How can I effectively terminate a partnership agreement?
October 31, 2023 | 40,00 EUR | answered by Christian Ahlert
Dear lawyer,
My name is Lilli Pasche and I am a shareholder of a GmbH. In our articles of association, it is stipulated that shareholders must adhere to a notice period of 6 months. Unfortunately, I have recently had disagreements with my co-shareholder on various management matters and now wish to exit the company. I am concerned about how I can effectively terminate the shareholder agreement without risking legal consequences.
There is currently a tense atmosphere between my co-shareholder and me, and I fear that a mutual resolution may not be possible. However, I want to act correctly and ensure that my withdrawal from the company is legally sound. I want to avoid my co-shareholder attempting to prevent my termination or potentially claiming damages.
Could you please explain to me how I can effectively terminate the shareholder agreement? Are there any specific formal requirements that I need to adhere to? What legal steps can I take to secure my exit from the company? Are there any alternatives to termination that may be more favorable for me?
I thank you in advance for your support and advice on this matter.
Sincerely,
Lilli Pasche
Dear Mrs. Pasche,
I thank you for your trust and your inquiry regarding the termination of your shareholder agreement in the GmbH. It is understandable that you are concerned in this situation and want to ensure that your withdrawal from the company is done legally.
First of all, it is important to know that the termination of a shareholder agreement in a GmbH is legally regulated. In your case, where a notice period of 6 months is specified in the articles of association, you must adhere to this period in order to effectively withdraw from the company. It is important that you notify your fellow shareholder of the termination in writing and within the agreed deadline.
There are no specific formal requirements that must be observed when terminating a shareholder agreement in a GmbH. However, it is advisable to put the termination in writing and deliver it to your fellow shareholder in order to have proof of the termination. Furthermore, you should ensure that the termination is done within the deadline to avoid legal consequences.
In case of disputes and a tense atmosphere between you and your fellow shareholder, it is advisable to seek professional legal advice. An experienced attorney specializing in corporate law can assist you in representing your interests and legally securing your withdrawal from the company. The attorney can also help you assess and appropriately respond to any potential claims for damages from your fellow shareholder.
There may be alternatives to terminating the shareholder agreement that are more favorable for you. An attorney can help you explore other options, such as selling your shares to a third party or restructuring the company.
Overall, it is important that you seek legal advice in this matter to protect your interests and legally secure your withdrawal from the company. Do not hesitate to contact me if you have any further questions or need additional support.
Best regards,
Christian Ahlert
Attorney specializing in corporate law
