The law provides that transfers and dismemberments (démembrements) of partnership interests are only valid against the special limited partnership (SLP - société en commandite spéciale) and third parties if they have been notified to or accepted by the partnership.

Similarly, the law further states that transfers and dismemberments (démembrement) of partnership interests cannot have any effect vis-à-vis third parties with regard to corporate commitments made prior to their publication, except where the third party was aware of them, or could not have been unaware of them.

References: Article 320-7, §3 of the law of 10 August 1915 on commercial companies as amended; #338-327* Partnership Interests: Transfer, Pledge and Dismemberment (SLP), April 21, 2021, Bertrand Mariaux.

*Podcast #339

*YouTube Video 328* 

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