Posted by
johnlonz
12 yrs ago
Hi guys, I have set up the following hong kong registered company with some friends. Here are the shareholding position of the company:
John: 34%
Mary: 33%
Carl: 33%
Now, there is a clause in the rental agreement that say "... Majority shareholder should bear...". I want to know whether our company has what they call "majority shareholder"
I try to google "majority shareholder" and it say it is someone that has 50% or above share of the company. Do that mean this clause doesn't apply to our company?
If it does apply to us, who is/are liable in this case? Everyone?
Thanks in advance guys!
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None of you hold a majority of the shares, so the answer is NOTA. Liable for what? If your company signed the lease then the company is the responsible party. There may even be a guarantee signed by the directors. But to hold the shareholders liable for the act of the company... well that's a stretch. You need to consult a lawyer to review the particular details of the contract documents.
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