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Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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Hello Again, as he has run out of money and cannot find further

Customer Question

Hello Again, as he has run out of money and cannot find further investment could he close the Ltd Company down? If so can i stop it, or what would happen to my 15% shares in the LTD Company ? Thank you as I suspect he may go down this route if no funds are raised.
Submitted: 3 years ago.
Category: Law
Customer: replied 3 years ago.
Relist: I still need help.
Expert:  Ash replied 3 years ago.
Thanks for asking,
He can't dilute your shareholding, only his. But that means you still retain your 15%
Does that help?
Customer: replied 3 years ago.

OK but can he close the LTD Company as it is at standstill and as he cant/hasnt raised any more funding he has stated he needs to earn money to survive, hence may take a job/employment.

Expert:  Ash replied 3 years ago.
Yes potentially I am sorry.
But that is why it is important to have a shareholder agreement.
I am sorry.