There is no partnership agreement of any kind in writing. Only the company.
The company is an "A Company Limited by Shares", and there's a booklet outlining the "constitution".
In the booklet, there is point 10 203A, stating a director can resign.
My concern is that I am one of the guarantors for the mortgage on the building complex.......... My understanding is that unless the other director signs a release, and then subsequently Suncorp Metway accept the release, then I will continue to be liable for that loan. And that's my worry/reason for not walking out earlier.
It's now gotten to the point though where I can't stay. It's killing me physically and psychologically. I get bullied and harassed over not taking more responsibility (as it is I handle ALL the admin, books, finances, rostering, ordering, sales, tax, probs, situations etc, as my business partner has no idea about anything but working as a short order chef in our shop. I set the shop up, the layout, the systems, the suppliers, the till, the menu etc, etc. But now he overules me at every turn. Aside from the upsets over it all, he has increased the food portions no end to a point where our supply costs are 45%. We have our shop in one of the units we own and we don't take wages, at all.....Hence it being convenient to "make" me stay, all the while saying at the end of the day he'll be taking extra profits because I don't pull my weight and "everyone knows it"
Given the scenario, is there anything I can do to get out of this without future liability?