Asking for a friend ( Business Question )

[Fringe]

My Friend owns a Company with another person ( 60% vs 40% ) my mate who owns the larger proportion of the company has been trying to take the business to new hights but has received a message from his business partner today asking for a meeting on Wednesday. stating that he wants to discuss the Future of the business and as it stands he is not happy with the way the business is being run / his current position. My friend has messaged him back saying that he is busy on a job on that morning and the meeting must happen at 9am on Wednesday.

So the question is , from the sounds of this message he is bringing someone with him to the meeting and that's why it must happen at that time. is my friend able to dismiss the person that turns up with him as its a business meeting between directors or walk away stating that he does not wish to discuss things with someone that has nothing to do with the company ?

what steps should he take with this ?

He has been running the business fine for 6 years hand in hand with his business partner but he has had to pull more of the pressure towards himself as there have been a lot of decisions made by his business partner without discussion.

 

[Fringe]

As above.

Your friend has the right to the meeting agenda and to know attendees.

Beyond that, you’ll need to write a cheque to get the other shareholder out of the business, that’s just how it works. I’ve been there.

TBH my mate is wanting to sell his 60% but needs to have a job lined up ready for it. i think the thing is he is worried about is that he has no idea what hes walking in to.

 

[Fringe]

i have spoken to him to feed back hes going to the meeting and will not agree to anything.

on the flip side of this it came from a phone call last night where he said the phone call was heated between both parties about staffing , my friend in the heat said i own 60% of this company you need to respect that. he was then told after the fact he would regret that and that he was on loud speaker ? seems off but interested to find out more.

 

[Fringe]

tbf knowing them both they are drama queens

 

[Fringe]

So update after a lengthy chat with him tonight he's going in first with he wants to sell his 60% he said he's done with owning and running he's been offered an opportunity with a company he used to work for and he's going to take it. But will update on Wednesday once I know.


It's like a very bad drama film lol

 

[Fringe]

update meeting is not going ahead tomorrow as it came to blows today. Business partner attacked my friend , charges are being pressed and company is going to be either sold or dissolved

 

[Fringe]

well thats not good.. hope friend is ok and not to banged up.
maybe for the best to sell?

hes fine tbh the kid didnt hurt him , my mate did well not to strike back think it would have had a total different outcome.
yeah the sell is best but its finding someone to buy it a company he used to work for has offered him a really good job i told him to take it