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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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i have health business, my friend has a pt business, we have

Resolved Question:

i have health business, my friend has a pt business, we have opened a private gym together for other pt to join and bring their clients. as an add on to the lease we have use of as much extra space in the building to do classes, such as aerobics etc. my friend is now saying the classes is his side of the business i have to buy into that but the agreement was made as terms of the gym lease so i think ishould already get half. thanks paul
Submitted: 2 years ago.
Category: Law
Expert:  Ash replied 2 years ago.
Alex Watts : Hello my name is ***** ***** I will help you with this.
Alex Watts : For now please let me know if this is a partnership or limited company?
Alex Watts : Do you have any form of partnership agreement?
Customer:

it is a limited company and so we are both directors of the gym

Customer:

we don't have a partner agreement no

Alex Watts :

Is there a Directors agreement or are you equal shareholders?

Customer: I set the company up with 2 directors but but we didn't sighn an agreement, just the lease which we both signed
Customer: thanks
Alex Watts : Ok, so are you equal shareholders?
Customer:

we both hold 1 share each or 'your personal gym limited. under that I have Paul Lang Heath and beauty which is my company and he has DGHall Personal Training. both operating at 'your personal gym limited

Alex Watts :

Ok - does the gym licence or have an agreement with either of these two other companies to allow them to operate at the gym>?

Customer:

we are building the gym ourselves as our own company

Alex Watts :

So there is no formal agreement between the company that owns the gum and that running the classes etc?

Customer:

i have an email confirming the use of extra rooms for classes on the gym lease. the building owners geymy business partner is trying to keep the proceeds of that as his pt business. Can you confirm that the offer of space on the Your Personal Gym's lease me

Alex Watts :

I agree. You should already have half.

Alex Watts :

You are in business together.

Alex Watts :

If he refuses then what you can do is terminate that agreement with the provider (which your friend owns)

Alex Watts :

There is no agreement, it can be terminated and your friend cant do anything

Alex Watts :

So in any event you are entitled to 50% you dont need to buy into it

Alex Watts :

Can I clarify anything for you about this today please?

Customer:

Thats all thanks

Alex Watts :

Great. If I could ask you to rate my answer before you go - the button should be at the bottom of the screen

Alex Watts :

If you need more help please click reply

Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience: Solicitor with 5+ years experience
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