I sold out 51% of company shares to a best friend two years ago, due to the fact we were long term friends it was more or less a gentleman's agreement. we had the company valued at £750,000 at the time.
My friend agreed to pay £100,000 initially and the rest over the following three years with monthly payments.
My position was to not be involved with the day to day running of the business but be on hand to offer guidance and advise if required.
Sadly i was not consulted over a tendering process for a contract already held with the local authority and the company lost the contract due to tendering to high a rate for the care. ( the company is a care agency)
My friend and her partner liquidised the company and set up again continuing to run with the private care packages we currently held, many of the local authority care packages decided to stay with the company and became private clients. The company name was changed from Care Helpline Solihull LTd to Care Help Line West midlands limited.
i borrowed my friend ( the company back 30,000 to meet its PAYE demands with the promise from my friend i would get this back when the situation improved. ( this was before the liquidation)
My friend led me to believe i still owned 49% of CHL West Midlands LTD.
Within six months the Local authority fell into difficulties and offered the new company a contract at a lower rate than previous, My friend asked for my support to work in the company as a risk assessor and develop care plans, i worked relentlessly around 18 hrs a day 7 days a week to help build the company back up. i was told i would be employed and PAYE operated for any work i did for the company.
the money i was now receiving monthy was my wages i assumed, i manage to recruit and develop a good team. |On numerous occasions i requested access to the finances but was fobbed off one way or another by my Mrs Nugent (Director)
All of a sudden Mrs Nugent started emailing me saying she never wishes to speak to me again, blocked me from accessing the online care management system we work on for rostering and invoicing and has refused to discuss any of the issues with me. i am aware the finances have been miss managed and the company is owed a substancial amount of money. Mrs Nugent has imformed me the company owes a lot of money to HMRC (PAYE) she has stopped paying me what was agreed. Refused to allow me to continue in the job role i was doing and employed a new assistant manager.
I have checked on line and Mrs Nugent has set the company up with her as sole director with companies house. However Mrs Nugent did give me a share certificate some time ago.
Can you advise me if i have any rights ? Can Mrs Nugent just dimiss me in this manner with no adequate explanation ?
Seems i am getting done over by everyone i know...
Kind regards Jenny