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Corporate litigation lawyer. Exclusion of a shareholder in Romania
The procedure of exclusion of a shareholder in Romania is expressly regulated by Law no. 31/1990 on companies. Given the numerous and varied situations where arise misunderstandings between shareholders in Romania, it’s common to seek the services of a commercial litigation lawyer in Romania for the exclusion of shareholders from a LLC in Romania, including cases involving inefficient management by a shareholder and administrator in Romania. The Romanian Law Firm Pavel Margarit and Associates recommend consulting a commercial attorney in Romania who can analyze cases of exclusion shareholders from a LLC in Romania and provide optimal solutions for each particular situation.
Commercial attorney in Romania. The legal basis for the exclusion of a shareholder in Romania
According to the provisions of Article 222 of Law no. 31/1990 on companies, a shareholder or a shareholder and administrator in Romania can be excluded from a general partnership, limited partnership or limited liability company in Romania in the following cases:
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- The shareholder who, in default, fails to contribute as obligated;
- The shareholder with unlimited liability who is bankrupt or legally incapacitated;
- The shareholder with unlimited liability who unlawfully interferes with administration or violates the provisions of Articles 80 and 82 of Law no. 31/1990;
- The shareholder and administrator in Romania who commits fraud to the detriment of the company or misuses the company’s signature or capital for his or others’ benefit.