Questions & Answers
Questions & Answers
3 available 3 • View allAction against a business partner for failing to fulfil his obligations

3
Q: We are 2 partners in a technical services LLC company, it's 6 months old.
I paid some money to my partner to clear the instalment amount with setup consultancy which he didn't pay yet.
Also, he's not investing his share further comparatively my investment is more for setup.
He is still using the business license keeping me away (hiding), his phone is not reachable all the time, only contacting me on Whatsapp and telling lies.
Due to his untrustworthy, I would like to claim my investment and damages from my partner and need to withdraw my partnership.
Give me a solution.


Dec 14, 2019
1232
Non-payment of share value and claiming the shares back


1
Q: My company is located in Dubai as an LLC. We have two shareholders,
1. UAE national shareholder with 95%
2. A foreign shareholder with 5%
The UAE national shareholder transferred this 5% shares to the foreign shareholder through a share sales agreement, which was notarized at the notary public in Dubai and submitted it to the DED to amend the trade license etc. This happened in 2014.
But till this date, the foreign shareholder did not pay the value of 5% shares to the UAE national shareholder or to the company.
Also, the foreign shareholder was not actively involved with the company's operation and as per Article 17 of the Commercial Companies Law:
"2. The partner may not contribute in work rendered unless he is a joint partner. The contribution of the partner may not consist of his having reputation or influence."
Under these circumstances, is it possible for the UAE national shareholder to request from the court to cancel the 5% shares of the foreign shareholder and transfer back to him?



Oct 4, 2018
1276
Drafting an agreement with business partner for debt


4
Q: We have an LLC company in Dubai for the last 12 years. We have bank liabilities with one of the UAE banks for which our sponsor has given a personal guarantee.
To remove his personal guarantee he has agreed to make a partial settlement of the loan but needs confirmation from the company that when we win one of the arbitration cases and money which we get in Dubai court, he should have first right over that receivables from Court.
The receivable amount will be more than what he will pay to banks.
1) Can we create such an agreement and will Dubai court accept this?
2) What is the procedure we can do and give him the confidence to pay money to the bank?



Oct 29, 2019
563

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If I have a travel ban in KSA, can I travel to the UAE on a work visa? 10
Hi,
May you and your family be blessed.
I'm extremely tense and need your kind feedback on the following issue.
If I have a travel ban in KSA, can I travel to the UAE on a work visa?
I have been visiting Dubai on a tourist visa without any problems.
The ban was imposed because I had to leave KSA suddenly and could not return after an exit-entry, and I was unable to pay back my car EMI and credit card payment totaling 30k SAR, which I intend to pay off gradually now.
When I left KSA, they only had my fingerprints at the time. I also understand that while coming for a visit to Dubai, only a retinal scan is done.
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I have finally obtained a better-paying job after a long time and can finally save up to pay off my debts. The case registered for which the travel ban is imposed is only for SAR 16000.
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