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JGM
JGM, Solicitor
Category: Law
Satisfied Customers: 12300
Experience:  30 years as a practising solicitor.
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I have just found out within the last 24 hours that my

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I have just found out within the last 24 hours that my directorship of my family’s business has been terminated without prior consent or my knowledge. I stumbled upon this online.My shares have been removed from me and redistributed amongst the remaining family/directors again without prior consent or financial reimbursement.At no point have I been consulted, asked to attend any meetings, given 28 days special notice, make representation, passing any resolution in my presence, provided with any communication on my dismissal or have violated any legislation or contractual agreements.I have found form TM01 online duly completed confirming my resignation.

Thanks for your question. Generally, and subject to my comments below, they can’t of course do that. It is illegal. You will need to see a solicitor quickly to have your case prepared and if necessary put into court to protect your position. I am assuming there is no shareholder’s agreement or Articles of Association that allow for expulsion and the redistribution of shares. Subject to that you must see a solicitor immediately. Shares are owned by the person who holds them and they can’t arbtrarily be removed without some legal basis. Your director’s appointment is similar. That may also have employment law ramifications if you were actually working for the company as well as the Companies Act implications for their actions. I hope that helps. Please leave a positive rating so that I am credited for my time.

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Customer: replied 10 days ago.
One last question on the above. Is there a time limit on formalising this with a solicitor as the termination was dated 20 October 2017.

No, no immediate time limit, but you should not delay here.