Questions & Answers
Dividing company shares among partners while one of them refuses
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.
Dear Client,
Good day!
First, you have to call for a Board Meeting according to Corporate Commercial Law.
After that, the resolution will be passed in the meeting and you can proceed to file in the court asking for an auditor to be appointed to check into the audit in the company and divide the assets for the partners.
For further assistance, please feel free to contact us via phone or email.
Thank you!
