Partnership dispute

Discussion in 'General Business Forum' started by Bill2008, Feb 7, 2018.

  1. Bill2008

    Bill2008 UKBF Newcomer Free Member

    Posts: 6 Likes: 0
    Hi all
    I’m in need of some advise from you guys
    I set up a small flooring company in 2012
    The company was not live until 2014 when I secured good size project
    Half way through that project a frind and my manager in the previous 2 company’s I worked for join the company and I give him 50% of those shares
    From the day one I had Isues with him and most of them Isues where using company’s money for all he’s needs without my permission
    Now I have dicided that enough is enough and need to get rid of him
    As a floor layer by trade I have been doing all the site works and him together with his wife has been dealing with pricing and all other office work
    The question that I would like to ask is if I can’t get rid of him would it be possible for me to close down the company and what is the procedure

    Many thanks
     
    Posted: Feb 7, 2018 By: Bill2008 Member since: Feb 7, 2018
    #1
  2. Newchodge

    Newchodge UKBF Big Shot Free Member

    Posts: 8,260 Likes: 2,084
    Is this 1 person or 2?

    If it's 1, do you each hold 50% of the shares?
     
    Posted: Feb 7, 2018 By: Newchodge Member since: Nov 8, 2012
    #2
  3. Bill2008

    Bill2008 UKBF Newcomer Free Member

    Posts: 6 Likes: 0
    Hi
    Yes he is one person and we both have 50% shares
     
    Posted: Feb 7, 2018 By: Bill2008 Member since: Feb 7, 2018
    #3
  4. KAC

    KAC UKBF Enthusiast Free Member

    Posts: 576 Likes: 116
    Did you have a shareholders' agreement?
     
    Posted: Feb 7, 2018 By: KAC Member since: May 7, 2017
    #4
  5. Bill2008

    Bill2008 UKBF Newcomer Free Member

    Posts: 6 Likes: 0
    No we don’t have any agreement
     
    Posted: Feb 7, 2018 By: Bill2008 Member since: Feb 7, 2018
    #5
  6. XombiCreative

    XombiCreative UKBF Contributor Free Member

    Posts: 32 Likes: 6
    If there is no written/signed agreement, you will have to talk to him and come up with some kind of mutual agreement.
     
    Posted: Feb 7, 2018 By: XombiCreative Member since: Dec 20, 2017
    #6
  7. XombiCreative

    XombiCreative UKBF Contributor Free Member

    Posts: 32 Likes: 6
    Out of interest though, if he was your manager previously did he treat you as a partner or as your boss?
     
    Posted: Feb 7, 2018 By: XombiCreative Member since: Dec 20, 2017
    #7
  8. Bill2008

    Bill2008 UKBF Newcomer Free Member

    Posts: 6 Likes: 0
     
    Posted: Feb 7, 2018 By: Bill2008 Member since: Feb 7, 2018
    #8
  9. Bill2008

    Bill2008 UKBF Newcomer Free Member

    Posts: 6 Likes: 0
    Hi
    No he didn’t , the problem start it when I question the invoices that had nothing to do with the business and because his wife was self appointed finance manager they where doing things that I wasn’t happy with
     
    Posted: Feb 7, 2018 By: Bill2008 Member since: Feb 7, 2018
    #9
  10. Mr D

    Mr D UKBF Legend Free Member

    Posts: 5,171 Likes: 504
    So who agreed to her becoming finance manager? And who gave her power and responsibility?
     
    Posted: Feb 7, 2018 By: Mr D Member since: Feb 12, 2017
    #10
  11. Bill2008

    Bill2008 UKBF Newcomer Free Member

    Posts: 6 Likes: 0
    I never aggred to anything, it was only few months ago that I added her to the bank accounts as secretary
    We never had any board meetings
     
    Posted: Feb 8, 2018 By: Bill2008 Member since: Feb 7, 2018
    #11
  12. XombiCreative

    XombiCreative UKBF Contributor Free Member

    Posts: 32 Likes: 6
    you just need to talk to him one-to-one, as it has nothing to do with his wife and just come up with a solution. If its effecting the business you need to do it asap.
     
    Posted: Feb 8, 2018 By: XombiCreative Member since: Dec 20, 2017
    #12
  13. Mr D

    Mr D UKBF Legend Free Member

    Posts: 5,171 Likes: 504
    You didn't agree to anything but added her to the bank account anyway?
    What is the secretary doing being added to the bank account?
     
    Posted: Feb 8, 2018 By: Mr D Member since: Feb 12, 2017
    #13