My corporation is in VA
I am in a bind. I opened a corp with a friend of 30yrs thinking it would be no big deal. We have been in business since 6/05 and now run into big problems. My first mistake... I split the company shares 50-50. Second I am the licensed contractor, the compliance agent for specific state regulations and the person that all of the company credit is hinged on. I am responsable for the credit card etc... We have been arguing about who should be responseable for paying the bills and have the power to decide what gets paid and how much. I feel it should be my desicion as it will only impact my personal credit not anyone elses. With that being put out in the open the other owner wants out and will not give up his half he wants to close the company. Is there anything I can do to take over control?
I am in a bind. I opened a corp with a friend of 30yrs thinking it would be no big deal. We have been in business since 6/05 and now run into big problems. My first mistake... I split the company shares 50-50. Second I am the licensed contractor, the compliance agent for specific state regulations and the person that all of the company credit is hinged on. I am responsable for the credit card etc... We have been arguing about who should be responseable for paying the bills and have the power to decide what gets paid and how much. I feel it should be my desicion as it will only impact my personal credit not anyone elses. With that being put out in the open the other owner wants out and will not give up his half he wants to close the company. Is there anything I can do to take over control?