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Director Allocating Shares to Himself

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  • Director Allocating Shares to Himself

    A company was owned 100% by A. A died in 2021. In 2018, Director B was appointed but was never given any shares.

    Upon the death of the sole shareholder, B notified Companies House that A had resigned and then proceeded to unilaterally transfer the shares owned by A (which should, of course, have formed part of A's estate) to himself. B now proudly boasts that it is his company.

    Can anybody tell me which statutes have been breached, is it a criminal act, and, what is the remedy?
    Tags: None

  • #2
    A's executors and heirs appear to have a claim against B for return of the shares.

    This also appears to be theft; and the transfer of shares possibly fraudulent.
    Lawyer (solicitor) - retired from practice, now supervising solicitor in a university law clinic. I do not advise by private message.

    Litigants in Person should download and read the Judiciary's handbook for litigants in person: https://www.judiciary.uk/wp-content/..._in_Person.pdf

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