Question
ABC is an LLC formed by two members in 2010; A is an Egyptian Citizen and B is a French Citizen; each put in capital
ABC is an LLC formed by two members in 2010; A is an Egyptian Citizen and B is a French Citizen; each put in capital a capital of 100,000 EGP. The contribution of each member is 50,000 EGP. ABC LLC is looking to purchase a plot of Land in the East Desert (not suitable for agriculture) for storage purposes. This land is crucial for the company due to its position and is needed to satisfy the company's needs. There has been recent disputes between A and B and thus no one wants to allow the other to have a majority.
Mr. B comes to you for advice, what would you recommend to Mr. B regarding this issue? Are there any considerations to keep in mind regarding this ownership?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started