GMPK LLP, a firm that provides financial services, has suffered financially due to a marked loss of reputation to the point where it cannot now meet its debts. There are several options applicable to a company in such circumstances, but which of the following is/are also applicable to GMPK as a limited liability partnership?

 

1. Voluntary arrangement.
2. Administration.
3. Voluntary liquidation.
4. Compulsory liquidation.

 

1. All of the above.
2. I. and II. only.
3. I. and III. only.
4. III. and IV. only.