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How can the owners of a company revoke actions made by previous owners?

Dear Sir/Ma'am,

The previous owners of a company in the UAE granted a POA (on behalf of the UAE Company) to a foreign partner in KSA to open a company in KSA.

Now the owners of the UAE company have been changed. Do all previous owners have to sign if the company wishes to revoke the POA or the current owners can sign for revoking the existing POA issued on behalf of the company?

Please advise.

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Mohammed Bani Hashem

Mohammed Bani Hashem Advocates & Legal Consultants

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24 Aug 2021, 06:38

Dear Questioner,

Pursuant to the query, the old owners have to revoke the POA and the new owner can give the new POA.

Also, the new owner can send a mail indicating that the old POA will no longer be valid.

Further, we need to know your matter in detail t give you proper advice. If you have any queries, kindly contact us on the phone.

Thank You.

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How can the owners of a company revoke actions made by previous owners?