LLP company unable to pay debt and want to wind up

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asked on Jun 2, 2015 at 15:40
Me and my partner setup a Limited Liability Partnership (LLP) type of company to operate a restaurant in a mall, business turns bad and unable to pay rent. We want to stop the business and quit but the mall want us to pay the remaining rental until the tenancy end, which is still many months ahead.
We thinking of go for winding up and liquidation of our company, will this work and what impact to us as partner. We didn't sign any personal guarantor with the mall.
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answered on May 25, 2017 at 00:13
We didn't sign any personal guarantor with the mall.
If it is a reputable mall, your liability is sure to be included inside the Tenancy Agreement. Check and read the agreement properly again.
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