Help: We want to shut our firm, but partner is missing

Help: We want to shut our firm, but partner is missing

Moreover, according to Article 678 of the Civil Transaction Law, any interested party may apply to the court to appoint one or more liquidators to carry out the liquidation and partition the company. There are also decisions taken by the Dubai Higher Court of Rights Cassation No. 271/2002. The liquidation of the company shall be based on its request, or the request of one of its partners. It shall be liquidated by taking an inventory of its assets, stating its rights and obligations, and dividing the money resulting from the liquidation among the partners in proportion to the share he paid in the capital, so he gets his share of the profit and bears his share of the loss.

The court may also, according to Article 676 of the Civil Transaction Law , on the demand of any one of the partners, order the dissolution of a partnership for non-performance by a partner of his obligation, or for having caused a serious damage to the partnership as a result of his management.

Help: We want to shut our firm, but partner is missing