Been trying to get my business partner out for nearly 7 months, now he's ignoring me!

[Liam88]

Hey everyone,

Basically, I have been in a limited company for over 2 years with my business partner. We agreed that having different views for the company around 6 months ago, me still having faith in the company though and him not. As the company wasn’t trading at a plus and basically at a minus still, I had nothing to offer him to come out of the company. After many months of us negotiating on what to do to make it fair he just agreed one day when I messaged him about the whole situation about accepting to come out with no money involved, there and then by messaging each other via iMessage he accepted to come out as a Director and that was all confirmed via email Companies House that I was the only Director. With myself not fully knowing what else I needed to do to have the company fully clear in my name I got in touch with a friend who is luckily a solicitor. He said I just need to get my business partner to sign some paper work he will write up for him to sign and agreeing to fully come out of the company, his 50% shares to be transferred to me etc.

From that day on my business partner hasn’t once responded to me, that being by iMessage, WhatsApp, phone call, email or Facebook messenger. My solicitor done the paper work and I sent the letters to my business partners house for him to sign and put in a prepaid envelope for him to send them back ASAP.

After getting in touch with someone close to him I have just found out he’s going through a bit of a rough stage basically so this is another reason more so on why he’s not in the slightest bothered about responding to me, as of course.. there being no benefit to him anyway.

I feel I’m never going to get in touch with him again and I’m basically waiting on nothing and this is massively affecting my business venture from carrying on.

The risk that I have is that my solicitor said too is that with me being the only Director I am the only one to change the shares anyway but of course (legal rights) I need it on his approval… a signature. If I was to do this anyway with taking into consideration he’s already agreed on coming out of the company and he’s not bothered about helping me out by signing the paper work to give me a hard time what’s the worst that can happen? I just feel (hopefully) he won’t come chasing after me for example say in a year I start doing really well. Can he sue me etc? Is it literally just not worth trying to carry on without his signature to say he’s signed on giving his shares away to me?

I hope this is quite clear to read, any questions please just ask as I know its a pretty sticky situation.

Many thanks,
Liam

[northernladuk]

What do you mean it's at a minus? By how much and how did it get this way?

If you can clear that why not just start another company for yourself and let the old one get struck off. Once it's gone there is bugger all he can do about it even if he could be bothered. Well there might but it'll be too much hassle and cost if there is nothing in it for him.

[simes]

I don't understand the plus and minus bit...

That said, can't You resign as a director from this company if there is nothing in it, and set up a new company?

You can leave the detritus of the former company to buddy boy to deal with and, away you go...

[northernladuk]

I don't understand

FTFY

[uk contractor]

I don't understand the plus and minus bit...

That said, can't You resign as a director from this company if there is nothing in it, and set up a new company?

You can leave the detritus of the former company to buddy boy to deal with and, away you go...

This x 1000 its not like OP has a massive brand name as their calling card is it!

[WLB2018]

Simply shut down the old business and start up a new one - I am sure there are professionals out there who could assist with this easily enough!

[Liam88]

What do you mean it's at a minus? By how much and how did it get this way?

If you can clear that why not just start another company for yourself and let the old one get struck off. Once it's gone there is bugger all he can do about it even if he could be bothered. Well there might but it'll be too much hassle and cost if there is nothing in it for him.

Sorry I should of wrote this more clearly!

It's not a minus, it's just not performing with a turnover. Reason why my business partner has give up putting money into the company and not resulting so soon...

Yeah it seems to only be right on setting up a new company then, as I think he may of had some legal advice too... knowing that when he agreed to come off as a Director and just a shareholder but still at 50% was a trick to be awkward with me and the risk with me carrying on thinking it was all in my name then say in a year or so he demanded a cut etc!?

If this is my only (within reason) option then to set up a new company, when working out a rough estimate how much it would be to set up a new limited company with a similar base setup to this one do you think it's worth offering him that amount to see if he'll accept that knowing if either way I'm about to setup a new company and let this one die he's only gaining a bit rather than nothing on a company that isn't trading at a plus!? Obviously if he says no or still ignores me I'll just carry on to accept this company is done and start planning on setting the new one out...

[Liam88]

I don't understand the plus and minus bit...

That said, can't You resign as a director from this company if there is nothing in it, and set up a new company?

You can leave the detritus of the former company to buddy boy to deal with and, away you go...

Sorry I should of wrote this more clearly!

It's not a minus, it's just not performing with a turnover. Reason why my business partner has give up putting money into the company and not resulting so soon...

Yeah it seems to only be right on setting up a new company then, as I think he may of had some legal advice too... knowing that when he agreed to come off as a Director and just a shareholder but still at 50% was a trick to be awkward with me and the risk with me carrying on thinking it was all in my name then say in a year or so he demanded a cut etc!?

If this is my only (within reason) option then to set up a new company, when working out a rough estimate how much it would be to set up a new limited company with a similar base setup to this one do you think it's worth offering him that amount to see if he'll accept that knowing if either way I'm about to setup a new company and let this one die he's only gaining a bit rather than nothing on a company that isn't trading at a plus!? Obviously if he says no or still ignores me I'll just carry on to accept this company is done and start planning on setting the new one out...

[Liam88]

FTFY

Sorry I should of wrote this more clearly!

It's not a minus, it's just not performing with a turnover. Reason why my business partner has give up putting money into the company and not resulting so soon...

Yeah it seems to only be right on setting up a new company then, as I think he may of had some legal advice too... knowing that when he agreed to come off as a Director and just a shareholder but still at 50% was a trick to be awkward with me and the risk with me carrying on thinking it was all in my name then say in a year or so he demanded a cut etc!?

If this is my only (within reason) option then to set up a new company, when working out a rough estimate how much it would be to set up a new limited company with a similar base setup to this one do you think it's worth offering him that amount to see if he'll accept that knowing if either way I'm about to setup a new company and let this one die he's only gaining a bit rather than nothing on a company that isn't trading at a plus!? Obviously if he says no or still ignores me I'll just carry on to accept this company is done and start planning on setting the new one out...

[Liam88]

This x 1000 its not like OP has a massive brand name as their calling card is it!

Sorry I should of wrote this more clearly!

It's not a minus, it's just not performing with a turnover. Reason why my business partner has give up putting money into the company and not resulting so soon...

Yeah it seems to only be right on setting up a new company then, as I think he may of had some legal advice too... knowing that when he agreed to come off as a Director and just a shareholder but still at 50% was a trick to be awkward with me and the risk with me carrying on thinking it was all in my name then say in a year or so he demanded a cut etc!?

If this is my only (within reason) option then to set up a new company, when working out a rough estimate how much it would be to set up a new limited company with a similar base setup to this one do you think it's worth offering him that amount to see if he'll accept that knowing if either way I'm about to setup a new company and let this one die he's only gaining a bit rather than nothing on a company that isn't trading at a plus!? Obviously if he says no or still ignores me I'll just carry on to accept this company is done and start planning on setting the new one out...