أسئلة وأجوبة
How can I exit a mainland civil company when my partner is unresponsive?
Dear Questioner,
I am a 50% shareholder of a mainland civil company. My partner is unresponsive, and I wish to close down the company or leave it.
What should I do?
Hello,
The MoA outlines the rights and responsibilities of each partner, including what happens if one partner becomes unresponsive or wishes to exit the company.
Look for any specific clauses related to the exit of partners, buyouts, or dissolution processes.
If you decide to dissolve the company, follow these steps:
- Draft a dissolution agreement that outlines the reasons for dissolution and the terms of the exit for both partners.
- Ensure that all company debts are paid off, and any outstanding obligations are settled.
- If possible, get a signed agreement from your partner to dissolve the company.
- If they remain unresponsive, you have to proceed with legal action.
- Inform the relevant authorities about the decision to dissolve the company including the Department of Economic Development.
- Cancel Licenses and Registrations.
- Prepare final accounts and file any necessary tax returns.
For further assistance, kindly share your WhatsApp number.
Dear Questioner,
You can contact us and take legal action according to the principles followed in corporate law, either through terminating the company by agreement or through the judiciary.
WhatsApp number [---------].
Dear Questioner,
You must file a lawsuit to dissolve the partnership and liquidate the company.
To communicate and explain the procedures, please provide us with your number.
Dear Questioner,
Options available:
- Attempt to sell your share or find a third party to buy the share.
- Formally notify the partner of your intention to liquidate or exit the company.
- File a request to the Commercial Court to resolve the dispute.
- Go to the Department of Economic Development (DED) to start the official liquidation procedures if you wish to close the company.
For assistance, please contact us via phone or WhatsApp at [----------].
Dear Questioner,
As a 50% shareholder in a mainland civil company, you have certain rights and options when dealing with an unresponsive partner.
Attempt to communicate with your partner through various channels (email, phone, in-person meetings) to discuss your concerns and find a mutually agreeable solution.
If he is not willing, you may file a petition with the court to dissolve the company according to the partnership agreement.
We will let you know the procedures in detail.
Kindly share your WhatsApp number to discuss this further.
