How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Jo C. Your Own Question

Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 30929
Experience:  Over 5 years in practice
12826847
Type Your Law Question Here...
Jo C. is online now

I set up a company with my partner 6 years ago, we split up

Customer Question

I set up a company with my partner 6 years ago, we split up last year and I know have a feeling he is feeding some of our sales through one of his own companies and also one he set up last year which carries the same name as our business but it is an LLP rather than a Ltd company. How can i prove it and what can I do if I am right? Our relationship is strained enough as it is, trying to work together still with a lot of bad blood between us, but I cannot afford to give up my business as I put all my savings into it and a lot of hard work. I tried to confront him the other day and asked the question why some of his correspondence seemed to have his personal company name on it rather than our company's name, but he has ignored me so far and not explained it to me which makes me think that I am right. What should I do? - Don't think my email address was sent to you, it's [email protected]

Submitted: 3 years ago.
Category: Law
Expert:  Alex J. replied 3 years ago.
HiThank you.Are you both directors and equal shareholders of the company?Do you have a shareholders agreement?Kind regardsAJPs I am about to leave my computer for 45 mins but will be back so please do not be concerned if you don't hear from me right away.
Customer: replied 3 years ago.

Yes, we are both directors and equal shareholder of the company (and I do believe we have a shareholders agreement) but he has his own company and also set up an LLP a few months ago which I wasn't involved in but know about. Thank you for your prompt response and i look forward to hearing from you again at your convenience. Kind regards, Andrea

Expert:  Alex J. replied 3 years ago.
Hi,

Thank you.

Does the shareholders agreement say anything like, each party must act in the best interest of the company to further its business interests?

Does it contain any restrictions on the transfer of shares?

Kind regards

AJ
Customer: replied 3 years ago.

It just shows how stupid I was all those years ago to trust him implicitly (rose tinted glasses and all that) as I don't even seem to have a copy of the agreement at home. Will have a look if there is one in the office later and get back to you. I would hope that the answer to both questions is yes but need to lay my hands on a copy to confirm. I will be in the office around 11.30 and be in touch again. Thank you. Andrea

Expert:  Alex J. replied 3 years ago.
Hi,

Thank you.

No problem.

I look forward to hearing from you.

Kind regards

AJ
Customer: replied 3 years ago.

Sorry AJ - this silly old fool can't find a copy anywhere. I take it that if those restrictions are not mentioned in the agreement, I am b....d. Well, there isn't a polite way of putting it. I will try and get a copy off the accountant who set the whole thing up for us - if I can find him as he moved a few years ago...Thank you for your prompt response to my query - I will certainly give you more than 3 stars and thank you - it's not your fault you can't help without me providing the necessary information... Have a nice evening. Kind regards, Andrea

Expert:  Alex J. replied 3 years ago.
Hi

Thank you.

Don't worry you, it is not the end it, it just means we need to approach the problem in a different way.

If you can find out what it says that would be a great start.

Can you tell me in the mean time how many shares you own?

Kind regards

AJ
Customer: replied 3 years ago.

As far as I remember we only have one share each.

Expert:  Alex J. replied 3 years ago.
Hi

Thank you.

So you own the company 50/50?

Kind regards

AJ
Customer: replied 3 years ago.

Yes definitely.

Expert:  Alex J. replied 3 years ago.
Hi

Thank you.

Great if you can get back to me regarding the shareholders agreement I will then be able to respond.

The link will remain open I look forward to hearing from you.

Kind regards

AJ
Customer: replied 3 years ago.

You are too kind, you have already spent far too much time on my query. I shall do my best in obtaining a copy - and certainly act my age next time and not let my heart rule my head.

Expert:  Alex J. replied 3 years ago.
Hi

Thank you.

No problem. I look forward to hearing from you.

Kind regards

AJ

What Customers are Saying:

 
 
 
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
< Previous | Next >
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
  • A quick response, a succinct and helpful answer in simple English. I believe I can now confront the counter party with confidence -- worth the 30 bucks! Rick
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther
 
 
 

Meet The Experts:

 
 
 
  • Jo C.

    Jo C.

    Barrister

    Satisfied Customers:

    30316
    Over 5 years in practice
< Last | Next >
  • http://ww2.justanswer.com/uploads/EM/emus/2015-7-7_192327_bigstockportraitofconfidentfemale.64x64.jpg Jo C.'s Avatar

    Jo C.

    Barrister

    Satisfied Customers:

    30316
    Over 5 years in practice
  • http://ww2.justanswer.com/uploads/BE/benjones/2015-12-1_0437_ennew.64x64.jpg Ben Jones's Avatar

    Ben Jones

    UK Lawyer

    Satisfied Customers:

    11553
    Qualified Solicitor - Please start your question with 'For Ben Jones'
  • http://ww2.justanswer.com/uploads/BU/Buachaill/2012-5-25_211156_barrister5.64x64.jpg Buachaill's Avatar

    Buachaill

    Barrister

    Satisfied Customers:

    1754
    Barrister 17 years experience
  • http://ww2.justanswer.com/uploads/JO/jojobi/2013-3-19_0265_maxlowryphoto.64x64.jpg Max Lowry's Avatar

    Max Lowry

    Advocate

    Satisfied Customers:

    894
    LLB, 10 years post qualification experience
  • http://ww2.justanswer.com/uploads/UK/UKLawyer/2012-4-12_9849_F2.64x64.jpg UK_Lawyer's Avatar

    UK_Lawyer

    Solicitor

    Satisfied Customers:

    750
    I am a qualified solicitor and an expert in UK law.
  • http://ww2.justanswer.com/uploads/KA/Kasare/kasare.64x64.jpg Kasare's Avatar

    Kasare

    Solicitor

    Satisfied Customers:

    402
    Solicitor, 10 yrs plus experience in civil litigation, employment and family law
  • http://ww2.justanswer.com/uploads/OS/osh/2015-7-7_19268_gettyimagesb.64x64.jpg Joshua's Avatar

    Joshua

    Lawyer

    Satisfied Customers:

    8199
    LL.B (Hons), Higher Prof. Dip. Law & Practice