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Hi, Thank you for your question and welcome. My name is ***** ***** I will assist you. Does the company have any assets that can be saved if the company went insolvent? Does it have any long term contracts that would be terminated by insolvency? Would the shareholder sell her shares if the price was right?
Hi, Thank you. You could consider putting the company into administration and transferring the assets to a new company? Have you loaned any money to the company?
Hi, Thank you. What you could do (although there will be some expense to this), is get your friend to put the company into liquidation, form a new company and then try and buy the assets from the old company as a going concern. If you proposed letting the company fail would the other shareholder likely react to this? Kind regards AJ
Hi, Thank you. The only way for her to leave with some money is to accept for you to buy her out - if it is not an option that you stay in the business together, then the end result will be in insolvency of the business. If she cannot appreciate this point, then all that will happen is the creditors will catch up with the company. Does she want to carry on working with you?