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Partnership dispute

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

  1. Bill2008

    Bill2008 UKBF Newcomer Free Member

    6 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

    9,992 2,548
    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

    6 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

    932 205
    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

    6 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

    58 13
    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

    58 13
    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

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

    Bill2008 UKBF Newcomer Free Member

    6 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

    9,729 1,012
    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

    6 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

    58 13
    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

    9,729 1,012
    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