Limited / self employed

[VectraMan]

he is the majority share holder and i have not taken shares through worry of being liable if/when it goes down the tubes.

You don't have any shares? What do you get out of this?

As a director you're potentially liable, shareholder or not. Ignorance is no defence, you should have been keeping a closer eye on the company. You'd be better off being a shareholder and not a director.

Reading between the lines, is this another husband and wife / no need for formality as we'll never split up / tulip hits the fan when we do story? Sounds a bit like it.

[blache]

and see all my hard work go up in flames, thanks for responding though.

Horse walks into a bar with a set of jumpleads, barman says "i can deal with the long face but i don't want you starting anything".

guess i need to go to a legal site!!

Cheers

[Ardesco]

Sounds like your hard work is already going up in flames....

There is a time when you have to accept that the only way forward is to draw a line under the past, salvage what you can and then move on.

[blache]

Your spot on, i have been niave and could have done a lot more from the start to prevent this from happening, however, if i am liable if things go pearshaped then surely i have some rights to try and stop this from going any further, i could still save this business, it is viable, just not with him.

There is another partner who we were in the process of buying out, however, the Director has spent the money we raised for that, i was supposed to take my shares from that transaction. Maybe i should speak to him.

Sorry if this sounds a bit mickey mouse, its all come as a bit of a shock and i wanted to know my options and extend the search to you fine folk.

I would like to get him out, and i would like to do it legally and properly!!

[r0bly0ns]

You can't be "a managing director" - you are THE managing director of your company.

A couple companies I have done work for have had more than one managing director, this is unusual but not unheard of.

Although it could have been a micky mouse job title......

[Rantor]

Your spot on, i have been niave and could have done a lot more from the start to prevent this from happening, however, if i am liable if things go pearshaped then surely i have some rights to try and stop this from going any further, i could still save this business, it is viable, just not with him.

There is another partner who we were in the process of buying out, however, the Director has spent the money we raised for that, i was supposed to take my shares from that transaction. Maybe i should speak to him.

Sorry if this sounds a bit mickey mouse, its all come as a bit of a shock and i wanted to know my options and extend the search to you fine folk.

I would like to get him out, and i would like to do it legally and properly!!

A job for Strutter Direct if ever I heard of one.

Seriously, look out for yourself - if they have been on the make using the company of which you are a director then this could be a problem.

[Let-Me-In]

21:31