Can I get a 50% Stockholder out?

What is the name of your state? FL


I have business that is a S corp in FL. I have a business patner with 50% of the shares and I own 50%. We decided to end our business relationship. We decided I would keep the business and agreed upon the terms. She left the business and has not been back for over a month. She has changed her mind on our agreement and is seeking personal counsel. We were trying to do this amicably until she wanted more money. Anyhow is there anyway to get her out? She is not working and she feels she has some leverage over me by being 50% stock and shareholder. She knows nothing financially of the business and does not understand. We have been in business for 11 years and still does not get it. The business is worth nothing(rough times) and I need to move this business forward. And would like to see what you all said before I start spending thousands on attorneys. I would appreciate any hope or help anyone might have. Thank you for your time and consideration in this matter.

jennyec said:

Anyhow is there anyway to get her out?

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Yep. Read your 'Articles of Incorporation' and/or bylaws to see what options are available.

She is not working and she feels she has some leverage over me by being 50% stock and shareholder. She knows nothing financially of the business and does not understand. We have been in business for 11 years and still does not get it. The business is worth nothing(rough times) and I need to move this business forward. And would like to see what you all said before I start spending thousands on attorneys. I would appreciate any hope or help anyone might have. Thank you for your time and consideration in this matter.

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If the business is worth nothing... why not just give it to her and start another??
Of course, the answer to that is... the business IS worth something. Either in equipment, assets, good will, etc.

Thank you. No, the business is worth nothing;the business is technically bankrupt. I told her I would take on all the debt and still give her money. Personally the business is more to me than what a balance sheet says, since I created it. Thank you so much for your input. I really do appreciate it.