Hi, Thank you for your question and welcome. My name is ***** ***** I will assist you. Does your company have any assets and/or creditors? Kind regards AJ
Yes 3 office containers, around 4k each, Also work equipment in the region of 30K. We have no outstanding creditors
Hi, Thank you. Would your partner be interested in selling his share to you? Also do you know whether he has actually poached clients or diverted business to the new company?
Hi, Well he probably would, I did confront him with the companies house certificate, and he said, well that was to protect our company name. However I do find a little suspicious, because he registered to another address, but fortunately for me, it came to our company address.
How much should I be looking at if he wants to buy me out ? the company turns over £260,000 per annum, we have new clients on the books that could generate around 80k each per year. I also mentioned after confronting him that I would like to my name on the new business then as a share holder, he replied ' why its dormant ? It does'nt mean anything anyway if you do, and was reluctant to want to go ahead. I also mentioned having a directors contract betweens, he also said that i
Directors contract between us. he replied its not worth it, ' as it won't mean much in the court of law if we did split up. which I responded ' well it's in both our interest right ? ' he replied ' well he'll have a look at it' . He doesn't seem like he wants to. which again send alarm bells
Hi, Thank you. Why dont you ask him to transfer the shares in the company he has formed to your limited company so it is a subsidiary of your existing company? That will show whether it was really a an attempt to "preserve the name or not". Also would you be happy to carry on working with him if you had a shareholders agreement?