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If two business partners, 50/50 shareholders, are in

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If two business partners...

If two business partners, 50/50 shareholders, are in disagreement, how can a dispiute best be resolved, after talks between the parties have been exhausted? There are no shareholder agreement in place unfortunately, so CAN one party force the other to buy one out?

Lawyer's Assistant: What state are you in? It matters because laws vary by location.

NSW

Lawyer's Assistant: Has anything been filed or reported?

No, nothing, at this stage it is a simple disagreement on a process, where one feels like walking away, if the other forces this decision through, which is unacceptable to the other party

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

That should be it

Submitted: 5 months ago.Category: Australia Law
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Answered in 5 minutes by:
3/9/2018
Solicitor: John Melis, Lawyer replied 5 months ago
John Melis
John Melis, Lawyer
Category: Australia Law
Satisfied Customers: 3,523
Experience: Principal Lawyer at Legal AU Pty Ltd
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Hi, my name is***** solicitor in Melbourne. Thank you for using Just Answer, and I will answer your question today, and ask various questions to narrow the issues in your post raised.

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Solicitor: John Melis, Lawyer replied 5 months ago

do you have mediation clause in the constitution ?

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Solicitor: John Melis, Lawyer replied 5 months ago

The company has implied rules under the Corporations Act 2001, and if there is not adopted constitution, the implied constitution under the Act can be used for the mediation process.

The first step is to engage a lawyer to act for the parties in relation to the dispute and if that cannot resolved amicably, the next step is to commence proceedings in the Supreme Court. This court is the one that has jurisdiction to determine corporation disputes.

The best outcome is to resolve the matter amicably with the assistance of a lawyer.

Please tell me more about the dispute in question.

You can come back to this post any time to ask questions and there will be no further charges to you.

Don’t forget to rate me 5 stars and thank you for using Just Answer.

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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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