Company director absconded. How to dissolve or disassociate myself from the company?

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asked on Apr 7, 2016 at 17:28
edited on Apr 11, 2016 at 09:57
Foolishly I helped a family member incorporate two Sdn Bhd companies in early 2014 by acting as the second director. I was not actively involved in the businesses and expected to resign the directorship within the first 12 months however the 'family member' upped sticks and moved back to Australia at the end of the same year leaving two boxes of business files and paperwork with me on the understanding he would arrange for them to be audited with the company secretary and then have both businesses closed down. I am no longer in contact with this individual and the company secretary has been unable to reach him so I need to know what the best course of action for me to take to disassociate myself from these companies. As I understand it I am unable to resign as a company requires a minimum of two directors. I also don't have the funds to pay for audits and for the company secretary to wind the companies up on my own and I wouldn't know if I can do that without the other director being involved anyway.

I believe both companies have not traded since 2014 and in fact may have only made one or two transactions in their time. I am trying to find out who the company secretary is and I will ask their advice but in the meantime I wanted to see if I can find a second opinion here. Hopefully it is possible to dissolve both businesses as a result of an absconded partner? Many thanks.
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2 Answers

answered on Apr 7, 2016 at 19:47
edited Apr 11, 2016 at 09:46
1/ Go make a search at Registrar of Companies (ROC), the company secretary can be found.
2/ Ask the company secretary to dormant the company.
3/ Sell the dormant company. To close costs a lot more.
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answered on Apr 8, 2016 at 11:52
edited Apr 11, 2016 at 09:44
A lot of companies are simply closed-shop and abandoned without properly winding down.
SSM does not have the resources to look for the directors because there are too many of them.
Safety in numbers.
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