How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Jo C. Your Own Question
Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 32086
Experience:  Over 5 years in practice
Type Your Law Question Here...
Jo C. is online now

A friend and I set up a LTD company together as a 50/50 partnership.

Customer Question

A friend and I set up a LTD company together as a 50/50 partnership. We created the ideas, name and business plan together.
We applied for start up funding and we were accepted for a loan.
We then both had circumstances that prevented us taking out the loan at that time. Family Bereavement being the factor impacting myself at the time.
Upon my return I found that I had been removed from all our business accounts and that partner was now going alone with all our work and apprently there's nothing I can do about this.
I never gave permission to do so.
That partner has since registered the company alone and has cut all comunication ties to me..
What can be done legally? Do I have a case here or have I sadly been shafted ?
Advice and comments welcome
Submitted: 1 year ago.
Category: Law
Expert:  Alex J. replied 1 year ago.
Hi, Thank you for your question and welcome My name is ***** ***** I will assist you. When you formed the original company were you issued with shares? Has he set up a new company? What stage did the company reach before you stopped?