Matt199 Posted September 29, 2020 Share Posted September 29, 2020 Hi guys, Long story short, I co-founded a Thai Limited company with a foreign business partner. Our 51% shareholder is Thai and she's a girlfriend of my business partner. Sadly, the relationship did not last, ended quite sour, and she wants out asap. 1) What is the worst she can do? 2) How can we quickly find someone and how much should it cost? I sent out few emails to lawyers but no reply yet; want to understand price range as well Thanks, Matt Link to comment Share on other sites More sharing options...
baansgr Posted September 29, 2020 Share Posted September 29, 2020 Regarding cost...when people have transferred companies by selling their properties, lawyer costs were usually about 15K...you are pretty much just doing the same with taking her off and adding another Thai. I would contact the lawyer that set the company up for you if at all possible. Link to comment Share on other sites More sharing options...
LogicThai Posted September 29, 2020 Share Posted September 29, 2020 Besides the obvious issue of nominees being illegal (about which the lady is as vulnerable as the other shareholders), another element to consider is the voting rights attached to the shares. It also depends who are the directors, and who has the power/voting rights to appoint/fire them. Are all shares ordinary? In which case, as 51% shareholder, she can do pretty much anything she likes with the company. If although the majority shareholder, her shares are privileged and have limited voting rights (usually in exchange for a better remuneration), she cannot do much. So much so that even she wants out APAS, the other shareholders could just ignore her. No matter what, it is a delicate situation, that needs to be managed carefully. 1 Link to comment Share on other sites More sharing options...
Leaver Posted October 9, 2020 Share Posted October 9, 2020 Depending on the value of the Thai company, you, and your foreign partner's safety, should be your first priority. Link to comment Share on other sites More sharing options...
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