TOMASZ PRZYBECKI
12-04-2021

Withdrawal of a partner from a registered partnership and related settlements

One of the law firm’s current cases is a case involving the withdrawal from a general partnership of one of its partners and the realization of his claims as a result.

In fact, the withdrawing shareholder is entitled to demand payment of profit from the company’s activities for past years, which has not yet been settled with him, and he may also demand participation in the profit from unfinished business, and in this regard he is entitled to demand explanations, accounts and distribution of profit at the end of each fiscal year. The settlement of the capital share of the withdrawing shareholder is also an important issue.

According to Article 65 of the Code of Commercial Partnerships and Companies, when a partner withdraws from the company, the value of the partner’s capital share shall be determined on the basis of a separate balance sheet that takes into account the transferable value of the company’s assets, and the last day of the fiscal year in which the termination period expired shall be taken as the balance sheet date.

In a situation where the withdrawal of a partner from the company is the result of a conflict existing in the company, most often one cannot count on the cooperation of the company, which refuses to prepare the said balance sheet or restricts the former partner’s access to the company’s accounting documents, on the basis of which he could have the balance sheet prepared.

It then becomes necessary to take the matter to court in order for the withdrawing shareholder to obtain the benefits owed to him by the company. The firm, working with a certified public accountant, offers assistance in both pre-litigation negotiations and litigation before the court.