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Leon
Leon, Solicitor
Category: Australia Law
Satisfied Customers: 44631
Experience:  24 years experience. Admitted in New South Wales and the UK.
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I had made one agreement with two of my friends (on 19 March

Resolved Question:

I had made one agreement with two of my friends (on 19 March 2015) to start After Hour GP home Visit business in Adelaide (MEDVISIT PTY LTD, ACN: 604 944 194,ABN: 77 604 944 194). We had written an agreement and in that agreement I had nominated my Wife as the owner of 30% share in Medvisit. My wife (Noshaba Tabassum) paid 214,000 dollars for these shares. (We never got the signed copy of the agreement, and in that agreement the director has written everything to protect himself and it was unfairly written. As I had lot of trust on my friend, so I signed it and he kept singed one with him and said to us that he may re-write it and then he will provide us copy).When the business started in October 2016, my wife wanted to see the accounts. I asked the director about account who's wife had 35% (Zille Yasmeen) share and only he and his wife were directors (please see 2nd attachment). The other 35% shares were with second friends (Mr. Jehangir, please see attached certificate).The director refused to show the account and we had dispute on this issue. To cut the story short issue extended up to that extent that the Director (Asim Shehzad) said to me that he will suicide and put gun on his head during our argument as he was insisting me to sell my wife 30% share to him with 20% in addition of 214,000. My wife was not happy with it and was not ready to sell. I had mentioned this to him via emails several times.But he kept saying to me that he is very tense and was in hospital as blood was coming from his nose due to high blood pressure. Due to these conversation I thought the life is not better than money and I compelled my wife to sell, she half heartily agreed and I wrote one email to the director that we are ready to sell our share.When Director brought form of transfer for getting my wife signature, my wife refused to sign. I again wrote him email and said that the business is very successful and my wife don't want to sell it. I can try if he offer 40% of 214000.00 dollars in addition to 214K or the business evaluation report should be made by register Charter Accountant for evaluation and If my wife accepted it then the sale may happen.After getting this email, he sent me attached letter (Legal letter issued on 23/03/16). After reading letter, I again insisted my wife as again he had said to me in one mobile telephone conversion that he will suicide or put gun on his head.I pressurise my wife to sign the sale form on 24/03/2016 after getting 214K plus 20% bank cheque. My wife signed with very heavy heart.Now she is saying that Director pressurised you a lot and that is why I signed. I also feel bad.Is there any way if we can avert the sale after returning the money to the Director.Thanks a lot for your help.Here is my last email which I wrote to Director:Dear Mr. Asim,
After getting your letter yesterday I discussed with my lawyer and told him that I got a phone call from you on 18/3/16 @ 4.16 PM (for 7 minute) in which you mentioned to suicide and fire on yourself etc. I also showed him all the emails from beginning till last one. His opinion is very strong that your letter has no legal standing.I also discussed with my friends the base reasons of disputes (800K, 500K, 30% franchise fee, Melbourne, Darwin, Cafe etc). Their opinion was divided to fight or quit.After knowing your business practice here and in Pakistan, I am deciding to give you independence and get myself also free from this stress.If the bank cheque is ready, please send someone at my home and I will hand over the share transfer letter.Thanks for your help.Mahtab
Submitted: 1 year ago.
Category: Australia Law
Expert:  Leon replied 1 year ago.
Good AfternoonMy name is ***** ***** I am a NSW Solicitor. Thank you for your question, and will do my best to assist you with your question. Please understand this is not legal advise Please understand this is not legal advice but a guide to assist you.Firstly you have no right to request anything from the company as you are not a shareholder and they can refuse any request you personally make.Only your wife is able to make a request for the finances as she is the share holder. I am very surprised that your wife handed over $214,000.00 without seeing any agreements to confirm her shareholding and the cost of each share.Because the pressure for her to sign was run by you, there is very little that can be done here. I'm also very surprised that your wife did not obtain legal advice before signing anything.I am also quite shocked that you have received a letter from a solicitor, and from what you are describing you did not take that led to get independent legal advice proceeded to sign documents to receive payment. If your wife wishes to argue that she was pressured into signing by the directors she needs to show that the actions of the directors knew had a negative impact on her.Anything signed under duress is void under the law but she will need to speak to a commercial lawyer and that this matter will need to be taken to the Supreme Court of Western Australia or the Federal Court of Australia. I would estimate the costs of this kind of action would be in the vicinity of $100,000 per party.She may have a case but she will need to provide more detailed evidence than what she is given here.I hope this makes sense and is of assistance.
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