In a GmbH, it may be necessary or desirable in certain situations to exclude a shareholder from the company - especially against his will. This process, the exclusion of a shareholder, is a complex legal issue that must meet special legal and case-law requirements and also requires provisions in the articles of association. This blog post takes a closer look at the legal framework, the requirements and the consequences of an exclusion.<\/p>\n\n\n\n
Der Ausschluss eines Gesellschafters aus der GmbH ist grunds\u00e4tzlich nur unter bestimmten Voraussetzungen m\u00f6glich. Diese Voraussetzungen k\u00f6nnen im Gesellschaftsvertrag der GmbH n\u00e4her festgelegt sein und sich zus\u00e4tzlich aus den gesetzlichen Bestimmungen und der Rechtsprechung ergeben. Ein Ausschluss kann erstens nur dann erfolgen, wenn ein wichtiger Grund vorliegt, der das Vertrauensverh\u00e4ltnis zwischen den Gesellschaftern irreparabel besch\u00e4digt und den Gesellschaftern deshalb die Fortsetzung des Gesellschaftsverh\u00e4ltnisses unzumutbar macht. Zweitens ist ein wirksamer Gesellschafterbeschluss erforderlich \u2013 hierbei ist sehr sorgf\u00e4ltig vorzugehen. Drittens ist dem ausgeschlossenen Gesellschafter eine severance pay<\/a> All three conditions \u2013 important reason, effective shareholders\u2019 resolution and the amount of the compensation \u2013 regularly spark disputes. To a certain extent, these disputes can be taken into account in the drafting of the GmbH\u2019s articles of association. Specialist lawyer for commercial and corporate law<\/a> can answer your questions about the exclusion of a GmbH shareholder.<\/p>\n\n\n\n Wer einen Gesellschafter ausschlie\u00dfen m\u00f6chte, muss \u2013 wenn der Gesellschafter, wie so oft, seinem Ausscheiden nicht zustimmt \u2013 den Ausschluss auf einen wichtigen Grund st\u00fctzen. Ein solcher Grund liegt vor, wenn das Verhalten des betroffenen Gesellschafters das Vertrauensverh\u00e4ltnis zwischen den Gesellschaftern schwerwiegend beeintr\u00e4chtigt oder sogar nachhaltig zerst\u00f6rt hat und daher den \u00fcbrigen Gesellschaftern die Fortsetzung der Gesellschaft oder das Miteinander der Gesellschafter unzumutbar macht. Beispiele hierf\u00fcr sind schwere Pflichtverletzungen. In der Praxis sind die Veruntreuung von Gesellschaftsverm\u00f6gen \u2013 der \u201eGriff in die Kasse\u201c \u2013 sowie ein Versto\u00df gegen ein wirksames Wettbewerbsverbot die schwerwiegendsten und in der Rechtsprechung regelm\u00e4\u00dfig anerkannten Pflichtverst\u00f6\u00dfe, die einen Ausschluss eines Gesellschafters rechtfertigen. Daneben kommt der Tod eines Gesellschafters, die Insolvenz des Gesellschafters, ein nicht aufzul\u00f6sender shareholder dispute<\/a>, which is primarily the responsibility of the affected shareholder, or intentional damage to the company.<\/p>\n\n\n\n The exclusion of a shareholder takes place in several steps and requires careful preparation and implementation. First, the remaining shareholders must pass the exclusion resolution. The relevant provisions in the partnership agreement on the decision-making process must be observed. In addition, not too much time must pass between the shareholders' meeting and the other shareholders becoming aware of the important reason. A qualified majority or even unanimity among the shareholders may be necessary to decide on the exclusion. The affected shareholder has no voting rights in the decision on his exclusion for important reasons, as no one can be a "judge in his own case".<\/p>\n\n\n\n However, the shareholder to be excluded must still be invited to the shareholders' meeting, even if he or she does not have voting rights. Despite any important reason for his or her exclusion, he or she has the right to attend shareholders' meetings and also the right to have the important reasons explained to him or her and to be able to comment on them. Consequently, all invitation formalities must always be observed and an agenda must be sent out so that every shareholder can prepare for the shareholders' meeting and the resolutions to be passed. Minutes of the exclusion and the entire shareholders' meeting must be kept for documentary purposes.<\/p>\n\n\n\n After the resolution, the excluded shareholder must file a lawsuit to contest the resolution. He or she only has one month from the announcement of the resolution - not from the date the minutes are sent - to contest the resolution. However, this one-month period requires that the outcome of the resolution on the exclusion is recorded in the minutes. It is therefore particularly important to pay attention to such formalities. If formal and time-limit requirements are violated, the shareholders' resolution on the exclusion may be invalid for this reason alone, even if there is an important reason. The shareholders' meeting would then have to be repeated.<\/p>\n\n\n\n In the event of a timely challenge, the court will examine whether the conditions for exclusion are actually met and whether the exclusion procedure was carried out properly. In order for a shareholder to be excluded for good cause, a court decision is therefore usually necessary. Of course, it is possible to reach an out-of-court settlement with the shareholder. However, since the exclusion of a shareholder against his will represents a serious infringement of his rights, the shareholder concerned will not accept his exclusion so easily.<\/p>\n\n\n\n Every shareholder who is excluded from a GmbH is entitled to compensation, which the GmbH must pay. This also applies if there is an important reason for the exclusion. The amount of the compensation is determined by the market value of the company share. This usually requires determining the value of the GmbH, whereby the value of the GmbH share corresponds to the share in the share capital. Determining the value of the GmbH requires its valuation, which must be carried out using various methods such as the earnings value method or the discounted cash flow method.<\/p>\n\n\n\n It should be noted that there is no "one correct valuation method" and that different methods produce different values. Determining the amount of compensation therefore regularly leads to considerable disputes, particularly because the excluded shareholder and the remaining shareholders have different ideas about the company's value. A neutral appraiser is often commissioned to determine the value of the GmbH and thus also the amount of compensation.<\/p>\n\n\n\n Erschwerend kommt hinzu, dass im Rahmen des Ausschlussverfahrens die GmbH regelm\u00e4\u00dfig eine Bewertung in Auftrag geben wird. Hiermit k\u00f6nnen f\u00fcnfstellige Kosten verbunden sein. Der ausgeschlossene Gesellschafter wird das entsprechende Bewertungsgutachten regelm\u00e4\u00dfig nicht akzeptieren. Im Falle eines Gerichtsverfahrens wird daher regelm\u00e4\u00dfig ein gerichtlicher Sachverst\u00e4ndiger eine erneute Bewertung durchf\u00fchren, was erneut erhebliche Kosten verursacht, die der Verlierer des Gerichtsverfahrens zu tragen hat. Sehr oft kommt es dann zu einem Vergleich, nachdem viel Zeit vergangen ist und hohe Kosten entstanden sind.<\/p>\n\n\n\n In addition, the timing of the payment of the severance payment can be a point of contention. In some cases, the severance payment is paid in installments, especially if the GmbH does not have sufficient liquidity to pay the entire amount at once. However, the contractual provisions in the partnership agreement and the economic situation of the GmbH are crucial for this.<\/p>\n\n\n\n The social contract<\/a> plays a crucial role in the exclusion of a shareholder. In many cases, the contract contains provisions that regulate the procedure in the event of an exclusion. These include, among other things, provisions on the conditions under which a shareholder can be excluded, how the exclusion procedure works and what majorities are required for the resolution. If such provisions are missing in the partnership agreement, the statutory provisions of the GmbH Act apply. However, this can lead to confusion and legal disputes, which is why it is advisable to include corresponding clauses in the partnership agreement when the GmbH is founded.<\/p>\n\n\n\n Der Gesellschaftsvertrag sollte daher Bestimmungen enthalten, die den wichtigen Grund f\u00fcr den Ausschluss n\u00e4her spezifizieren. Zudem sollte geregelt sein, wie der Ausschluss stattfindet. Insbesondere sollte die M\u00f6glichkeit zur Einziehung der Gesch\u00e4ftsanteile<\/a> vorgesehen sein. Wichtig ist auch, Regelungen f\u00fcr die Bestimmung der Abfindungsh\u00f6he vorzusehen. Dies kann insbesondere das Bewertungsverfahren, die Mindesth\u00f6he, eine reduzierte Abfindung bei einem wichtigen Grund und die Ratenzahlung vorsehen.<\/p>\n\n\n\n <\/a>Another important point is the amount of compensation to which the excluded shareholder is entitled. Payment of compensation is required by law, unless the partnership agreement provides otherwise. The amount of compensation is usually based on the value of the shares held by the excluded shareholder. The exact value is often determined by an expert opinion that determines the value of the company and the excluded shareholder's share in it.<\/p>\n\n\n\n <\/a>Exclusion from the company has far-reaching consequences for the excluded shareholder. First of all, he loses his status as a shareholder and, with it, all rights to which he is entitled as a shareholder, such as the right to vote or the right to a share in the GmbH's profits. The partnership agreement plays a crucial role in regulating the conditions and procedure for exclusion. Compliance with all legal requirements and careful preparation are essential to ensure that the exclusion is legally binding and incontestable.<\/p>\n\n\n\n For the remaining shareholders, the exclusion of a problematic shareholder can be a relief, as it can significantly improve the working atmosphere and decision-making processes in the GmbH. At the same time, however, the exclusion also brings challenges, especially when it comes to financing the severance payment and the reorientation of the company after the shareholder leaves.<\/p>\n\n\n\n Die verbleibenden Gesellschafter m\u00fcssen sicherstellen, dass der Ausschluss rechtlich sauber durchgef\u00fchrt wird, um Anfechtungen und langwierige Rechtsstreitigkeiten zu vermeiden. Eine klare Kommunikation und Transparenz gegen\u00fcber allen Gesellschaftern sind hierbei von gro\u00dfer Bedeutung. F\u00fcr den ausgeschlossenen Gesellschafter wiederum ist es entscheidend, seine Rechte zu kennen und gegebenenfalls rechtliche Schritte einzuleiten, um eine faire Abfindung zu erhalten. Letztlich sollte der Ausschluss eines Gesellschafters immer als letztes Mittel betrachtet werden, wenn alle anderen M\u00f6glichkeiten<\/a> ausgesch\u00f6pft sind.<\/p>\n\n\n\n<\/a>exclusion for important reasons<\/h3>\n\n\n\n
<\/a>The process of the exclusion procedure<\/h3>\n\n\n\n
severance pay<\/h3>\n\n\n\n
<\/a>The Role of the Social Contract<\/h3>\n\n\n\n
<\/a><\/a><\/a>consequences of the exclusion for all parties involved<\/h3>\n\n\n\n