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Hi Nicola, Yes I'll wait and see if anyone replies.
Thank you for your help.
Unfortunately there was no shareholders agreement. I know ...big mistake.
She wants a lump payment to buy her shares back. I think the she has invested about £12000 I have invested over £21000 and she is rufusing to pay her half of the bills that are coming in
There are no assets in the business. She is willing to stay for the application because she is also applying for her own company that carries out the same practice in a different area. It's quite complicated. She would also be cutting off her nose by not carrying out the application as the business would be worthless. I think as a director and shareholder she is legally bound to pay her share of the losses
I'm very grateful for your help. This situation has made me very ill.
The relationship has now completely broken down and she has told the other shareholder that together they can vote me off as a director but leave me as a shareholder. I might accept that offer if it comes along but I have a feeling she will close the company down and start it under another name to make my shares worthless. Could I get an agreement stopping that from happening ?
all 3 own 33%
Its very complicated. We are applying for registration with the care quality Commission. I have invested £25000 into the business, another partner has invested £12000 in the business. The 3rd partner brings experience to the business so was not expected to add funds. Partner number 2 has refused to carry on funding and did say she wanted to leave. She has now told the other partner that she wants to stay but get rid of me. Partner number 3 wants to keep the peace but privately says she supports me. The problem is we need partners 2 and 3 to get us through the registration.
Partner 3 is leaving the business and privately says she will give me her shares but doesn't want to upset partner no 2. Its a desperate situation !
I have offered partner number 2, £10,000 for her shares but has not replied. If I agreed to stand down I think she would change the company and cut me out leaving my shares worthless unless we have an agreement saying that cannot happen
For the past month she has refused to help with the wages and I have had to borrow the money to pay the staff believing that I was going to take over the business. And now she is going back on the decision. Is she legally obliged to help find half of the money to keep the business going ?
Yes I would like to keep the company
Sorry this situation is dragging on but I have invested everything I have and a lot more in this business !
I have a thought.... the other 33% shareholder told me she wanted some office furniture etc for her shares and I gave them to her. She doesn't want to tell the other director and shareholder until we have completed our CQC Registration. When she does, I will own 66% of the business. Can I vote director no 2 off the board when the shares have been transferred ?
Yes I paid for the furniture but I don't have proof other than a text from her saying that she has accepted my offer.
I'm not actually sure that I can keep going financially, for much longer if we can't resolve the problem. Really appreciate your help.