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Maverick, Attorney
Category: New Zealand Law
Satisfied Customers: 6062
Experience:  20 years experience as a civil trial and appellate lawyer
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I incorporated a company on 1st July The business has not

Customer Question

Hi I incorporated a company on 1st July The business has not yet taken off. I went into business with a friend so we became 50/50 directors and shareholders. It is not working I have covered costs to date and the business is operated from my home. I realise now I am up against it and we can not agree She has planned trips and not interested in working to our business plan and is expecting me to do the bulk of the work. I want to continue the business as full owner and she is not prepared to hand up the business to me. No solicitors were involved. What do I need to do. Your help would be appreciated thanks Ann
Submitted: 8 months ago.
Category: New Zealand Law
Expert:  Maverick replied 8 months ago.

Welcome to Just Answer (“JA”)! My name is Maverick.

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Expert:  Maverick replied 8 months ago.

Since there is a deadlock here, the only real option is to file for a judicial dissolution of the corporate entity; unless you can negotiate a buy-out of her shares. I am not a New Zealand law attorney; but I do not think we have any of those. So, this is some general guidance for you so you know how corporate law generally treats these situations. Sorry could not be of more assistance.

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