Questions & Answers
Questions & Answers
5 available 5 • View allResponsibility of partners for bounced cheques signed by the company manager
17
Q: Do the local sponsors have financial responsibility for bounced cheques from the company that they are sponsored?
If I got cheques but they were bounced and the person who signed the cheques (managing director) left the country. Company is in labor zone, retail, 2 operating shops.

Jul 26, 2017
15753
Partners liability for bounced cheques issued by the director
0
Q: I am a 49% shareholder in a 10-year-old LLC Company. We have a separate Managing Director that has no shareholding in the company.
I was out of the country for an extended period of 5+ months and recently returned to the UAE. 2 weeks after my return, I discovered that salaries had not been paid to staff for the month of July.
I queried the Managing Director who was away on annual leave at the time. He told me the company was expecting money in.
I then checked with the accountant who told me the company financials were in a dire situation and updated me on receivables and payables. The Managing Director then proceeded to serve 4 weeks notice to resign.
After this, I discovered that several company cheques that he had written to suppliers had bounced and were in fact PDC's, some of which had been issued several months ago.
My questions are:
1. What recourse do we have against the MD for these liabilities?
2. What would be our best course of action to minimize shareholder liability?

Aug 21, 2018
2023
Liability for bounced cheques in case of joint signatory authority
4
Q: I was a partner in a company with joint signing authority for the bank account. I sold my share and the memorandum of association changed. However, due to some reasons or busy schedule, I could not change my signing authority from the bank.
My partner issued me a letter that for all released cheques, he will be responsible. Now, in the current situation, some cheques are bounced and police called me.
Please advise, what should I do? Will this letter and change in memorandum protect me?
My partner is still accepting his liabilities for all bounced cheques but he has no money to settle, and I am stuck. Kindly advise.

Dec 18, 2017
1742
الوضع القانوني للشيكات التي أصدرها مدير سابق للشركة



2
س: غُيِّر المدير بشركة ذات مسؤلية محدودة وكان لديه صلاحية التوقيع على الشيكات. عُيِّن مدير جديد والآن أصبح توقيع المدير السابق غير مُعتمد رسميًا بالبنك.
ما وضع الشيكات التي تم توقيعها سابقًا بواسطة المدير السابق؟
ما الآلية القانونية للتعامل مع أصحاب الشيكات؟
علمًا بأننا كشركة ملتزمة بجميع التعاملات التي تم توقيعها سابقًا.




Apr 27, 2020
1179
مسؤولية الموظف عند إصدار وكالة خاصة له لإدارة الشركة أثناء سفر المدير

0
س: السلام عليكم،
أنا موظَّف بشركة ذات مسؤولية محدودة ولست شريكًا ولا مديرًا. قام المدير بعمل وكالة خاصة لي لإدارة الشركة أثناء سفره خارج البلاد.
مَن المسؤول قضائيًا أمام المحاكم في حال واجهت الشركة قضايا مدنية؟
هل أنا مسؤول؟
وفي حال لم أكن مسؤولاً، هل يمكنني الحضور أمام المحكمة بدلاً منه دون محاسبتي شخصيًا؟


May 7, 2020
471
Laws & Regulations
2 available 2 • View allFederal Law No. (3) of 1987 Promulgating the Penal Code 29
This Law promulgates the Federal Penal Code (Criminal Law) of the United Arab Emirates. Crimes and chastisement punishments shall be determined in accordance with the provisions of this Law and other penal codes.
Dec 8, 1987
47926
Federal Law No. (2) of 2015 On Commercial Companies 15
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.
Mar 25, 2015
29550

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