J
janefong
Guest
We have four shareholders in our company. Business has been bad as we are only a year old. We are making a loss where shareholders are topping up funds to maintain the business, when each time the funds are running low. The main bulk of our money are stuck in the goods as stocks.
Recently, one of the shareholder decided to pull out. We offer him the option of dividing up the stocks between the four shareholders and we close the case. However, he insisted that we must pay him 25% of our existing assets (inclusive of PCs, furnitures, stocks, etc). Our company is registered as a dollar each company and we do not have any partnership agreements. He even insist on getting an evaluator to evaluate the company (as we have potential customers in line). He wants the company to paid for the evaluator and 25% of the company's worth after that. Is there such a law ? Can someone please advise. How can a company still pay for all these when we are not making money? A million thanks.
Recently, one of the shareholder decided to pull out. We offer him the option of dividing up the stocks between the four shareholders and we close the case. However, he insisted that we must pay him 25% of our existing assets (inclusive of PCs, furnitures, stocks, etc). Our company is registered as a dollar each company and we do not have any partnership agreements. He even insist on getting an evaluator to evaluate the company (as we have potential customers in line). He wants the company to paid for the evaluator and 25% of the company's worth after that. Is there such a law ? Can someone please advise. How can a company still pay for all these when we are not making money? A million thanks.