Questions & Answers
Questions & Answers
3 available 3 • View allWhat should I do if my partner takes control of our company’s assets and misuses funds?




1
Q: Hello,
My 50-50 business partner has taken control of the company phone, social media, and bank accounts.
Previously, he took 20,000 in cash to pay for his operation without consent.
What can I do?
+5
Jan 28, 2025
217
How to take legal action against a partner who misused a POA and took over the business?
1
Q: Asalamu Alaikum,
I have a question about one partner who took over all the business and blamed the main partner of the business who started this business with his investment.
The partner lied and used a fake signature to trap him. He threatened him with jail. The main partner gave him a power of attorney in his absence.
But he needs to use it with the approval of his main partner. He has purposefully kept his company in the red for the last eight months.
We need legal assistance in this case to get out of this situation.
Sep 13, 2023
306
My partner is hiding documents and emptying the bank account. What can I do?




1
Q: Dear Lawyers,
I have a 49% share in a 2-year-old Dubai mainland LLC. We are two foreign owners, both managers.
My partner, who is appointed as the main manager, is hiding all documents and keeps the bank account empty through ATM withdrawals, which prevents me from obtaining evidence or finding a buyer.
A legal notice is likely to be ignored, and removing my partner would be a lengthy process. I have no concrete evidence of a breach of trust. What are my options?
Thank you!
+2
Aug 29, 2024
178
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In view of the fact that the manager is primarily the point of reference for the company in the business streets, he is generally authorized by a power of attorney provided by the shareholders of the company or via the MOA of the company. In certain cases exceeding the powers given to the manager may make the manager, or the LLC itself, liable, depending on the nature of the manager’s actions.
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What Can I Do If I Have a Dispute With My Joint Shareholder? 5
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Laws & Regulations
4 available 4 • View allFederal Decree-Law No. (32) of 2021 on Commercial Companies 0
The provisions of this Federal Decree-Law No. (32) of 2021 on Commercial Companies governs commercial companies in the United Arab Emirates. The New Commercial Companies Code repeals the previous UAE Commercial Companies Code (Federal Law No. (2) of 2015 on Commercial Companies).
Sep 20, 2021
308
Federal Law No. (5) of 1985 On the Civil Transactions Law of the United Arab Emirates 96
The provisions of this law, promulgating UAE Civil Code, govern the civil transactions in the United Arab Emirates. The commercial transactions remain subject to the laws and regulations applicable in their regard.
Dec 15, 1985
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Federal Decree-Law No. (31) of 2021 Promulgating the Crimes and Penalties Law 0
The provisions of this Federal Decree-Law No. (31) of 2021 Promulgating the Crimes and Penalties Law, known as the "New UAE Penal Code", governs criminal actions in the United Arab Emirates. The New Penal Code repeals the previous UAE Penal Code (Federal Law No. (3) of 1987 Promulgating the Penal Code).
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Federal Law No. (10) of 1992 On Evidence in Civil and Commercial Transactions 14
The provisions of this law On Evidence in Civil and Commercial Transactions (Law of Evidence) govern evidence in civil and commercial disputes in the UAE.
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