Problem / challenge faced
- Client was a “silent” shareholder and director in a building supplies company which was operated by his co-director and co-shareholder.
- Co-director and client traded successfully for over 22 years without issue. Client wanted to retire and cash in his investment in the company and his co-director disputed his entitlements.
Solution provided
We commenced court proceedings seeking orders to enforce the client’s interest in the building supplies business as a shareholder.
At an early stage, we obtained forensic evidence as to the value of the business and the client’s actual pay out entitlement.
We then fast tracked the court proceeding to a mediation.
Results achieved
At the mediation, the co-director agreed to settle the dispute with the client allowing the client to exit the business and be paid out his entitlements at an agreed amount.
