§ 21 GmbHG Can­cel­la­ti­on or § 64, 65b AktG

Rea­liza­ti­on of com­pa­ny shares

§ Sec­tion 21 Kadu­zie­rung (com­pul­so­ry exclu­si­on of share­hol­ders of a GmbH or AG)

1) In the event of delay­ed pay­ment, the defaul­ting share­hol­der may be issued with a new request for pay­ment within a grace peri­od to be deter­mi­ned, under thre­at of exclu­si­on from the share to which pay­ment is to be made. The request shall be sent by regis­tered let­ter. The grace peri­od must be at least one month.

(2) If the dead­line expi­res wit­hout result, the defaul­ting share­hol­der shall be declared to have for­fei­ted his share and the par­ti­al pay­ments made in favor of the com­pa­ny. The decla­ra­ti­on shall be made by regis­tered let­ter.

(3) The excluded share­hol­der shall remain lia­ble to the com­pa­ny for the loss suf­fe­r­ed by the com­pa­ny in respect of the amount in arre­ars or the amounts of the capi­tal con­tri­bu­ti­on sub­se­quent­ly clai­med on the share.