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Hello.
This is a long story but I will try my best to stick to the facts.
I am a 24% shareholder and director of a small limited company, the other shareholders are my friend and his mother.
When his mother came on board she invested money into the business in the form of a directors loan, she holds the majority as far as shares.
About a week ago I was signed off work with anxiety, I informed her that I would be taking a couple of weeks off to get my head straight but she insisted that all company equipment (laptop, keys, notes, etc) would need to be returned to her if I am off work.
I informed her that the company has spare equipment, keys etc but unfortunately she has started harassing me for them, saying she does not appreciate my lack of work ethic and that she never wants to see me or hear from me again.
Today she escalated this by saying she has made the decision to transfer £20,000 of the directors loan to my name personally so I will be held responsible for paying that back.
I didn't sign a personal guarantee but she says she is able to to this anyway. So I guess my question is ... is she really able to randomly transfer debt to another director / shareholders personal name on a whim?* thank you. Sorry for the long build up.
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This is a long story but I will try my best to stick to the facts.
I am a 24% shareholder and director of a small limited company, the other shareholders are my friend and his mother.
When his mother came on board she invested money into the business in the form of a directors loan, she holds the majority as far as shares.
About a week ago I was signed off work with anxiety, I informed her that I would be taking a couple of weeks off to get my head straight but she insisted that all company equipment (laptop, keys, notes, etc) would need to be returned to her if I am off work.
I informed her that the company has spare equipment, keys etc but unfortunately she has started harassing me for them, saying she does not appreciate my lack of work ethic and that she never wants to see me or hear from me again.
Today she escalated this by saying she has made the decision to transfer £20,000 of the directors loan to my name personally so I will be held responsible for paying that back.
I didn't sign a personal guarantee but she says she is able to to this anyway. So I guess my question is ... is she really able to randomly transfer debt to another director / shareholders personal name on a whim?* thank you. Sorry for the long build up.
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