Re Business Partners (see previous post)

[milly19]

Hello again

I have just had a conversation with the other working director, she informs me that she wishes to carry on trading under our company name, and would like me to disappear and let her take over, if she doesnt want to work with me can she force me out? it isnt me who wants to leave the company.

Thanks
Milly19

 

[Williams lester]

What shareholding do you both have?

Is there a shareholders agreement?

 

[milly19]

33% each, the male director said he wants out and will give his shares back to the company, so i suppose we have 50/50

 

If you have equal shareholding, then you have equal rights.

Ultimately you will have to have an intelligent conversation, either agreening on how to work together, or how to split the business assets (including goodwill items) to the best advantage of borth parties.

 

[milly19]

Hi there

the other director wants to carry on trading alone and to get rid of me can she do this? i want to carry on as well if she doesnt want to work with me can i be forced to cease trading?

Thank you