Q: My name is W. S., I am a partner in a hospitality services company with 33% in Dubai. By delaying the operation, The managing partner is exhausting the capital of the company and driving the company to bankruptcy aiming to take it for himself. I sent him a timely legal notice to close the company and he did not react. I would like to know the cost of placing a lawsuit for “liquidation, compensation and refund of the paid amount in the company capital plus the interest“ against him along with the lawyer professional fees for this matter. I would like to be connected with a lawyer who is experienced in similar cases and who can handle this case.

Q: We are 2 partners in a technical services LLC company, it's 6 months old. I paid some money to my partner to clear the instalment amount with setup consultancy which he didn't pay yet. Also, he's not investing his share further comparatively my investment is more for setup. He is still using the business license keeping me away (hiding), his phone is not reachable all the time, only contacting me on Whatsapp and telling lies. Due to his untrustworthy, I would like to claim my investment and damages from my partner and need to withdraw my partnership. Give me a solution.

Q: I am a partner in an LLC company. Due to losses, the company funds are exhausted. In case there are dues to be given and one of the partners does not have the necessary funds, where does he stand? In case 2 of the 3 partners would like to leave the company, what are the options? The 3rd partner is unwilling to settle our dues which are stocks and machinery. He also does not want to pay a royalty of the company name. The company is 30 years in the business.

Q: There are two companies with similar names. There was a civil case filed against one company but the judgment is being executed against the other one due to a mix-up with the name.

س: السلام عليكم، لدي تعامل تجاري مع شركة الشكل القانوني لها شركة توصية ولدي منها شيكات. الشركة حاليًا مغلقة ورخصتها منتهية ولكن الشريك المخوَّل والموقِّع على الشيكات لا يزال موجودًا ولديه أعمال غير مرتبطة بالشركة. هل يمكن مطالبته بشكل شخصي أم أن المطالبة خاصة بالشركة كون الشيكات صادرة من شركة التوصية والتي كان شريكًا بها؟

Q: Dear sir/madam, We have 5 partners in a recently opened company. Two partners are dishonest and are not reporting properly to the company. We (the other 3 partners) want to terminate them on the basis of their wrong practice. What are the probable ways?

Q: Dear Lawyers, I have a company in Sharjah FZ. I hold 51% shares and my partner holds 49% shares. I am the director, manager, and the sole beneficiary of the company bank account. We are both now under the company visa. I, as the business owner, demand a few things for him to provide before he can benefit from the company. The point of the agreement is: - The new shareholder needs to provide business development capital for AED 145,000, payment will be on several terms. Since I made the change on the license and put him under the company visa, he has been delaying paying the capital. I have been chasing him through messages and phone calls, but he is still not responding. This made the cash flow of the company a mess. 1. What legal step can I take to take him out of the company and seek compensation for the mess he made with the company? 2. Will it be better for me to file bankruptcy or to fight the legal action against him? Thank you so much, appreciate your answer!

س: السلام عليكم، أنا شريك في شركة عائلية (ذ.م.م) تتكون من ٨ أشخاص. حدث اختلاف بيني وبين الشركاء. طلبت الميزانية الختامية فرفضوا. راجعت مكتب التدقيق وطلب مني فرصة يوم وبعدها اعتذر. ما العمل لكي أحصل عليها؟

The UAE continues to strive to modernize its laws and create more flexibility in meeting the needs and requirements of investors and businessmen and elevate its economy to the highest levels of growth and development.

Companies can be wound up by Voluntary Liquidation. This shall proceed as initiated by shareholders or creditors of a company by passing a valid shareholder’s resolution. When a company’s financial mechanism fails, and the company is in financial distress and/ or becomes insolvent whereby it is unable to pay off its debts, the company may file a petition for winding up to the court.

The provisions of this Law apply to the commercial companies established in the UAE and the foreign companies that have established in the UAE a base to conduct any activity therein or established a branch or representative office. The Law abrogates Federal Law No. (8) of 1984 Concerning Commercial Companies.