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, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
Type Your Law Question Here...
Ash is online now

Me and my sister are both owners of a limited company

This answer was rated:

Me and my sister are both owners of a limited company nr 06866086. It has a dormant status, only its polish branch is active.
Unfortunately, my sister started stealing from this company. With no permission from my side she registered one of vehicles that belongs to company to her son. She will have a case in a court.
To take a revenge she is now threatening me with a closure of UK's company. Without it polish branch cannot operate. She is telling me that with one move she can liquidate this UK's company? Is this true? How can I stop her?
Hello my name is ***** ***** I will help you.No, this is not correct. It will need a majority decision at a properly called EGM to pass a resolution to stop trading. Just because its dormant does not mean you can liquidate it.In any event she can only liquidate if you are insolvent, ie it cant trade because it owes more than it has in assets.So no, she cant liquidate in one go.Can I clarify anything for you about this today please?Alex
Ash and other Law Specialists are ready to help you