DCC 142/2011
Key Legal Questions in the Judgment
- What are the procedures for referral for dissolution of a company?
- What is the practice of activities by a company?
Background Facts
The Appellants filed suit No. 1019/2009 requesting the court to appoint a financial expert to review the accounts of a company and determine the amount of losses on the basis the Defendant was a limited liability company established under commercial license No. 234997 issued by the Department of Economic Development in Dubai and the Plaintiffs were partners in this company and each had 7.30% of the company's shares. However, since its establishment, the company had not exercised the activity described in its license and had not renewed its license since its expiration on 5-7-2004. There had also been a depreciation of all of the company's funds
Proceedings
Court of first instance - Decision dated 21/7/2010: