Recent content by jayintheuk

  1. J

    Setting up limited company- share capital v/s loan

    Sorry, it was just a random thought. I do have high morals and wouldn't do anything that is as per law and morally wrong.
  2. J

    Setting up limited company- share capital v/s loan

    I agree this would not be a right thing to do and i wouldn't do it.
  3. J

    Setting up limited company- share capital v/s loan

    Thanks Chris. I agree. And this guy (lets call him X) has mentioned that the money he is putting in is a loan to the company, so he knows about the way things work. Can I not increase the share capital now by amending the company documents with Companies House? Will it require his consent...
  4. J

    Setting up limited company- share capital v/s loan

    Thanks. That’s my worry. I am the majority share holder. One shareholder is causing problems and we are thinking of getting rid of him. However, in that situation he will simply claim that his investment is a loan to the company and will ask full amount back; whereas the value of the business...
  5. J

    Setting up limited company- share capital v/s loan

    No, the property was bought through limited company. The property is in company’s name.
  6. J

    Setting up limited company- share capital v/s loan

    Dear Forum members, Three of us have set up a limited company between us, all three being directors in the company. the initial share capital was 100£, each share valued as £1. Subsequently, during the running of business (we have got into property -BTL), we put our own money in buying the...
  7. J

    Removal of Director

    Thanks Wavejumper. very nice piece of advice. unfortunately, the resentment has now set in so deeply that I donot see a chance of reconcilliation, but of course I will try my best to find an amicable way out
  8. J

    Removal of Director

    Thanks Andrew. Will do. Am I able to speak to you on phone on this matter?
  9. J

    Removal of Director

    Thanks. I know I have to be very careful. yes, it was agreed that so long a person has shares, he will be Director, though it was all verbal. However, his behaviour and attitudes have been of such nature that it has become impossible to tolerate him anymore. He has been negligent of his role and...
  10. J

    Removal of Director

    Yes, you are absolutely right. But my dilemma was- should I even try to put in place a shareholder's agreement before bringing the fight out in open?
  11. J

    Removal of Director

    Thanks for response. My understanding from reading on the net and on speaking to few people (including a solicitor) is that for a limited company to be classed as quasi-partnership, following things should be there (Ibrahami case): An association formed or continued on the basis of a personal...
  12. J

    Removal of Director

    Dear forum members, Need your advice on the following: Background: I have set up a limited company with a friend X and Y. X and Y are not known to each others. All three are Directors in the company. I am 50% share holder while other X is 30% and Y is 20%. We have developed serious differences...
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