Business help and advice forum for starting and growing small businesses - Teneric Business Forums
Login Register FAQ Search Today's Posts Mark Forums Read

Reply
 
LinkBack Thread Tools
(#1)
Old
DaveK Offline
Business Planning
 
Posts: 1
Join Date: Dec 2006
Stolen Shares and Abusive Partner Behaviour - 15-12-2006, 02:11 PM

Hi There

I wonder if someone could give me some advice.

I was a 50/50 partner with my Father in a company whos sole business is internet based sports stats. He started it as a hobby but wanted me onboard to push it on as a business. I am the IT and business guy he is self confessed that he cannot push the company onwards as business. Everything the company is has been written or negotiated by myself.

I wrote all of the software, to be honest my Father did not do much more than enter data at the weekends.

We have had a disagreement as I am fed up with putting in 90 hour weeks on top of my day job, whilst the partner does 20 hours in total but expects 50% of any profit despite also agreeing verbally that we would take salary as per our Job Market worth.

I have left, thinking we need to come to some agreement over my software and my shares and I am of course very ameniable as its my Father but at the same time require something for my hard work. However I am now in the position where:

1. My Father has actually never transferred any shares to me and owns 92%.
2. He refuses to allow me to resign as a director.
3. He feels all my software is owned by the company.
4. Whilst he refuses to let me resign, he threatens me to either continue working for the company, or he will bankrupt it making me jointly liable (knowing I have a lot more to lose than him due to needing to be a director of another company)
5. He has also messed up the Web Server and is blaming me for this by slanderously stating that I have done this maliciously not him.
6. At the first hint of the argument, he blocked me out of all banking, credit cards, website admin areas and pretty much everything.
7. He is now using his "Unethically" Obtained position to force-negotiate me into doing all sorts for him before he will let me walk away.

I am finding his threatening behaviour very upsetting and I am now off work from my day job with stress.

Does anyone else have a similiar experience that could help me?

Is it worth going to court to get my 50% shares, it is clearly demonstrated in many emails over the past 2 years and I would have 2 witnesses.

I have "Self" resigned as a director using a J288b form and Companies House have accepted this in Good faith. Is this enough to keep me from being liable now?

Can I be liable as a director if I am being given no input into any decisions at all?

Is there anything else I can do?

I know this sounds like a fairy tale and I know I should have got my share certificates etc but you tend to trust your Father.

The company makes £20K PA, but has opportunity to make more, My Father is the "Chairman" with a casting vote which is pretty much the only non standard statement in the articles

Any help would be greatly appreciated

Regards

DaveK
Reply With Quote

Reply



Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On



Powered by vBulletin® Version 3.6.4
Copyright ©2000 - 2008, Jelsoft Enterprises Ltd.
SEO by vBSEO 3.1.0 ©2007, Crawlability, Inc.