This question is interesting in order to determine what has to be included in the limited partnership agreement of a special limited partnership (SLP - or société en commandite spéciale, SCSp). Let’s see how we may avoid taking any risk in this respect.

An SLP may only be declared void:

1. if the constitutive document does not contain any indication as to: 

   1. the denomination of the partnership; or

   2. its corporate purpose.

2. if the corporate purpose is:

   1. unlawful; or

   2. contrary to public policy (ordre public);

3. if the partnership does not include at a minimum - validly committed and distinct from each other ; 

   1. a general partner (associé commandité); and

   2. a limited partner (associé commanditaire).

References: Article 320-1 (8) of the law of 10 August 1915 on commercial companies as amended; Les cas de nullité d’une SCSp - #205-194*, 12 juillet 2020, Bertrand Mariaux ; #325-314*Domicile and presumption of central administration - SLP/SCSp V, February 10, 2021, Bertrand Mariaux.

*Podcast #326

*YouTube Video 315*

Bertrand Mariaux, Avocat à la Cour, LL.M. (hons.)

Prestation de serment (Swearing-in oath): Luxembourg (2011), Certificat d’Aptitude à la Profession d’Avocat, École de Formation professionnelle des Barreaux de la Cour d’appel de Paris (2009), Bond University (LL.M. (distinct.), International Legal Practice, 2010), Université Sorbonne Paris Nord & University of Limerick (Master in European & International Law - major in economics, 2008), certified Expert in Microfinance (Frankfurt School of Finance & Management, 2015), social entrepreneurship (University of Oxford, 2015 & The Wharton School of Social Policy & Practice, 2014) and social & solidarity economy (International Labour Organization Academy - Social & Solidarity Economy, Organisation Internationale du Travail - Économie Sociale et Solidaire, 2017)

Contributor: Cédric Buisine, Avocat

Editor: Nikolai Shillinglaw