celebrityhandbags
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To be honest im in a bloody mess right now with my partner but i suggest go to his house and make him see you - say :
1. Do you want to work / be involved ?
2. Will you sell your share to me so i can move on/forwards,
If he says he wont sel and wont work tell him your going to shut up your side of the business and sit on YOUR butt and do nothing so his 40% share will become worthless. I dont know if you can bluff this but it may scare him - 40% of nothing is not a good idea so he may be forced into selling his share to you to protect his money.
Goodluck ;) |
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sabre780101
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If I was in your shoes I would open another limited company and start trading under your new company guise , once your partner realises his income has gone down and questions this, then this is then an ideal time to point out for minimum effort you get minimum pay and if he intends to continue the partnership then you must draw up an agreement legally making him /her work or dissolve the agreement .Sorry I am not a lawyer so this is purely advice. |
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Steve B
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I assume you own 60% ?
Start a new Company with some-one more reliable.
Pay yourself a reasonable wage from the old Company until there is nothing left. Then dissolve the old Company (sell any remaining assets at a market price to the new Company) |
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deadman
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Go to his house and talk to him about his lack of participation in running the company and say that he needs to pull his weight or you will have to consider you position in the company.
You could opt to try and buy him out or sell him your share and then setup again on your own. Unfortunately you are likely to need lawyers at some point as I get the impression he is not likely to play ball. |
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jillionsing
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I had a similar situation which I let drag on. What I didn't know was the reason they were dragging their heels was cos they didn't want the company to suceed! They emptied the joint bank account & left me with all the mess... so I agree totally with the previous answer- you should resign from the existing company stating your reasons as simply as possible, in writing, then set-up a new company, new name everything! That need not cost a bundle these days- just look in the Yellow pages.
Good luck! |
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robbie2749
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Buy him out then...or if you can't afford to do that...sell him your share of the business and open up your own |
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jdg69@btinternet.com
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Ask a solicitor or better still the c.a.b.(free) and they do have experts in this field.You must know that you either buy him out or disolve the partnership,If I was you my first call would be the c.a.b.put your cards on the table and tell them you need the least expensive way of getting rid of a useless partner.Good luck. |
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Johnny Tan
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I dont know much law, but why not offer to buy his shares over at market rate?
just a suggestion |
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ROBIN HOOD
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Phone
Bond,James Bond |
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bostonianinmo
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Buy him out. That's about it. |
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trickyrick32
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Tell him to take a back seat. he's as good as doing that anyway.
You can take on an assitant manager to do his share of the work on the condition there wages comes from his share of the business. That way, he doesnt have to bother doing any work, can sit back, still reap a financial benefit with someone else doing all the work and worrying for him. |
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