Problems with my co director

Nitramyelood

Hi All
i have a query
I am a director of a small company and there is one other director
My role is basically technical and my partner is customer facing , covering contracts, sales pricing etc
I have found out that he has created a another company where he and his wife are Directors and that he is basically using this company to fulfill the orders (not all though)
he has frozen me out and wont enter any dialogue
i cannot access any equipment and i am not now working in the business(i still get paid a salary)
I am very worried that there are other financial irregularaties ie working for cash etc and would like to know what am i liable for
i spoke to my solicitor and basically they said they is little i can do without cauding a heap of trouble for myself but how can this be
any suggestions greatly appreciated
Nitramyelood

Denny_Crane

Sorry to sound harsh, but exactly what do you see as the possible outcomes/solutions here?

You're either in dispute involving solicitors or you can work things out amicably. It doesnt sound like the latter is an option anymore.

Nitramyelood

Hi Derry_Crane
I want my partner to buy my share out(only what i am owed want to see the back of him!)
i also want to make sure the affairs are in order -don't want the revenue involved

Denny_Crane

You'll need to get a solicitor involved I'm afraid. The fact that you have suspicions that revenue might need to be involved could be damaging later on if you don't do something now. Not an expert on Director's duties, I'll be the first to admit.

Ferrari3600

Does the company have an accountant and have you discussed the matter with him/her?

Nitramyelood

Hi Ferrar13600
The accountant is waiting out of it
it seems my partner doesent care and uses the company to get work then uses his company to fulfill the work
existing business comes through our company and the money is then removed just shortly after its lodged and suppliers are paid via his new company
surely there must be conflict of interest violations if nothing else
i know little of the law in this matter

hullaballoo

Solicitor time.

That's the long and short of it. I deal with cases like this all the time and there's a risk to you personally if you don't handle this with professional advice. When I say risk, I mean it's a certainty without the above of a solicitor.

nuac

Mod
Sorry cannot give legal advice here.

If the company solicitor will not get involved you need to consult a solicitor wth business experience

I will leave the thread open for now for any general comments consistent with rule re legal advice

Ferrari3600

As a general comment, when disputes of such a nature arise, it is worth documenting/filenoting all interactions with your business partner and his associates from now on (if you are not already doing so).