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I have become estranged from my business partners. One of them insists that I am owed shares in the company, but I don't wish to accept them, not least for reason that I believe the shares to be worthless.

Can they register a transfer of shares to my name against my will? The shareholding would be substantial: 31%.

EDIT

My jurisdiction is the UK.

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  • Would the shares be any burden?
    – Greendrake
    Commented Dec 3, 2018 at 0:46
  • @Greendrake. Essentially I wish the company to be liquidated. This would liberate me from a (very unfair) 3 year non compete. Although taking the shares would not be incompatible with my position, since my belief is that they're worth zero, refusing to take them would be a strong indication of my conviction. You could call acceptance of shares a potential erosion of my stated position, in which case yes, the shares are a burden. Commented Dec 3, 2018 at 1:55
  • I have not yet received a canonical answer to this question. Please could someone take a stand and give me an opinion. Commented Dec 4, 2018 at 19:00
  • If I get this question right, it boils down to whether a person can become the owner of shares of a UK company without formally accepting them. That is, can a company just issue/transfer shares to anyone without their consent. If this angle stands, it would make sense to rephrase the question — it will probably receive more attention.
    – Greendrake
    Commented Dec 4, 2018 at 19:25

1 Answer 1

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You could probably refuse the shares, although the mechanism would depend on ther jurisdiction you are in.

You could accept them and then give them to a charity, if you so choose. Unless the shares are restricted in some way, as some shares are.

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  • David thank you. My jurisdiction is the UK. Commented Dec 2, 2018 at 23:38
  • I know I can transer the shares to anyone I wish, but the question really is about whether or not I can refuse ever taking the shares in the first place. Commented Dec 4, 2018 at 19:02

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