Thai Law Siam Firm | There are some
businesses where there are many shareholders and the managing directors do the
way they want and not care about the other shareholders and even can embezzle
the company’s money away to his own and then the minority shareholder submit
the case to the court against them, why the company still run the business if
you do this way the court will terminate your case and say that the company
still running the business you have to use the limited partnership,company
limited law and Thai work permit to sue them, on
that law you cannot request for any money back from the company or the managing
director if you do not plan to close the company and share the money together.
If the company keep running the business the way to do is the management way
like arrange to set up the meeting and use the resolution of the meeting to do
something on that purpose, so why we are minority we never have the chance to
vote against the majority so then please be careful about if you run the
business as the partnership of someone if you cannot come to be majority of the
company you have to make sure that those person that you join with them they
are good person, you can trust them, you can keep your investment with them and
this is the business way. In every detail in the court they have the laws to
support, you have to make sure that your lawyer understands about that law
include Thai work permit very well or not. And
the commercial law for the company setup or the company changing is the very
specialized for the experienced lawyer only to understand. If you want to use
someone you have to question them you have to check them they got the
experience on this thing or not because there are a lot of details on that
purpose it not seem to be every lawyer can make it. Example a business lawyer
because They also have known about Thai work permit.
Lawyer comment: not
so many lawyer spend the time to set up company by Thai
work permit knowledge
and especially the business for the
foreigner, some of the person never set up the company for the foreigner at all
they don’t know how to set up the preference and ordinary share, they don’t
know how the nominee shareholder work and without Thai work permit knowledge
, that is why they cannot do proper to request the money back for you. You will
waste the time in the court waste the money for the court fee and waste the
money for the lawyer fee. Actually one that we have the problem with the
managing director or the majority shareholder we have enough problem, don’t do
the thing like create more problem after you can get the chance to release
yourself of that company and get return the money back from that company. On my
experience one that I take care of the foreigner who come to be the victim in
the company with the Thai shareholder or with other foreign shareholders we
recommend them to start the case both civil to request for the money and
criminal to enforce the company to return back the company. If not they can get
imprisonment or pay fine
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