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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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A company is split owned by two brothers 51percent 49 percent.

Customer Question

A company is split owned by two brothers 51percent 49 percent. They have further split their shares in half with their respective wife's. the brother after 6 years are not in agreement moving forward with the company. The minority shareholder 49percent recently said he was going to leave.. His brother said fine relationships go wrong .. Speak to your accountant and let me know what he says .... The brother has said today his accountant has found some disturbing facts ,,,, the majority shareholder has himself been unhappy for quite some time as his brother has his daughter doing the accounts and his wife doing the payroll. Despite asking the majority shareholder brother does not get information regarding the purchase payment runs or salary runs and the other brother, wife and daughter keep things looked and secret,.. He feels he has lost control over his own company and is trying to regain control ... All very difficult
Submitted: 3 years ago.
Category: Law
Expert:  Ash replied 3 years ago.

AlexWatts2013 :

Hello my name is Alex and I will help you with this. Please note that I am a working Solicitor and may be on and offline as I have to attend Court and meet with clients, even at weekends. As such you may not get an instant response when you reply as this is not an ‘on demand’ live service, but rest assured I will be giving your question my immediate attention upon return.

AlexWatts2013 :

Are they all Directors also please?

AlexWatts2013 :

Please note that I will be going offline soon and will pick this up in the morning for you.

AlexWatts2013 :

Is there a shareholders agreement at all please?