com/Blogs-Section/Changes-to-the-Alberta-Partnership-Act-Now-in-Effect

https://www.osler.com/en/resources/regulations/2021/amendments-to-reduce-certificate-requirements-for-alberta-limited-partnerships-now-in-force

Brief article on partnership formation in the Philippines

Law firm FCB Law has published a brief article on partnership formation in the Philippines. It is available at https://lawyerphilippines.org/2021/06/03/forming-a-parnership/?utm_source=rss&utm_medium=rss&utm_campaign=forming-a-parnership

US Multistate Tax Commission's Project on State Taxation of Partnerships

Those with an interest in the taxation of US partnerships at State level may be interested in following the work of this project - further information is available at at https://www.mtc.gov/Uniformity/Project-Teams/Partnership-Tax.

Jersey to extend economic substance requirements to partnerships

The government of Jersey has confirmed that it will extend its economic substance requirements, which it has already applied to companies, to partnerships. These requirements stem from commitments given by it to the EU Code of Conduct Group (Business Taxation) and are designed to ensure that firms which are tax resident in Jersey but which have income from geographically mobile financial and other service activities do in fact conduct real economic activity in Jersey.

Law firm Mourant has published a short article on this development, available at: https://www.mourant.com/news-and-views/updates/updates-2021/non-fund-partnerships-to-be-brought-within-scope-of-jersey-s-economic-substance-requirements.aspx

Summaries of recent proposals for changes to Guernsey partnership accounting requirements

Two law firms, Walkers, and Mourant, have published brief summaries of the most recent proposals for changes to the accounting requirements for Guernsey partnerships.

'Guernsey Update: New Plans for Bringing Partnerships in Scope of Economic Substance Rules' is available at: https://s3.amazonaws.com/documents.lexology.com/422afc2b-9038-4993-8755-7000eea27842.pdf?AWSAccessKeyId=AKIAVYILUYJ754JTDY6T&Expires=1621253128&Signature=DOHUu7FtlFROe7dMs6VesmqrxpQ%3D

'Partnerships to be brought within scope of Guernsey's economic substance requirements' is available at: https://www.mourant.com/file-library/media---2021/partnerships-to-be-brought-within-scope-of-guernsey-s-economic-substance-requirements.pdf

Brief introduction to Nigerian partnership law

Resolution Law Firm has published a brief summary of Nigerian partnership law. 'Overview of partnership law & agreement in Nigeria' is available at: https://s3.amazonaws.com/documents.lexology.com/9ae1e9a0-6066-4f5f-8b4c-b65e54db5b3a.pdf?AWSAccessKeyId=AKIAVYILUYJ754JTDY6T&Expires=1621252919&Signature=TQZ5LYPQRJQ8nnk9ElsgWuYSJlw%3D

Brief summaries of changes to Dutch and Caymans limited partnership law

Law firm Jones Day has published a short summary of recent changes to Dutch limited partnership law, principally that tax transparency will now be automatic. 'Dutch Limited Partnerships Attractive Alternative to Luxembourg and Irish Fund Structuring' is available at: https://www.jonesday.com/en/insights/2021/05/dutch-limited-partnerships-attractive-alternative-to-luxembourg-and-irish--fund-structuring

Law firm Ogiers has published a short discussion of 2020 changes to limited partnerships in the Cayman Islands. 'Private equity and Cayman Islands funds: tips, trends and pitfalls for limited partners' is available at: https://www.ogier.com/publications/private-equity-and-cayman-islands-funds-tips-trends-and-pitfalls-for-limited-partners

Practitioner articles on i) compulsory retirement, ii) demergers, and iii) partnership property

Law firm CM Murray has recently published short articles on

i) issues arising from the recent judgment in Joseph v Deloitte in relation to compulsory retirement provisions in LLP agreements - available at: https://www.cm-murray.com/knowledge/is-it-time-to-spring-clean-your-partnership-or-llp-agreement-following-the-court-of-appeal-judgment-in-joseph-v-deloitte/?utm_source=rss&utm_medium=rss&utm_campaign=is-it-time-to-spring-clean-your-partnership-or-llp-agreement-following-the-court-of-appeal-judgment-in-joseph-v-deloitte

ii) partnership/LLP demergers - available at: https://www.cm-murray.com/knowledge/partnership-and-llp-demergers-steps-to-avoid-derailing-a-spin-off/?utm_source=rss&utm_medium=rss&utm_campaign=partnership-and-llp-demergers-steps-to-avoid-derailing-a-spin-off

Law firm Birketts has published a brief article on some of the problematic issues arising in relation to partnership property in the context of an English, Welsh or Northern Irish general or limited partnership. It is available at: https://www.birketts.co.uk/insights/legal-updates/partnership-property-disputes-when-things-go-wrong

Call for Papers - 4th Annual Conference of the Partnership, LLP and LLC Law Forum

9 September 2021
Nottingham Trent University, UK

Call for Papers

The Partnership, LLP and LLC Law Forum is pleased to host its 4th Annual Conference in conjunction with the Centre for Business and Insolvency Law at Nottingham Law School. The Conference aims to bring together all those with an interest in partnerships, LLPs, LLCs and other alternative forms of business organisation in the UK and overseas.

The following speakers have provisionally confirmed:
· Professor Geoffrey Morse (University of Birmingham)
· Roderick I’Anson Banks (Partnership Counsel, 9 King’s Bench Walk)
· Jeremy Callman (Ten Old Square, Lincoln’s Inn)

Proposals are invited for further papers on any aspect of partnership, LLP and LLC law and practice, in the UK or overseas. The usual format is a 20 minute presentation accompanied by slides or a handout, followed by an opportunity for questions. However, proposals for panel discussions or other formats as welcome, as are proposals for joint papers.

Proposals should specify the i) names of the speaker(s), ii) their firm/university/other institutional affiliation, iii) their contact details including email address, and iv) the topic area(s). If the proposal is accepted, we will ask you for a title. Shortly before the conference, we will also require an abstract/summary of the paper, and any accompanying slides/handout. You do not need to supply a full copy of the paper.

It is intended that the Conference will be an in-person event, but if Covid-related restrictions make this impractical, it will be moved online as occurred in 2020. Proposals should specify whether the speaker would be prepared to present online if necessary, or only in person.

Proposals should be emailed with the subject line ‘Partnership Conference 2021 – call for papers’ to Dr Beatriz Gómez Fariñas at beatriz.gomezfarinas@ntu.ac.uk no later than 23 April 2021. Anyone wishing to make an informal inquiry ahead of submission of their proposal is welcome to do so.

We aim to confirm acceptance of papers by 14 May 2021. Conference registration will open in June and all speakers will need to register.

We look forward to receiving your proposals, and meeting you at the Conference.