Family partnership problem

[Dd1980]

Evening,
First time posting, currently having problems with a family member with mental health issues and unable to communicate in Farming desisions to be made to the severe detriment of the business.

We are share holders in a limited company and the said person is currently not of capacity to make sound business descions any longer.

Require professional advise on how to remove a director / share holder from the position.

Based in north east Scotland , has anyone been in a similar situation ?
At my wits end with the situation.
Thanks in advance .

 

[Johnnyboxer]

Evening,
First time posting, currently having problems with a family member with mental health issues and unable to communicate in Farming desisions to be made to the severe detriment of the business.

We are share holders in a limited company and the said person is currently not of capacity to make sound business descions any longer.

Require professional advise on how to remove a director / share holder from the position.

Based in north east Scotland , has anyone been in a similar situation ?
At my wits end with the situation.
Thanks in advance .

Speak to your accountant first

 

[Dd1980]

Speak to your accountant first

I have but the other share holder no longer attends meetings.

 

[melted welly]

There was a similar thread a while ago, dunno if any use

Removing a partner from a business

I'll keep this short, one partner in the business is becoming a problem, takes too much financially out of the business and despite several warnings by bank manager and accountant continues to do so and I need it to stop ! There are 4 partners myself, my parents (both in their 70s) and older...

thefarmingforum.co.uk

 

[capfits]

Not aware of company law or the circumstances of your business at all.

Surely in the first instance in these sad circumstances your family member needs help and support.
I would have thought if the mental illness if it has been recognised by medical professionals there maybe something like a power of attorney type arrangement to look out for the interests of the affected individual, whilst allowing the company to run.

Speak to all your business professionals and some of the individuals more personal friends would be my suggestion.

 

[Spud]

Have a chat with Heather Wildman at www.saviourassociates.co.uk - having heard her at a local Monitor farm meeting, I can assure you that her approach is practical, honest and without jargon.
Not an easy position to be in, for either party - good luck