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Dispute in Private/Family Company: windup procedure?
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Jun 5, 2017, 5:35:03 AM6/5/17
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Commonly, disputes in a small family held company, are resolved by
a winding-up order.
Surely it's not for the majority controllers to do their own
winding-up, and transfer the assets to their own back-pocket company.
I would expect the winding up to be controlled/supervised by the state;
like a will is executed in a controlled manner.
How does it work?
Eg. to ensure that the major assets are sold at market related prices
and the residual is distributed to the shareholders pro-rata.
==TIA.
a winding-up order.
Surely it's not for the majority controllers to do their own
winding-up, and transfer the assets to their own back-pocket company.
I would expect the winding up to be controlled/supervised by the state;
like a will is executed in a controlled manner.
How does it work?
Eg. to ensure that the major assets are sold at market related prices
and the residual is distributed to the shareholders pro-rata.
==TIA.
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