114.4 Russian rouletteOver the last few years, it has been increasingly common to find a so-called ‘Russian roulette’ clause in the deadlock provisions of a private limited company shareholders’ agreement. As the name suggests, this is a much more drastic solution to the problem as it will inevitably lead to the departure of one of the shareholders from the company.The procedure typically works as follows. Shareholder A initiates the procedure by serving a written notice on shareholder B offering to buy B’s shares in the company at a specified price. B has a limited time (often 28 days) either
Over the last few years, it has been increasingly common to find a so-called ‘Russian roulette’ clause in the deadlock provisions of a private limited company shareholders’ agreement. As the name suggests, this is a much more drastic solution to the problem as it will inevitably lead to the departure of one of the shareholders from the company.
The procedure typically works as follows. Shareholder A initiates the procedure by serving a written notice on shareholder B offering to buy B’s shares in the company at a specified price. B has a limited time (often 28 days) either
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
0330 161 1234