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Im a director and 50-50 shareholder of a UK limited company

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I'm a director and 50-50 shareholder of a UK limited company that also owns 95% of a Portuguese limited company. The UK company is in deadlock over payments to the subsidiary. It is my opinion that the subsidiary is not economically viable and I do not want to send any more money to the company. Can the Portuguese company insist that the shareholders pay its expenses? I am currently a director of the Portuguese company but the other 5% shareholder is trying to vote me off as director because I will not transfer money.
Submitted: 1 year ago.
Category: UK Law
Expert:  Wendy-Mod replied 1 year ago.
Hello,

I'm Wendy, and I’m a moderator for this topic.

We have been working with the professionals to try to help you with your question. Sometimes it may take a bit of time to find the right fit.

I was checking to see if you had already found your answer or if you still needing assistance from one of the professionals.

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Customer: replied 1 year ago.
Yes I still need an answer thanks
Expert:  Wendy-Mod replied 1 year ago.
Thank you, XXXXX XXXXX continue to look for a professional to assist you. Please let me know if I can be of any further assistance while you wait.

Best,
Wendy
Expert:  Fran-mod replied 1 year ago.
We are still working with the professionals to find you the best possible match. I wanted to touch base to see if you still needed a professional’s assistance.

Please let me know if you would like to continue to wait or if you would like to cancel your question at this time. We sincerely XXXXX XXXXX the extended wait time.
Customer: replied 1 year ago.
Yes I can wait, thanks
Expert:  Fran-mod replied 1 year ago.
You're very welcome.
Expert:  Senior Partner replied 1 year ago.
Thank you for your question. This is a matter of Portuguese corporate law but it is highly unlikely that a company can force its shareholders to pay anything. That would defeat those purpose of limited liability.

you need however to speak to a Portuguese lawyer
Senior Partner, Solicitor
Category: UK Law
Satisfied Customers: 13267
Experience: 30 years experience in business law and related topics such as employment law
Senior Partner and 6 other UK Law Specialists are ready to help you

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Senior Partner
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30 years experience in business law and related topics such as employment law