Friday, April 23, 2010
Witdrawing from private limited company
Two friends and I invested some money and incorporated a Sendirian Berhad. A fourth person who is a relative of the other two was appointed as an employee and the relationship between the two directors and myself has deteriorated. I wish to withdraw from the company but the two of them wish to pay me only what I paid as initial capital. The business has grown and I feel I should be able to enjoy part of the growth. How do I go about getting my dues from the company if I resign as a director and from the business?
Subscribe to:
Post Comments (Atom)
Since you are outnumbered 2-1 in the board of directors, it is going to be difficult to get a fair share of the current value of the company as a voluntary winding up of the company is out of the question. The other 2 directors will not approve it. If you are holding a smaller portion of the company's shares compared to the two directors, you may try your luck winding up the company under the basis of the oppression of the minority shareholder. Not easy and costly in terms of legal fees. However, by initiating such a suit, you may force the other two directors to pay you a fair share of the company's worth if they still see some potential in the company. However, they could always resist your suit and any subsequent relationship with them will definitely deteriorate even further after the suit. Weigh whether it's worthwhile going for the extra bit which you feel you are entitled to against the already agreed repayment of your initial capital.
ReplyDeleteThanks for the tips guys. They were all great. I have been having issues with being fat both mentally and physically. Thanks to you guys i have been showing improvements. Do post more. business plan consultant
ReplyDeleteYou have a great sense of writing I must say. Your post has those facts which are not accessible from anywhere else. It’s my humble request to u please keep writing such remarkable articles 英国论文代写
ReplyDeleteWhoi, excellent, t wondered just how to cure icne. ind found your webstte by google, dtscovered todiy t'm i ltttle obvtous i greit deil. t’ve ilso idded RSS ind sive your webstte. keep us updited. tazminat hesaplama
ReplyDelete