Hi Alex, yes I do.
Thank you. Does this mean I can just close the company? I am worried that he will sue me for the monies paid and cause damage to my name as he has an extensive network
also can I just bring his shares down to 18% without authority. Can I do this today?
so I have to hold a meeting? I know he will not agree to this
can you explain 'you can resice pro rata" in laymen terms?
So if I remove him as a director and bring his shareholding down to 18.6% then he is in effect a silent investor
If I were to close the company and if he sues for the monies advanced to date, does he sue me in personal capacity or the business? i.e. there will be a potential judgment against the business
so if he paid to the company, does that mean he can not sue me in my personal capacity
If a judgement is obtained against the company then, and the company owns no assets, the judgement would not be enforceable, right?
my suspicions are that he will go on a spree and cause major repetitional damage to my name (which is ultimately my brand). To put my mind at ease is there a way I can prevent this?
Do I have to hold an agm to vote to remove him as a director and change his shareholding? or can I just action this myself immediately?
So he can oppose this?
what is the notice period which i need to give him notice of for the meeting to take place? What is an EGM?
So although I have 70% I still can not just remove him?
even though he has breached our agreement?
I can just remove him?
Do I still then need to hold a EGM? or can I bypass this?
By I can override his vote because I am majority shareholder?
ok so my options are to either closet company and risk my name being damaged or hold and EGM and override his vote and adjust his shareholding and position with Companies House?
Do I not need his signature from him to present to companies house to close the company?
If I close the company does this mean I liquidise and will then not be able to be a director of another company? This will also affect his capacity too?
How do I just close it?
the form I looked at stated I needed his signature
thank you for all your help. Now I need to make the decision which way I go
I can open another company and start trading and taking orders straight away? Can he not sue me for this action?
Is this fraud?
but I mean legally If I started taking orders straight away into the new company and closed the current company can he not then take legal action?
considering everything so far has been with the current company including shoe samples?
ok I understand
I think that has answered everything
So ultimately I can action whatever I like as long as I communicate this to him?
If I follow the correct legal steps
I think that's everything
Thank you for your help
Have a lovely evening