How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Ash Your Own Question
Ash
Ash, Solicitor
Category: Property Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
75100385
Type Your Property Law Question Here...
Ash is online now

If in a pvt.ltd.co. the directors of the company have allegedly

Customer Question

If in a pvt.ltd.co. the directors of the company have allegedly conspired to siphon off the assets , can a large minority sharehoder ( 27% ) but who is not involved in the running of the company file file charges under malfeasance/misfeasance?
Submitted: 3 years ago.
Category: Property Law
Expert:  Ash replied 3 years ago.

Alex Watts :

Hello my name is Alex and I will help you with this. Please note that I am a working Solicitor and may be on and offline as I have to attend Court and meet with clients, even at weekends. As such you may not get an instant response when you reply as this is not an ‘on demand’ live service, but rest assured I will be giving your question my immediate attention upon return. There is no need to wait here, you will get an email when I reply.

Alex Watts :

Yes there is nothing to stop the 27% shareholder issuing proceedings and even complaining to the Police

Alex Watts :

Can I clarify anything for you about this today please?

Customer :

Could you cite the name of the statutes and the section under which I can start proceedings?

Alex Watts :

It would be breach of contract so common law

Alex Watts :

And I suspect under the Companies Act 2006

Alex Watts :

It could also be in negligence which is also common law

Alex Watts :

Does that help?

Customer :

Could you be more specific and cite the sections ?

Alex Watts :

The Companies Act 2006 has 1300 sections.

Alex Watts :

It is beyond the remit of this site (which is for general questions and answers) to undertake legal research for you.

Alex Watts :

But you can visit: http://www.legislation.gov.uk/ukpga/2006/46/contents

Alex Watts :

This is the complete Act.

Alex Watts :

Can I clarify anything else for you today please?