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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 32086
Experience:  Over 5 years in practice
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One of my two business partners - - is trying to liquidate

Customer Question

One of my two business partners - Harry - is trying to liquidate our business 'The Dining Room Ltd' with out neither the consent or authority of the two other Directors. Harry has a 40% share hold, I own 20% and Kelvin who is also the head chef owns 40%.I believe the business debt currently at around £40-£50k is a manageable debt taking into account we have £300k of weddings & event revenue confirmed over the next 12-18 months, in addition to the average £5-£8k per week restaurant trade.My role since Jan/Feb 2016 has been Events Director, managing the operations, events, restaurant, HR and also driving the sales and revenue. Kelvin has fulfilled the role of head chef, and we have done quite well. Harry was responsible for the finances, he also owns 100% of Llanrhaeadr Springs Ltd who charges the restaurant rent. I believe the financial stability has been intentionally wound down so the non official 'parent' company can then take on the secured business from us.We have had no visibility of accounts, VAT returns or any other official documentation despite persistently requesting these. Unfortunately, our accountant was sourced via Harry!Its a real shame, I hope you can help - Mr Dewi Lewis
Submitted: 4 months ago.
Category: Law
Customer: replied 4 months ago.
Forgot to mention that I have not yet made contact with said person, but I am eager to get something over by 9am if possible. Thank you
Expert:  Jamie-Law replied 4 months ago.

Hello my Name is ***** ***** I will help you.

Do you have any shareholder / director agreement?

Customer: replied 4 months ago.
We do yes, what detail should I be looking for?
Customer: replied 4 months ago.
I can't rate the service?!
Expert:  Jamie-Law replied 4 months ago.

You won’t be able to rate yet, as I haven’t provided an answer.

What does it say about liquidation or dissolution?