This is a portion from a threatening email received yesterday:
"If you are not going to sign the documents required let me know by this evening and I will ensure the company takes the appropriate action as Frank has already invested greatly, that’s why the business is here today! Its time it stood on its own two feet."
What has occurred is the beneficiary owner has undertaken a new project and has run out of funds. This project was entered without any discussion with me and I have no relationship with this other business. He now wishes to setup finance facilities with a new Bank, which i have agreed to; however I have stated my name should be on the account as the director. He has stated no and that his daughter is the only person to be listed.
I have discovered the majority shareholder has a history of aggressive, fraudulent behavior; however he has operated within troubled countries where the judicial system has not been strong enough to hold him to account.
He has stated that if I do not sign, then he will apply a 200% interest rate to any funds. what he will likely do is instruct the accountant to make sure the company does not make any profit and he receives everything.
My issue, is I have departed the position as the MD and now wish to exit as the Director under our gentleman's agreement. I have delivered a multi million dollar business and now it is time for him to settle with me.