Buying out the other director

[jmo21]

Presumably if he's 50% shareholder then he already owns his shares. Surely that would give you somewhat limited room for maneuver when it comes to closing the company down?

He may have said he's happy to sign it away, but since the OP has asked him how much he'd want, he may seek advice to figure it out.

The OP may be about to find how good a mate this guy really is, and how much of a mistake this has really been.

[EternalOptimist]

50% of the shares
well I have shares in Rolls Royce, but I dont have to do anything. just wait for the lolly to arrive.

You have been too nice Connedtractor, niceness is not a good quality in a director, ruthlessness is much better. Get ruthless, help him when you have your 'mates' hat on, but fook him when you have your 'directors' hat on, the business must come first

why not tell him the Vat man will be coming around soon, and he may have to provide himself with a large jar of vaseline and a nice pillow for biting

[conned tractor]

Update - please 'scuse the beer fingers.

Had a meeting with other director this afternoon, long discussion - lot of bulltulip, going over same ground, etc, he came in all hardball after speaking with someone else (an ex-boss), who has told him that i'm foo-king him over - creating a brand (yep, that flowery tulip - that'd be the bit he done) and then offering to buy him out. Anyhow, he's come back with a figure to buy him out of roughly around 90% of the total monetary investment (a factory fullof process equipment) into the company on the basis that the brand he has created is worth that. If anyone has any input to the value of a brand I would appreciate it (it hasn't sold yet).

Disolving the company will leave some debts but he doesn't give a tulip really - he is already in trouble and any further debt, as he said, will just send him bankrupt, which apparantly isn't the end of the world for him.

I think I'm gonna have to sink this ship. Shame really.

[MarillionFan]

What a dick.

So he's happy to go bankrupt but thinks he's being shafted and so wants 90% of a product that you haven't sold.

Give him his final offer and if he turns it down then **** him. Sounds like you own the equipment.

Btw. If this is something in my area of retail drop me a line via PM for a chat.

[doodab]

What a dick.

If this is something in my area of retail drop me a line via PM for a chat.

So you're interested in my new line of sex toys?

[conned tractor]

What a dick.

So he's happy to go bankrupt but thinks he's being shafted and so wants 90% of a product that you haven't sold.

Give him his final offer and if he turns it down then **** him. Sounds like you own the equipment.

Btw. If this is something in my area of retail drop me a line via PM for a chat.

Exactly...on the advice...of a so called friend.

Your advice mirrors that of the advice of my family also, and we go a long way back so he is close to all in my family also, and most of them think he is being a dick also. I do wonder what his friends and family think...in fact we are going to reconvene on Sunday morning and i've said he his welcome to bring him brother in as he has at least a positive IQ and represents his camp, so to speak.

He wants a counter offer to come back after I laughed at his suggestion - not that I think he would even want to entertain a realistic counter-offer.

Cookoo land man.

[conned tractor]

I own the equipment, in fact the equipment has been bought direct out of my personal money and placed within the industrial unit, so hasn't necessarily been accounted for as Plan B property yet, although it's on the premises...but then so are many of my personal tools.

[conned tractor]

What a dick.


Btw. If this is something in my area of retail drop me a line via PM for a chat.

Sure will MF, but as my missus (doing the job he is moaning about doing and hasn't been able to manage yet) has a contacts in selfridges and tesco in a day of picking up the phone then I don't think it's gonna hack it in a tat shop...but I wish you the best of luck with the sledges.


On a side note...half a bottle of whisky a night has a detrimental effect. If anyone wants one peice of advice, don't go into business with a mate.

[Cliphead]

On a side note...half a bottle of whisky a night has a detrimental effect. If anyone wants one peice of advice, don't go into business with a mate.

Been there bought the t-shirt

[conned tractor]

Been there bought the t-shirt

Sorry mate. Depressing reading isn't it.

Chin up eh, I'm actually quite financially stable....this won't bring me down, it's just a shame....maybe the fact that I give him equal power for no financial input.....and I think it could've actually made a bit of money... not just for me but for him also....fooking muppet.

Edit...oh yeah the whisky....oh well single malt in true contractor stlye...and quite nice it is too.