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Ross Miller
Ross Miller,
Category: Law
Satisfied Customers: 1770
Experience:  Director (Litigation and Mediation) at Hilltop Solutions
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My parents owe a private clinic. this share is now between

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hi, my parents owe a private clinic. this share is now between us the two brothers. i am a doctor myself my brother does not wish to be part of this business so he wants to sell on the other hand i want to keep and expand.. theoretically its 50% each practically the whole business and plot is on our parents. what can i do from my side?
JA: Has he talked to a lawyer about this? What country does he live in? If different, what country does this legal question relate to?
Customer: the same country both of us
JA: What steps have been taken so far?
Customer: the parents are trying to find investors to sell which i oppose to as i want to keep my share as a surgeon i want to create my own unit there
JA: Anything else you want the Lawyer to know before I connect you?
Customer: i need to know if there is something i can do to protect my 50% on this without being sold to external investors at any point in time ...

Hello my name is ***** ***** I will be the expert assisting you with this matter today

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Are you and your brother the only two owners or are your parents still part owners?

Customer: replied 12 days ago.
parents are still 100% owners
Customer: replied 12 days ago.
theoretically what they say is 50% each
they want to sell the business as my brother is not currently working
on the other side i am a surgeon
Customer: replied 12 days ago.
its a puzzle
Customer: replied 12 days ago.
i do not wish to sell the business - best case scenario if there is a sale to keep my 50% share
Customer: replied 12 days ago.

So if you parents own 100% of the business, how do you own 50% or was this meant to go to you at a later date?

Customer: replied 12 days ago.
exactly
Customer: replied 12 days ago.
ownership is on parents

Have you been issued share via companies house or is there any other documentation that shows that you own 50%?

Customer: replied 12 days ago.
no -nothing written or documented
all orally agreed
Customer: replied 12 days ago.
the problem is : i am currently working in this business myself for the last 6 years building my team
my brother does have financial issues as he is not working
however i want to keep my business as is my living/earnings/
Customer: replied 12 days ago.
i also give him all the income from the rents from the offices rented by other doctors of our clinic
i only receive from my operations as i know he is in financial need

Ok so from a legal standpoint your parents own the company 100% and therefore if they wish to sell it then there is very little you can do. What you have is a verbal agreement with your parents which are almost impossible to enforce. Even if you can enforce it then you would have to be able to show that you the voting right to not sell the business. If you are working for the business then you will be deemed and employee and if it is sold then the Laws of TUPE will come in which means that any earning rights you have at the moment cannot be changed even if they do sell the business. It is an unfortunate position however, you from employment and earning side of things you are legally protected but in terms of the sale if you parents are the sole owners then they can sell the business.

So you have done the right thing by contacting the bank. You will also have to contact the police and get a fraud incident number from them and pass this onto the bank also. What will happen is there will be an investigation from the bank and the police and if it is found to be fraud then the bank may refund the money back to you. If the police are able to trace the scammers then they will be charged and also you can take legal action against them to recover the money if the bank do not refund it. Unfortunately there is no "quick fix" for this and you will have to allow the bank and police time to do their investigations.

I hope this information has helped. You can find a local solicitor who deals with this on the law society webpage which is;

https://solicitors.lawsociety.org.uk/

I would be obliged if you could Click the 5 stars at the top of the webpage (this will not cost any extra). This will tell the website that I have responded to your question, you can, of course, continue to ask any follow up questions free of charge. I won’t be paid for my time from the website if there is no rating left for me.

Many Thanks

Ross

Customer: replied 12 days ago.
you have done the right thing by contacting the bank. You will also have to contact the police and get a fraud incident number from them and pass this onto the bank also. What will happen is there will be an investigation from the bank and the police and if it is found to be fraud then the bank may refund the money back to you. If the police are able to trace the scammers then they will be charged and also you can take legal action against them to recover the money if the bank do not refund it. Unfortunately there is no "quick fix" for this and you will have to allow the bank and police time to do their investigations.THIS IS FROM YOUR COMMENTS ABOVE HOW DOES THIS FIT INTO MY CASE?

my apologies that is a copy from another issue.

Ok so from a legal standpoint your parents own the company 100% and therefore if they wish to sell it then there is very little you can do. What you have is a verbal agreement with your parents which are almost impossible to enforce. Even if you can enforce it then you would have to be able to show that you the voting right to not sell the business. If you are working for the business then you will be deemed and employee and if it is sold then the Laws of TUPE will come in which means that any earning rights you have at the moment cannot be changed even if they do sell the business. It is an unfortunate position however, you from employment and earning side of things you are legally protected but in terms of the sale if you parents are the sole owners then they can sell the business. This is where it should end.

Ross Miller and 3 other Law Specialists are ready to help you
Customer: replied 12 days ago.
OK NO WORRIES - THANK YOU VERY MUCH FOR YOUR HELP TODAY

You are welcome. I hope that you manage to get this sorted out. If for any reason the clinic is sold and anyone attempts to alter the way things run at the moment then please do get in touch as there are laws called TUPE which give you legal protection to stop new owners from changing anything. I would be obliged if you could use the 5 stars at the top of the page to rate my response. Many Thanks and stay safe.

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