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I am director of a company where I also own 50% 0f the shares. My partner is refusing to give me access to the company bank account or any of the transactions he has made. Where do I stand?
What are my legal rights as a director. Can I contact the bank directly? Can I wind business up if he refuses?
Thank you for your question.You are entitled to the information you seek and can ask the bank for copies of statements etc.
Your ultimate remedy is to threaten to go to the court for an order to wind up the company on the ground contained in the Insolvency Act 1986 that it is just and equitable to do so. That ground is generally used where there is a dispute between the members of a company or where one party needs a liquidator to scrutinise the way the company has been run.
Happy to help further. Note that the mere threat of this is often enough to bring an errant director to the table and cooperate.
I hope this helps. Please leave a positive response so that I am credited for my time.
The feedback is very useful thank you.
I have one more question in relation to the bank.
Can I ask the bank to stop any more transactions going through without both of our signatures?
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