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I have invested money, time & hard work. Please advise what should I do.


Question:

My business partner who is also a manager in the company has thrown me out. He has deactivated my company email as he is admin on domain. Also he has changed Company Office & Warehouse locks without giving me new key. He is not giving me any visibility of company sales & profits. He is signing authority on Bank account & cheques including ebanking. As per MOA we both have equal shares in the company 40% each, balance 20% to UAE national as per moa. On Trade licence, local partner has 51%,my business partner has 25%.I have 24% share. This is a UAE mainland LLc company. I have fear he is using company account as his personal account & may get liabilities on Company. Also he may not renew Trade licence or shut down company swiping all company funds & stocks from Warehouse. Upon confrontation few months ago he told me he does not want any partner in Business,he keeps on delaying giving clarity on amount & when he will pay me. I have invested money, time & hard work. Please advise what should I do.

Answer:

In light of your situation, you may consider filing an expert appointment case to determine the profits of the business and your entitlements. Moreover, if your partner has profiteered from the business, you may also consider filing a criminal case of breach of trust and seek a compensation claim against him. It is advisable to consult a legal consultant who will guide you on how to handle your matter.

Should you have any questions, please do not hesitate to contact us.

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