Application of financial provision

(1) Notwithstanding section 29 or any other enactment or law to the contrary, the person responsible for winding-up the affairs of a limited liability partnership shall apply any payment made pursuant to section 7 (2) or (5), in the payment of creditors to whom the limited liability partnership is liable by virtue of section 5 (1), excluding any partner or former partner in the limited liability partnership in respect of his partnership interest or in respect of any loan made by him to the partnership for any purpose. (2) A failure to comply with sub-section (1), shall be actionable at the suit of a creditor of the limited liability partnership who suffers loss as a result of such failure, subject to the defences and other incidents applicable to actions for breach of statutory duty. (3) Any monies remaining after payment of the creditors as described in sub-section (1), shall be distributed in accordance with section 29. 32