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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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I have gone into business with "a friend", a LTD has been set

Resolved Question:

I have gone into business with "a friend", a LTD has been set up with equal share each as directors of the company. (not an LLP) we have taken over the lease of a shop. She and her husband put up the money, they make all the main decisions. They are the Guarantors for the lease, though she and I are the signatories on the contract.
Having had a few disagreements, it has come to light that she wants me out but leave me with half the debt of investment. (saying to someone she will see me on the street) It was always clear that they would come up with the money, knowing if I could I would financially contribute half, They fully understood I did not have the money but wanted me on board, saying they couldn't do it without me. Where do I stand here?
Submitted: 2 years ago.
Category: Law
Expert:  Ash replied 2 years ago.
Hello my name is ***** ***** I will help you.
What is it you want to achieve please?
Customer: replied 2 years ago.
I want to understand whether they could put any debt on me should I choose to leave?
Expert:  Ash replied 2 years ago.
Personally no. You are a Director and unless you have a personal guarantee the no.
Can I clarify anything for you about this today please?
Alex
Ash and 3 other Law Specialists are ready to help you