- Original Poster
- #1
We have agreed to go our separate ways but the structure of our business is now causing problems and we have reached a stalemate. We have no shareholders agreement. We have a Trading Company(originally 2 directors but now only myself) and a Holding Company (2 directors, myself and business partner). The Trading company is owned 100% by the Holding Company. The Trading company was bought by the Holding Company approx. 4 years ago - fully disclosed to HMRC with an agreed valuation - as such the Holding Company still owes the directors the value of the company at that time, which we are drawing down as loan repayment. Originally we agreed that I would retain the Trading Company - I wanted to retain credit history etc, so I agreed a settlement figure with my partner which has been paid. My partner is now refusing to give up his 50% stake in the Holding Company, so after taking out his settlement now still retains a 50% stake in my Trading company. My partner intends to create another trading company for which the holding company will hold 1 share to take advantage of the loan repayment. My accountant is advising that we can get around the 50% ownership with a Shareholders agreement... thoughts?
