Moderately build company director, being done over
Discussion
Hi all.
I have posted here for years but using that account for this wouldn't be wise. I am looking for some advice re my situation having been (what I feel) is done over.
15 years trading as a director.(50/50 with wife who is silent partner) of a firm in a specialist area with great potential but always struggling to find reliable staff to move things forward. Think 3-4 people rather than hundreds.
About 18 months ago I was introduced by a friend to someone who had just fallen out with his boss and was apparently a star in our area. I took him on on a trial basis. Being a total mug after a few months we agreed to set up a new trading name with him as a director, and also another acquaintance of his with his own business.
Long story short we traded for a while as 3 co directors and joint shareholders, then after a while they started shutting me out of everything. Something went wrong at the bank so I no longer had access to the account, jobs I had never heard of were being done. I was completely shut out.
I had had a month off ill, and when I came back they called an EGM. We all agreed things weren't working out and agreed to part ways amicably. I resigned as a director and went back to running my own business while still not having filled the paperwork to hand over my shares.
A few days later I learned that while I had been ill they had been contacting suppliers and customers (of my 15 year old business) and setting up their own new business without me.
Now this information is available to me I wouldn't have resigned so easily if I had known. Can I withdraw the resignation at this point, bearing in mind they wrote the letter and I am still a share holder and had had information held from me at the point I agreed to resign.
I have posted here for years but using that account for this wouldn't be wise. I am looking for some advice re my situation having been (what I feel) is done over.
15 years trading as a director.(50/50 with wife who is silent partner) of a firm in a specialist area with great potential but always struggling to find reliable staff to move things forward. Think 3-4 people rather than hundreds.
About 18 months ago I was introduced by a friend to someone who had just fallen out with his boss and was apparently a star in our area. I took him on on a trial basis. Being a total mug after a few months we agreed to set up a new trading name with him as a director, and also another acquaintance of his with his own business.
Long story short we traded for a while as 3 co directors and joint shareholders, then after a while they started shutting me out of everything. Something went wrong at the bank so I no longer had access to the account, jobs I had never heard of were being done. I was completely shut out.
I had had a month off ill, and when I came back they called an EGM. We all agreed things weren't working out and agreed to part ways amicably. I resigned as a director and went back to running my own business while still not having filled the paperwork to hand over my shares.
A few days later I learned that while I had been ill they had been contacting suppliers and customers (of my 15 year old business) and setting up their own new business without me.
Now this information is available to me I wouldn't have resigned so easily if I had known. Can I withdraw the resignation at this point, bearing in mind they wrote the letter and I am still a share holder and had had information held from me at the point I agreed to resign.
Is all this stuff out in the open between the three of you yet? If it isn't, there's going to come a point when it is if you decide not to walk away. So maybe the thing to do is to tell them what you know, and tell them you've decided to either stay in (or renegotiate your exit), and take it from there.
Agree with the above in some way.
Surely your industry name and relationship with your customers and suppliers means something to them and you. Get phone bashing to each and everyone of them and smooth your side out and hopefully make it very choppy for the others.
Maybe a mass email out initially to stop anything stupid happening, but on the understanding that you will follow up in person over the next few days.
Nothing makes a better impression than a personal call or visit.
V.
Surely your industry name and relationship with your customers and suppliers means something to them and you. Get phone bashing to each and everyone of them and smooth your side out and hopefully make it very choppy for the others.
Maybe a mass email out initially to stop anything stupid happening, but on the understanding that you will follow up in person over the next few days.
Nothing makes a better impression than a personal call or visit.
V.
I love all of these terms like "silent partner" and "tradeing name" which always come up in these threads. Completely meaningless and makes it hard to understand what has gone on sometimes. Fortunately this one is easy...
I agree with the above. You need to fight to win clients and fight again to keep them. No one is owed a living, a order or a business.
I agree with the above. You need to fight to win clients and fight again to keep them. No one is owed a living, a order or a business.
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