As you may know, the société en commandite spéciale (SCSp) or special limited partnership (SLP) does not have a legal personality.
We indicated in a previous publication (in French) that the SLP has no legal personality. The SLP does not constitute a legal individuality separate from its partners. Does this have an impact on the form that contributions may take, or on the possibility of issuing debt securities for an SLP?
The absence of legal personality does not affect the different forms of contributions to an SLP or the issue of debt securities.
Contributions in cash, in kind or in industry are possible. Also, in accordance with the contractual nature of the SLP, all new contributions (admission of new members - not in relation to the transfer of partnership interests) are carried out in accordance with the terms and conditions set out in the partnership agreement.
The issue of debt securities will of course be possible as for any other Luxembourg company.
References: Articles 320-1 (2), (3) and (4), 100-14 §1 of the law of 10 August 1915 on commercial companies as amended; Société en commandite spéciale et caractéristiques de la personnalité morale des sociétés #109-98*, April 7, 2020, Bertrand Mariaux; Apports des associés, émission de titres de créance et incidence sur l’absence de personnalité juridique (SCSp) - #201-190*, July 8, 2020, Bertrand Mariaux; Toute société peut-elle émettre des obligations ? L’émission de valeurs mobilières (i) - #129-118* , April 27, 2020, Bertrand Mariaux.
*Podcast #322:
*YouTube Video 311*:
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)