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. There is no need to wait here, you will get an email when I reply.
Do you have a partnership agreement?
No don't think we do. just equal share.
What do the articles say about these things if anything?
Ill need to find them and look
All Im aware of is company registration Docs
Well I can tell you that generally it may not be of help, so I will assume the worst and give the answer on the basis that it does not.
Its bad news though I am sorry to say
When you make payments on your credit card the funds should already be in the Company.
Only if he agreed that he would pay 50% would he be liable.
If he did not agree to pay 50% then the Company is responsible for paying back the balance.
Ideally there should have been some written agreement that set out what each party was going to do and this would have included set up expenses and what happened when you put things on your credit card.
But sadly in the absence of that unless he agreed to, he personally is not liable.
But the Company wouldbe.
Can I clarify anything about this for you today please?
Well if their is no agreement then I can't get him to pay what I believe is his share ..
last Q, If no money in company account but balance on CC if I dissolve company what happands to debt?
The debt then belongs to the Company, unless there is any agreement he would pay it.
Sadly any assets if any would be liquidated to pay the debt outstanding
OK no assets in Co. Am I personally liable
In the absence of any agreement.
I know this is not the answer you want and certainly not the one I want to give you, but I have a duty to be honest.
ok fine thanks
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