Please use this identifier to cite or link to this item: https://www.um.edu.mt/library/oar/handle/123456789/2576
Title: Limited liability partnerships : their introduction for the furtherance of professionals
Authors: Grima, Krystyna
Keywords: Limited liability partnership -- Malta
Partnership -- Malta
Limited partnership -- Malta
Issue Date: 2010
Abstract: The aim of this thesis is to shed light on the subject of limited liability partnerships (LLPs) and to arouse debate as to whether they would be accepted within the Maltese legal system. Chapters one and two are introductory chapters which offer a detailed analysis of the two pillars of LLPs, namely juridical personality and limited liability. Both concepts are well known to Maltese law and have developed in accordance with the needs dictated by society. Particular emphasis is placed on the Second Schedule to the Civil Code as it has clearly defined the concept of legal personality and how it may be obtained. The crux of the thesis lies in chapter three. LLPs are discussed with reference to UK, US and German law. Emphasis, however, is placed on UK legislation, taking cognizance of the relevant regulations which apply company and insolvency law. Chapter four discusses the Maltese approach to the professions, paying particular attention to the lawyer, architect and accountant. A distinction is made between the manner in which each of the latter is regulated, highlighting the fact that the accountancy profession enjoys a more sophisticated body of law than the other two. The importance of professional indemnity insurance is also raised as the current method through which professionals are able to limit their liability, as well as its importance vis-à-vis the LLP structure. Furthermore, chapter four questions whether the LLP would adversely affect ethical behaviour, whether ethics should depend on the liability of the professional and whether the public interest would be negatively affected as a result of the LLP structure. The conclusion brings together all four chapters, arguing that the introduction of the LLP with the relevant and proper legislation, would not prejudice the public interest, neither would it encourage misconduct. Its introduction would simply 4 provide professionals with an alternative medium or structure through which they can operate.
Description: LL.D.
URI: https://www.um.edu.mt/library/oar//handle/123456789/2576
Appears in Collections:Dissertations - FacLaw - 2010

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