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UKSolicitorJA
UKSolicitorJA, Solicitor
Category: Law
Satisfied Customers: 6401
Experience:  English solicitor with over 12 years experience
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I'm in a partnership in a limited company. The shares are

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Hi. I'm in a partnership in a limited company. The shares are allocated 50/50 but I have decided that I no longer wish to be in business with the person. He in passing has expressed an interest in buying my share. I would be open to this, however, the business owes me £5,800 which I would like to recoup plus a £5,000 business loan. Would it be possible to recoup this money? Would my accountant be responsible for valuing my time in the business?
Assistant: What state are you in? And have you consulted a local attorney?
Customer: I live in London and no I haven't.
Assistant: Has anything been officially filed? If so, what?
Customer: No nothing. We have a shareholders agreement in place and that is it.
Assistant: Anything else you want the Lawyer to know before I connect you?
Customer: No thank you.

Hello,

 

Unless you have a written shareholders agreement covering all this, there is no automatic yes or no answer to your questions and you should negotiate these issues with your co-owner with a view to reaching an amicable position.

 

If that doesn't work, then I am afraid you would need to file court proceedings and let the court determine the outcome.

 

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