Questions & Answers
Liabilities toward the holder of a power of attorney
I have been appointed as a POA holder by the boss/owner of my company to act on his behalf.
He told us that he would help us in all the financial aid from USA (where he is residing) and we just need to run the operations here in the UAE.
However, it's been quite a while where we have not received any support /financial assistance from him and there are a lot of unpaid bills pending here.
I would like to know if I cancel my POA, can I get away from this mess or I will still be liable to pay and be penalized?
A POA can be cancelled/revoked by the executor at any time. Since you did not issue it, you have no authority to revoke it.
Your boss should cancel/revoke the POA. You will not face any issue unless you misuse it.
Misuse of the POA is a serious offence and a breach of trust or fraud case can be filed and tried both under criminal and civil procedures in court.
If you used the POA for any financial transaction based on which business was conducted, and if the POA is not valid for any reason whatsoever, you will still be accountable for the period you used.
