Limited company - dissolve or buy partner out dilemma!

[PGSkeet]

Hello,

I own 50% of a limited company and my business partner the other 50%. We had numerous disagreements and I decided I could not cope with the situation any longer.

I wanted him to buy me out, but when the accountant gave us the evaluation it was totally ridiculous. We have only been operating for 2 years and our margins were very small, spent about 10k on equiptment. However we have acquired (myself personally) really big clients like Amex or British Airways to name a few.

The evaluation we got from the accountant was that the business was valued at £5k - this including all the equipment that we purchased for over £10k, including the website, contacts, etc, etc.

I wanted him to buy me out as I was fed up with the whole situation. The problem is that he also freelances and his own private jobs come first and then company comes second. I am at breaking point. I don't want to be in business with someone like this, and I don't want to throw away 2 years of my life for £2.5k - What can I do? Is there a way that I can force the company to be dissolved? At least the equipment we bought is almost 12k, so half of that would be £6k.

It is really a commitment issue, which he is not prepare to change. I really want to get out of it. I cannot work or get on with him. I have tried my best, everything is fine until he gets a job, and then I am the only one having to deal with the company issues/work.

I would appreciate some advice.

Thanks a lot,

David
david@golocalise.com
Tel 078 3421 3539