Business Forums : Legal Issues for Business
Nervous about MD's behaviour...By: Minnehoma [24-February-09 9:36PM]1 posts |
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Myself and 3 other guys performed a management buy-out of the company we worked for 6 years ago. Three of us were very naive when setting up and didn't realise the power the other guy would have when he insisted he had 51% of the shares. When we questioned it at the time he gave us the line that someone needed to be MD and that's the only way it could happen. Obviously we know that to be nonsense now but as I said at the time this guy was more experienced than us at this. | |
Re : Nervous about MDSasha Evans [4-March-09 1:45PM] 295 posts |
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Sounds like it might be well worth consulting a lawyer or someone versed in this area to see what exactly could happen so that you can prepare accordingly...
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Re : Nervous about MDPBScott [23-April-09 10:46PM] 57 posts |
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As far as I know since he has 51% he has all the power, he is essentialy your boss. Since he has the largest financial investment in the company, he should hopefully work for the best interest of his pocket book, but you will have to convince him to go your way, you cant force it.
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Re : Nervous about MDLianne West [6-January-10 5:01PM] 407 posts |
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Sounds like this was a tricky situation... did things resolve themselves in the end? | |
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