Retiring Shareholders

Contact Neufeld Legal PC at 403-400-4092 / 905-616-8864 or Chris@NeufeldLegal.com

Retiring from one's company when one is also a shareholder can prove problematic where the unanimous shareholders agreement is either inadequate or non-existent. As such, it is essential that you understand the implications of retirement on your share position and whether or not additional negotiations are required to facilitate the divestiture of your shares, of it is your intention to sell your shareholding at an appropriate sale price.

Failing to undertake appropriate prepatory review and action can have serious consequences, especially as it pertains to the sale price of your corporate shareholding. For without the appropriate legal mechanism by which to divest your corporate shareholding, you could be saddled with those shares for a considerably long period of time or find yourself selling your shares for far less than what they are worth, simply because you lack the means to get an equitable sale price.

Retiring from the company that you partly own should not cause you consternation, nevertheless, that can easily be the case in the absence of adequate legal protections and legal representation.

For knowledgeable and experienced legal representation in advancing your prospective or current shareholdings, while protecting your position as a shareholder, contact us at 403-400-4092 [Alberta], 905-616-8864 [Ontario] or Chris@NeufeldLegal.com.

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