Section 46
Liabilities and obligations of partner before conversion
of Labuan Limited Partnerships and Limited Liability Partnerships Act 2010
Notwithstanding sections 38 to 44, every partner of a
Labuan limited partnership that has converted to a Labuan limited liability partnership shall continue to be personally liable (jointly and severally with the Labuan limited liability partnership) for the liabilities and obligations of the Labuan limited partnership which were incurred prior to the conversion or which arose from any contract entered into prior to the conversion.
(2)
If any such partner discharges any liability or obligation referred to in subsection (1), that partner shall be entitled, subject to any agreement with the Labuan limited liability partnership to the contrary, to be fully indemnified by the Labuan limited liability partnership in respect of such liability or obligation.