The special limited partnership (SLP - société en commandite spéciale - one of the Luxembourg partnerships) offers real flexibility to its partners, due to its contractual nature.
Thus, distributions and reimbursements to partners and the conditions under which the SLP may request their restitution are governed by the partnership agreement.
Therefore, as the law provides, unless otherwise stipulated in the partnership agreement, the share of each partner in the profits and losses of the SLP is in proportion to his partnership interest.
References: Article 320-5 of the law of 10 August 1915 on commercial companies as amended ; What Is a Special Limited Partnership (Société en Commandite Spéciale) January 14, 2021, #321-310*, Bertrand Mariaux.
*Podcast #335 (see Link on LinkedIn Article)
*YouTube Video 324*
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