Legal Question in Business Law in United Kingdom
Liquidation of a limited company
Please could you tell me whether a majority share holder within a limited company can liquidate that company without the permission of the other share holder 60 / 40 split
Many thanks Michael u.k
Asked on 10/15/01, 5:05 pm
1 Answer from Attorneys
Bryan Whipple
Bryan R. R. Whipple, Attorney at Law
Re: Liquidation of a limited company
If the company were in California it would depend upon its bylaws. If the bylaws were silent on the question, the majority could liquidate but the rights of the minority would have to be scrupulously protected, perhaps including an independent appraisal of the value of the minority interest.
Answered on 11/22/01, 5:14 am
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