In starting our own business, at the forefront of our thinking was to offer more than traditional accountancy services and become the "go to trusted advisors" for clients seeking practical, experienced, cost effective solutions to business problems.
Talking of starting businesses, we have yet to come across a business where than are several shareholders, who at the outset are contemplating or deliberately seeking to create problems or disputes.
Unfortunately, in reality, things change and shareholder disputes are common.
We also advise and assist where disputes arise - common causes of shareholder disputes include :-
There are many ways in which shareholder disputes are ultimately resolved. The worst outcome tends to be court action and it can be difficult in any event legally to bring a claim as a shareholder except under the grounds of unfair prejudice. In reality, court action is often too late, money may have gone and the business irretrivably damaged.
Another possible outcome is liquidation. With an otherwise successful business, this is an outcome that really ought not to happen.
A better solution tends to be some form of mediation or where one or more shareholder buys out other shareholders. In the absence of a clear mechanism for this in a shareholder agreement, difficulties inevitably arise. Valuing the outgoing shareholders shares and the business generally is also a highly contentious area.
In any of the above scenarios, the fact that we can offer accountancy, legal and strategic advice and input from one source offers many advantages, not least including costs.
Limited company directors often find themselves in challenging. complex or awkward situations and getting some good external advice can provide clarity, peace of mind and potentially also protection from later challenge or criticism.
Our financial and general business experience and background means we can offer a rounded view on difficult issues but we also offer legal advice and services. Common ways we assist companies and directors include :-
Contact us to discuss how we can help.
If you are a small business in need of independent legal advice and need help and advice on resolving a shareholder dispute, please get in touch with us.
Rachel has a wealth of experience in corporate and commercial law, having worked in practice and in-house since she qualified in 1993.
Rachel runs our legal team at Accounts and Legal, and specialises in drafting bespoke commercial contracts, shareholder's agreements, loan agreements, commercial leases and share option schemes.
Her colleagues also have specialisms in employment law and intellectual property, and cover the full spectrum of disciplines required by entrepreneurs and small business owners.
So if you have a specific requirement, or think you might benefit from a company health check, please don't hesitate to drop her a line.