-
Hello peeps.
Can anyone provide any advice on how to dissolve a startup partnership without shutting down the company and/or ending up in court? I’m keen to talk to anyone who can provice good advice.
Thanks
Niall
5 Comments-
-
Hi Niall, Cristian Oancea, Roland Szabo, Ezequiel Sarra, Lorenzo Espinosa, Jules Haughey, Oliver Burt, Mike Smales, Jacob Lehman,Deepak Kasthwal, Toby Sawyer, Chris Bracegirdle, Katie Hudson, Christian, Andrew Bartlam, Ice White, Solene Oudet, Jenny Collins might be able to offer some advice
-
I am not an expert, but here are some thoughts prompted by your post:
You have a company and a partnership? Or just one entity?
How old is it?
How many partners/shareholders/directors?
Has the entity traded?
Does it have assets and liabilities?
Is the windup amicable?
My advice is – get professional advice, get this wrong and it could come back to haunt you.
If it is straight forward/amicable, I have found 1st Formations good – https://www.1stformations.co.uk/
Otherwise, you need a solicitor, as I am sure you realise.
-
Thanks James
There’s probably a case study in this on how not to do it, but to answer your questions:
You have a company and a partnership? Or just one entity? – Company although I am the sole shareholder as the arguments around who would get what shreholding were never resolved.
How old is it? – 6-8 months
How many partners/shareholders/directors? – Technically just me.
Has the entity traded? – No. I want to make the change before we get the application built.
Does it have assets and liabilities? – Just a half built application
Is the windup amicable? – Er . . . I would say, at the point where I officially announce my intention, the usual bad behaviour will be dialled up to 11.
Happy days!
-
-
I’m not an expert Niall Brady but would happy to discuss this at our Pathfinder Check-In on Monday