(1) Liquidation takes place after dissolution of the partnership, unless some other manner of arrangement has been agreed upon by the partners, or insolvency proceedings have been opened in respect of the assets of the partnership.
(2) Where the partnership has been dissolved as a result of termination by a creditor of one of the partners or as a result of the opening of insolvency proceedings concerning the assets of the partnership, liquidation may be averted only with the consent of the creditor concerned or of the insolvency administrator; if debtor-in-possession management has been ordered in the insolvency proceedings, consent of the debtor will replace consent of the insolvency administrator.
(3) If the partnership has been dissolved as a result of being deleted from the Commercial Register due to lack of assets, liquidation will take place only if, after being deleted, it is determined that assets exist which are subject to distribution.