ByrneWallace LLP - Change in status of ByrneWallace to a limited liability partnershipMonday, 21 December 2020
As and from 21 December 2020, ByrneWallace has been authorised by the Legal Services Regulatory Authority to operate, and is now operating, as a limited liability partnership, under the name ‘ByrneWallace LLP’ (the Firm).
As and from 21 December 2020, as set out in Section 123 of the Legal Services Regulation Act (the Act) (subject to the exceptions listed in Section 123 of the Act), a partner in ByrneWallace has no personal liability for any debts, liabilities or obligations which are incurred for the purpose of carrying on the business of the limited liability partnership (whether these are liabilities of the Firm, of himself or herself, of another partner or partners in the Firm or of any employee, agent or representative of the Firm) and however such liability may arise.
The provisions of the preceding paragraph relate only to the personal liability of partners and do not prevent or restrict the enforcement against the property of the Firm of any debt, liability or obligation.
As and from 21 December 2020 the Partnership Act 1890 shall continue to apply to the Firm to the extent that it is not inconsistent with Chapter 3 of Part 8 of the Act.