Hello, welcome to the website. My name isXXXXX can assist you with this.
Are you employed by the business?
How long have you been employed for?
Okay. And you receive income via dividends too, right?
Or is this not a company?
Is this a company?
Okay. Is he saying he will stop paying you a dividend too?
Ah okay, well he might not want to pay you anything, but legally, if the company declares dividends, he has to, as you're a 50% shareholder.
So, he can grumble, but until he actually stops paying you, then he does nothing wrong legally.
So legally, he must continue to pay you dividends.
No, not necessarily. Are you both directors?
Are there other directors?
I asked if there were other directors?
Okay. Then he cannot decide anything without putting it through the board and getting their consent.
As there are 2 of you this means your deadlocked.
He must continue to pay you as before.
You're likely to have a claim against you brother if he does anything to alter that position.
You would also be able to wind up the company, by presenting a winding up petition on what we call the just and equitable ground. This means the company can't continue anymore as it's deadlocked on its management.
I doubt he would want that, by the sounds of it?
I think you need to negotiate a solution really. Usually, one buys the other out, but the final step if to close it down and both of you to start again.
Then he has to continue to allow you to be paid dividends as you are entitled to.
If he doesn't like it, then he would have to end the company completely.
Thank you. I wish you the very best. Take care.