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Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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My business partner wants to close our business down can he

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My business partner wants to close our business down can he do this without my consent
we are both 50% shareholders the business is currently very successful
Hello my name is ***** ***** I will help you.For now please let me know if you have a shareholders agreement at all?ALex
Customer: replied 1 year ago.
we are a limited company registered with companies house both partners are registered as 50%shareholders
But do you have a shareholders agreement? If so what does it say about ending the business or one partner wanting to leave?
Customer: replied 1 year ago.
no we don't have shareholders agreement
Ok - your partner cant close the business down without a majority. He/she doesnt have that and as such can not close the business.The partner can sell the shares and that would be a way out, but in the absence of any agreement to the contrary your partner can NOT close the business. He/she simply doesnt have the power.Can I clarify anything for you about this today please?Alex
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Customer: replied 1 year ago.
No thank you you have confirmed what thought,Many thanks,
Mark Clarges.
Good luck Mark.