Legal Question in Business Law in United Kingdom

i set up a company 12 yrs ago putting all the money into it from my personal account i was company director and my partner at the time i appointed company secertary for this position i gave him 10% of the shares and the remaning 90% to myself. we split up not long after starting the company and decided to disolve the company when all the assets were disposed of i did this and gave him his 10%. at this time he threatened me and blackmailed me while i was unwell (mental health probs) to giving him 50% of the company. the next day i stopped this at the bank. He is now taking me to court saying we had a verbal agreement to set up the company 50/50 as he says he put 50% of the money in, whitch he never. where do i stand and what do i need to do to prove it was 90/10


Asked on 5/27/11, 8:16 am

1 Answer from Attorneys
Arent Lievens Advocates Lievens & Lievens

A lot more information is needed for a decent answer. A lot also depends on the proof available.

Who's money set up the company is not all that important, if at a later stage there is an agreement on 50/50. Proving blackmail, mental health problems, etc. is quite tricky. Especially when your mental health problems disappeared the next day to block the bank.

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Answered on 5/30/11, 3:53 pm


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