The abandonment right or relinquishment right is the right of a partner of a limited company (GmbH), to make its business share available if it can not fulfill an obligation for '' unrestricted '' additional payment or wants.

Differently than with a limited liability to pay an additional amount, whose default when continuing the obligation to perform entails the exclusion of the defaulting partner (so-called Kaduzierung), specified in the articles of association, is not foreseeable for the partner with existence of an unrestricted liability to pay an additional amount, in which height it is taken in the future in requirement. A sanction as with the injury of a limited liability to pay an additional amount would be inappropriate for this reason, why "§ a relinquishment right grants 27 GmbHG to the partner.

The partner must make thereby the business share available within a monthly after the request to the additional payment the society. If it does not carry the additional payment out and if it does not make available also the business share, then the society has the possibility of explaining to it by means of writings that it regards the business share as for the order posed (fictitious relinquishment). Then the public auction of the business share must take place within a further monthly. If the sale succeeds to the auction in the framework, then proceeds are entitled to the society at height of the demand for additional payment. A possibly remaining surplus is entitled to the partner. If the auction remains unsuccessful, then the society acquires it for the free order.

Articles in category "Abandonment right"

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