Any solicitors out there who can advise on a business split with partner/director

[Dickyboy]

Need some advice fallen out bit time with my fellow director we have a 50/50 split but no partnership agreement or buyout clause. We have been haggling now for 2 weeks over the other the director buying me out. I have made her a reasonable amount to buy me out just above the accountants estimate but she is refusing to meet that and wants to pay over a year a lessor amount.

Things in the last few days got totally out of hand with her getting really abusive and seems to be losing the plot, presume my only course of action is to appoint a solicitor.

This is really stressful so any advice would be welcome and as it looks like i need a solicitor to protect my interests anyone know a good one with reasonable fees

 

[Dickyboy]

Oh well perhaps I should have put Gus going to stay mind you this is supposed to be a football forum

 

[Beach Hut]

http://www.northstandchat.com/showthread.php?275907-Business-Help-Please&highlight=business+advice

This may or may not help

 

[raymondbriggs]

Fixed assets? stock? outstanding invoices? what is the line of business?
If all you have is trade or goodwill it is worth f@@k all despite your accountants valuation.It is only worth what the buyer will pay.

 

[Gazwag]

You seem unclear if you have a limited company or a partnership. A company has directors, a memorandum and articles of association and a partnership has partners and should really have a partnership agreement to protect the partners, if not then I think the partnership act takes over. It would be silly to seek advise on here to be fair and not try and get it done too cheaply.

 

[Dickyboy]

Thanks for your replies just wanted to see if anyone out there has had the same experience sadly looks as though we are going down the solicitors route were partners but formed limited company cannot do this on the cheap sadly looks like being a dog fight to the end judging on the other director seems to be losing the plot by the day.

 

[Hatterlovesbrighton]

Any solicitors out there who can advise on a business split with partner/direct

How big a difference between your valuation and the accountants? Will it be worth the solicitors?

 

[pastafarian]

its not easy to form an opinion with limited information,but i have been involved in a partnership break up all be it an amicable one,i would strongly suggest you do indeed contact a solicitor ,do everything by the book,it will no doubt be an unwanted expense right now,however you will receive correct advice,and should things come back to bite you months down the line regarding tax implications you will at least have the knowledge you have done everything correctly

hope this helps

 

[Brighton1]

I've been there myself, I would strongly suggest that you try and get it sorted before solicitors get involved as once you start the cost and stress will run away with you. Sometimes it's best to maybe take less than what you think your share is worth for the reasons already stressed. Good luck.

 

[Brighton1]

Your accountant can advise you on the tax implications, not sure the solicitor will have a clue on them..

 

[MattBackHome]

Don't shag her after it's done. Though the temptation will be there, and she'll probably beg you for it, it will only complicate matters.

 

[KingstonSeagull]

Don't shag her after it's done. Though the temptation will be there, and she'll probably beg you for it, it will only complicate matters.

Dude's got a point....

 

[MattBackHome]

Oh, and make sure you get one last shag in before the split. It will sweeten the bad news.