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Jersey Limited Liability Partnerships

January 2013 - Finance. Legal Developments by Ogier .

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Legislation has recently been passed by the States of Jersey to amend the Limited Liability Partnerships (Jersey) Law 1997 (the Law). A Jersey Limited LiabilityPartnership (LLP) is a legal person distinct from its partners which can own property, sue and be sued in its own name. Each of its partners is obliged to contribute effort and skill to the business of the LLP as agents of the partnership but not of each other.