Can I forcibly buy out a business partner?

Question

I am considering buying out my business partner in my limited company. I own 60%, he owns 40%.

However, he is not replying to my messages - he is a very slow unreliable and somewhat lazy person - which is why I want to buy him out.

I can't wait any longer for him to drag his heels as I need to get on with my work and resolve the situation.

My question is - can I forcibly buy him out under UK law?

It is a very small company and I cannot afford solicitors.

Answer 1

If not contract for parternship was signed, you might find it diffiuclt. You can try and get a good contract drawn up (see link below) which might push them in the right direction.

Answer 2

One thing is clear - he is not your business partner if you trade through a limited company - he is a fellow director of the company. Look in your memorandum and articles of association - it should tell you how to remove a director, or alternatively under what circumstances you can dissolve the company, which may be your only option.
See the Companies House website and they have a helpline as well.

Answer 3

Its understandable that you cannot afford a solicitor but if you mess this up you could lose the whole business - please ask a solicitor for advice at least :) normally you can get an hour free----- It could save you everything in the long run :)

Answer 4

straightforward incidence! :D i might the two positioned them on 2 plates and convey regret for their visual appeal, or throw them the two away and get new ones. No way ought to I consume 2 extensive squashed cream brownies on my own!

Answer 5

Not sure if you can force it, you need to get legal advice.

Answer 6

i think no