Verbal Contract Advice

[skinman113]

About 5 years ago I was offered 10% shares in a company to persuade me to stay as I had another offer from another company. This was verbal and on a number of occasions I asked for this to be sorted and never was. I was fobbed off many times by the owner saying if he gave me the shares I would have to pay a large tax bill. His brother does our accounts and he told the owner if he gave me the shares it could be worth as much as 60 thousand pound and I think this changed his mind on giving me the shares.
I feel cheated as I had a chance of going to another company offering shares and this company has grown to a larger size.
Is there anything I can do Legally?

 

[akirk]

if there is nothing in writing, while you may have a contract (verbal is as good as paper) you will have considerable difficulty in proving it, it will be your word against his.

I am surprised that you allowed this to go beyond a week, let alone 5 years

for the future if this scenario happens the simple response is to get it in writing (preferably as a share certificate!) in a timescale short enough that you can still accept the other company's offer if it doesn't happen.

as for now - put it down to experience.

Alasdair