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Terminating a business partnership

  • 17-05-2012 12:57pm
    #1
    Jimmynochoo
    Registered Users, Registered Users 2 Posts: 2 ✭


    Looking for advice on how to dissolve a partnership.
    Company split 50/50, but unfortunately there is no exit strategy in place.
    Have offered fair price to buy their half and also said that I would sell my half, but they refuse both suggestions.
    Can no longer work with this person.
    What are my options if any?


Comments

  • #2
    ResearchWill
    Closed Accounts Posts: 4,111 ✭✭✭ResearchWill


    If I remember correctly this covered by the Partnership Act 1890 http://www.legislation.gov.uk/ukpga/1890/39/pdfs/ukpga_18900039_en.pdf?view=extent


  • #3
    Kosseegan
    Banned (with Prison Access) Posts: 987 ✭✭✭Kosseegan


    Jimmynochoo wrote: »
    Looking for advice on how to dissolve a partnership.
    Company split 50/50, but unfortunately there is no exit strategy in place.
    Have offered fair price to buy their half and also said that I would sell my half, but they refuse both suggestions.
    Can no longer work with this person.
    What are my options if any?

    Which is it, a company or a partnership?


  • #4
    Jimmynochoo
    Registered Users, Registered Users 2 Posts: 2 ✭Jimmynochoo


    Thanks for replies...
    It is a limited company. Set up with a family member. Split 50/50.


  • #5
    ResearchWill
    Closed Accounts Posts: 4,111 ✭✭✭ResearchWill


    Jimmynochoo wrote: »
    Thanks for replies...
    It is a limited company. Set up with a family member. Split 50/50.

    That is not a partnership, you will need the advice of a company lawyer.


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