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: One of the directors with a 16% share doesn't want to close the company. The Emirati with 51% and 2 other directors with 17% & 16% want to close the LLC. The license has expired 15 days ago. What to do now?

Q: We have a partnership owned LLC company in Dubai - 60% shareholder in Qatar, 20% me & 20% another sleeping partner (we both are signatories in Dubai). Recently, the sleeping partner holding the same share 20% has accused me of fraud in the company. He stopped my monthly remuneration and asked me to give away my phone and car. Now, he went to telecom and complained about a missing SIM, the number I have been using for more than 5 years. I have been a working partner for more than 12 years, and now I am suddenly sitting in my office forcefully. How can this be stopped legally?

Over the years the UAE has become a centre of trade and commerce for the Middle East, thanks to its strategic location, excellent connectivity and extensive services to assist with all aspects of business. According to the World Bank's 2016 report, the UAE has ranked 31st in the global index of ease of doing business. This encourages more entrepreneurs to set up different kinds of business entities in the country.

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.

للشركات كما للإنسان، دورة حياة. وحيث يبدأ الشيء، فلا بد له من نهاية، ولا باقي إلا الله. وإنه حيث نظم القانون نشأة الشركة، وعقد تأسيسها، فإنه كذلك لم يغفل تنظيم قواعد حلها وتصفيتها، ذلك لأن هذه القواعد بالغة الأهمية والحساسية، فهي تنظم طريقة أداء ديون كافة دائني الشركة، وتحصيل حقوقها، وتوزيع الأرباح أو الخسائر على الشركاء بعد بيان ما لها وما عليها. ونعرض في هذا المقال لهذه الإجراءات بحسب ورودها في قانون الشركات الإماراتي بإيجازٍ غير مخل.

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.