What is the right to sell and redeem shares in the Limited Liability Company?

The right to sell and redeem shares in the Limited Liability Company is divided into two types:

First: The right to sell and redeem the pledge. If a partner wishes to sell an actual share, he shall notify the company with a letter recommended by the company to obtain the company’s headquarters with the desire to sell and the price specified for the share wishing to sell. There shall be a period of one month before the partners’ group to use the right of redemption and buy the share sold In case of multiplicity of partners wishing to buy from the partners, the share sold shall be divided according to their shares. If one of the partners does not submit the purchase order, he has the right to sell it to others after the end of the month from the date of the notifications.

Second: The right to sell and redeem a portion of the sale of reparation in the event that if one of the partners takes action to sell the debtor’s share in order to complete a debt, the creditor must declare the company on the sale terms and the date of the session. If the creditor, the debtor partner and the company do not agree to sell, the sale order shall be valid if the company submits to another buyer the same conditions as the auction within ten days from the date of the sale.

A limited Liability series from top corporate lawyers in Egypt.

CategoryCorporate Law
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