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  1. #1
    Join Date
    Jun 2012
    Location
    Colombo, Sri Lanka, Sri Lanka
    Posts
    2

    Default Can Rights Pertaining to a Share Be Transfered

    Company P is owned by A (the Current Majority shareholder) who owns 75% of the company, and the balance is owned by X,Y
    and Z who are the minority who own the balance 25%. The Minority shareholders file action against A for unfair prejudice
    and mismangement saying A was not operating to best interest of the company. Later B buys part of the A's shares and X,Y,
    and Z's shares and now becomes has controlling interest owning 51% and A owning the balance 49%. B now wants to continue
    the action filed by the previous minority shareholder against A. Can he do it.

    Basically what i need to know is that when shares are sold can the person buying it continue any litigation that those
    shares were enforcing.

    Someone please help me out with any source of law country does not matter.

    Thanks!!

  2. #2
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default Re: Can Rights Pertaining to a Share Be Transfered

    As you were told upfront, the nation's laws (and state's laws) very much matter. If you need help with a legal dispute occurring in Sri Lanka, we can't help you here. Our nation has different laws, and each state's laws governing corporations are also different.

  3. #3
    Join Date
    Jun 2012
    Location
    Colombo, Sri Lanka, Sri Lanka
    Posts
    2

    Default Re: Can Rights Pertaining to a Share Be Transfered

    ok assume that this is happening in the USA... how would it have to be dealt!!!

  4. #4
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Can Rights Pertaining to a Share Be Transfered

    Under the laws of whatever state is involved.

    Talk to a lawyer in whatever foreign country is involved.

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