LLP: A new organisational form just in time

["D OC" <donaloc@xxxxxxxxxxxxxx>]

Johannes posted:

>The business world was already reeling from the collapse of Enron Corp.,
the
conviction of Arthur Andersen LLP for obstructing the Enron investigation,
and the indictment of former chief executives from ImClone Systems Inc. and
Tyco International Ltd.

I suspect Arthur Anderson was one of the big proponents pushing for the
creation of the new hybrid legal entity LLP - Limited Liability
Partnerships - effectively, this offers the benefits of a Partnership
Structure but with limited liabilities for all principals. This legal
structure was initiated in the US, then Britain and now throughout Europe.

Nice one, that will prevent those houses from being appropriated to pay for
the accumulated debt hanging over the company. It never ceases to amaze how
they can dream up new mechanisms to save their wealth.

D.



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