Expulsion of a Shareholder from a Limited Liability Company on Substantial Grounds

Abstract

Abstract The present article is devoted to the research on the admissibility of expulsion of a partner from a limited liability company (LLC) based on the ground that is not envisaged in the charter, and on respective dogmatic normative grounds in Georgian law. The importance of research in legal studies and judge-made law1 is revealed in the fact that the situation in which the action of a partner is directed against the interests of the company and becomes an obstacle for the achievement of a common goal, and it becomes impossible to retain the partner remains outside of Georgian normative reality. The aim of the research requires an analysis of German law, assimilated in the context of the Georgian solution, as well as the description of civil legal grounds for exclusion and prerequisites for admissibility, a study of the legal nature of the society and dogmatic support to the application of the civil law regime for the termination of long-term contractual relations. The suggested Georgian solution in this matter shares the spirit of German law policy; however, it is outstanding in its individuality.