The Thailand Forum

The Thailand expat forum for Travel, Lifestyle and Fun.



Welcome to the TeakDoor.com The Thailand Forum.

You are currently viewing our boards as a guest which gives you limited access to view some discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today!

If you have any problems with the registration process or your account login, please contact us

TeakDoor Advertising Rates

Forum Home Donate Arcade Chat Room Gallery Blog Mark Forums Read
Go Back   TeakDoor.com - The Thailand Forum > Living And Legal Affairs In Thailand > Doing Things Legally
Home Register TD Links FAQ Members List Calendar Weather Search Today's Posts Mark Forums Read

Doing Things Legally This is for people with Thai work permit questions and queries from people wanting to start a business in Thailand. How can you make enough money to afford to live here? Will the BOI give you privileges? What documents do you need to work in Thailand? Thai taxes, Thai work permit renewal and Thai business registration.

Thai Dating  Savile Row Fashion Bangkok

Advertise on TeakDoor

Reply
 
LinkBack Thread Tools Search this Thread Display Modes
Old 03-02-2012, 01:27 PM   #1 (permalink)
Member
 
Last Online: 26-01-2013 09:04 PM
Join Date: Nov 2011
Posts: 225
Jon Snow Thailand ExpatJon Snow Thailand ExpatJon Snow Thailand ExpatJon Snow Thailand ExpatJon Snow Thailand ExpatJon Snow Thailand ExpatJon Snow Thailand ExpatJon Snow Thailand ExpatJon Snow Thailand ExpatJon Snow Thailand ExpatJon Snow Thailand Expat
What to do when a company director dies

Friend of mine asked me these questions but I could not help him.

Anybody Know? –
What procedures kick in under Thai law when a director of a company dies?
What happens to his share of the company?

Case in point:
Director is a foreigner in a Thai company.
Director has been estranged from his lawful wife for 10 years. No kids.
Wife turns up 2 years after his death with a 30 year old will and wants his share.
Wife is from UK also.
When the director died, (in UK), the company contacted his kin – brother,
and sent his gear back to the UK.
The brother knew of his involvement in the Thai company but did not pursue any claim.

A while after the death of the director the company asked their Thai lawyer what should be done.
His advice was that under Thai law the company has to put a notice in a Thai newspaper for 30 days and request claims and state that the director’s name will be removed from the company documents, which they did.
They feel that there must be more to it than that.

I am told that if the wife was living with him at the time of death or if they where apart but on good terms then the other shareholders would have no problem giving his share to her, but as he was separated for 10 years and, they believe would not want her to have his share, they are reluctant to do this.

Are they being kunts or do they have a point and where do they stand legally?
__________________
You know nothing Jon Snow.

Last edited by Jon Snow : 03-02-2012 at 01:38 PM.
Jon Snow is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiTweet this Post!
Reply With Quote
Sponsored Links
Thailand Company Registration
Gods of Thailand
Bangkok Escort
Old 04-02-2012, 03:04 PM   #2 (permalink)
Thailand Expat
 
William's Avatar
 
Last Online: 19-05-2013 06:37 AM
Join Date: Jul 2005
Location: In jail
Posts: 5,826
William Thailand ExpatWilliam Thailand ExpatWilliam Thailand ExpatWilliam Thailand ExpatWilliam Thailand ExpatWilliam Thailand ExpatWilliam Thailand ExpatWilliam Thailand ExpatWilliam Thailand ExpatWilliam Thailand ExpatWilliam Thailand Expat
Sorry if this sounds wrong, but a director of a company is not, per se, a shareholder.

I do agree that you may hold both roles, but under Thai [or any] law, they are separate roles.

As such, there are different rules for both roles.

PS - I can answer your questions - but it would cost you upwards of 150,000 baht (based on the information you have given)
William is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiTweet this Post!
Reply With Quote
Old 04-02-2012, 04:17 PM   #3 (permalink)
Thailand Expat
 
aging one's Avatar
 
Last Online: 27-07-2014 11:37 AM
Join Date: Nov 2005
Posts: 11,646
aging one Thailand Expataging one Thailand Expataging one Thailand Expataging one Thailand Expataging one Thailand Expataging one Thailand Expataging one Thailand Expataging one Thailand Expataging one Thailand Expataging one Thailand Expataging one Thailand Expat
Send a message via MSN to aging one
Quote:
Originally Posted by William
Location: In jail
No wonder you are in jail you are a frigging thief. Hope all is well mate.
aging one is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiTweet this Post!
Reply With Quote
Old 05-02-2012, 12:28 PM   #4 (permalink)
Newbie
 
Last Online: 30-07-2013 05:04 PM
Join Date: Nov 2011
Posts: 22
InKorat is just really nice on this Thai ForumInKorat is just really nice on this Thai ForumInKorat is just really nice on this Thai ForumInKorat is just really nice on this Thai ForumInKorat is just really nice on this Thai ForumInKorat is just really nice on this Thai ForumInKorat is just really nice on this Thai ForumInKorat is just really nice on this Thai ForumInKorat is just really nice on this Thai ForumInKorat is just really nice on this Thai Forum
My best guess from past experience.

The company would call a extra ordinary meeting and pass a resolution to remove his name as a director in the company records. They may also appoint a new director, if they have a quoram.

The shares are his personal property and normally someone is appointed by the embassy or court to sort this out. Once that is done and they have a legal document showning who has right of inheritance, plus the death certificate, the share transfer can be arranged.
InKorat is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiTweet this Post!
Reply With Quote
Old 07-02-2012, 04:27 PM   #5 (permalink)
Thailand Expat
 
William's Avatar
 
Last Online: 19-05-2013 06:37 AM
Join Date: Jul 2005
Location: In jail
Posts: 5,826
William Thailand ExpatWilliam Thailand ExpatWilliam Thailand ExpatWilliam Thailand ExpatWilliam Thailand ExpatWilliam Thailand ExpatWilliam Thailand ExpatWilliam Thailand ExpatWilliam Thailand ExpatWilliam Thailand ExpatWilliam Thailand Expat
Quote:
Originally Posted by aging one View Post
Quote:
Originally Posted by William
Location: In jail
No wonder you are in jail you are a frigging thief. Hope all is well mate.
hahahahahahaha - cheap at twice the price mate!
William is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiTweet this Post!
Reply With Quote
Old 08-02-2012, 11:23 AM   #6 (permalink)
Newbie
 
Last Online: 20-05-2012 03:17 PM
Join Date: Feb 2012
Location: Pattaya
Posts: 20
OldNick Should Have Been Banned By NowOldNick Should Have Been Banned By NowOldNick Should Have Been Banned By NowOldNick Should Have Been Banned By Now
Wouldnt the Directors have to hold a meeting to decide/vote in these circumstances surely?
OldNick is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiTweet this Post!
Reply With Quote
Old 09-02-2012, 03:01 PM   #7 (permalink)
Thailand Expat
 
William's Avatar
 
Last Online: 19-05-2013 06:37 AM
Join Date: Jul 2005
Location: In jail
Posts: 5,826
William Thailand ExpatWilliam Thailand ExpatWilliam Thailand ExpatWilliam Thailand ExpatWilliam Thailand ExpatWilliam Thailand ExpatWilliam Thailand ExpatWilliam Thailand ExpatWilliam Thailand ExpatWilliam Thailand ExpatWilliam Thailand Expat
^ why? Directors run a company not a marriage.

There are so many issues with this, not least of which is that, under Thai law, there is no concept of "estranged" - legally or otherwise. Just like there is no concept of "common law wife/husband" - and why should there be in a civil law country.
William is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiTweet this Post!
Reply With Quote
Reply


Register Forum Home Donate FAQ Members List Calendar

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

TeakDoor Advertising Rates

All times are GMT +7. The time now is 07:44 PM.


Powered by vBulletin®
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
SEO by vBSEO 3.5.2 PL2
Copyright 2005 - 2013 by TeakDoor.com
Page generated in 0.11998 seconds with 22 queries