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The mother (51% owner) and brother (24 1/2% owner)
My brother left the business 2 years ago ammicably. I was trying to buy out my mother and my brother and i was unable to get financing. At which time, my mother signed her shares over to my brother and he told me that he was coming back, and he was my boss, and i would be working 90 hours per week because he had another job (and the brother was not going to be a full time worker) at which point i resigned. The problem is i hired, which i thought was a good attorney, i have a pile of attorney's bills totalling $30,000 and i have nothing in the end!!
No stock was handed over and i refused to work under those conditions with him setting the rules, my hours or him being my boss after 20 years in the business.
i maintain my full 24 1/2 % ownership.
When he demanded (after my mother signed over my shares) that i was NOW work ing for him and the hourse were going to be 8-8 Fri, Sat 9-6and 8-2 on sundays that is when i told him that i officially resign from the company.
Once again, i still maintain 24 1/2% ownership of the corporation.
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