A limited partner (LP) may enter into any transaction with the common limited partnership (CLP) - société en commandite simple itself. This transaction will not affect the rank of any unsecured or privileged creditor of that same LP. The terms of the transaction with this LP may not create a prejudice to the status of the other LPs of the CLP. A transaction with a LP will not breach the principle of equal treatment of the LPs by the GP of the CLP. There is no conflict of interest in this case.

References: Article 310-3, §1 of the law of 10 August 1915 on commercial companies as amended; #345-334* Partners’ Contribution in a Common Limited Partnership - CLP/SCS II, April 30, 2021, Bertrand Mariaux.

*Podcast #353

*YouTube Video 342*

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