A limited partnership is not accepted as a corporate legal entity. That is why being a managing partner makes you responsible for the loans of CV. It is your direct responsibility to file for personal bankruptcy whenever CV is declared bankrupt
It is important to note that managing partners who join a limited partnership are responsible for the loans formed prior they entered it. Examining accounts of the VOF’s and evaluating its financial structure before entering the general partnership is very important.
Limited partners are going to lose their financial contribution in the partnership, except if they are managing partners that represent CV to others. If that is the case, limited partners are also individually responsible.