As and from the 26th of April 2021, OSM Partners LLP has been authorised by the Legal Services Regulatory Authority to operate, and is now operating, as a limited liability partnership, under the name ‘OSM Partners LLP’.
As and from 26 April 2021, as set out in Section 123 of the Legal Services Regulation Act (the Act) (subject to the exceptions listed in Section 123 of the Act), a partner in OSM Partners LLP has no personal liability for any debts, liabilities or obligations which are incurred for the purpose of carrying on the business of the limited liability partnership (whether these are liabilities of the Firm, of himself or herself, of another partner or partners in the Firm or of any employee, agent or representative of the Firm) and however such liability may arise.
The provisions of the preceding paragraph relate only to the personal liability of partners and do not prevent or restrict the enforcement against the property of the Firm of any debt, liability or obligation.
As and from 26 April 2021 the Partnership Act 1890 shall continue to apply to the Firm to the extent that it is not inconsistent with Chapter 3 of Part 8 of the Act.
For further information on this changeover, please contact your usual Firm contact