Why the client needed our help
Our client was a shareholder and director of a foreign exchange (FX) company who was disturbed by some of the actions of his co-directors. The company had overseas offices and was growing considerably but our client had serious concerns regarding its compliance as an FCA-regulated entity, and about risks to his interest in what was a quasi partnership.
The client had a young family and this was a business that he had built up over several years, with many of his co-directors/ co-shareholders joining later on. He had great concerns regarding possible failure, particularly in light of difficulties the company was facing with HMRC. Matters had escalated when our client was, as the IT director, prevented from performing his role and having access to IT systems and then later suspended as a director.
How we helped
We immediately investigated his grounds for complaint and entered into correspondence with the directors / co-shareholders and company.
The issues of loss and unfair prejudice to our client were addressed together with the risk of enquiry by HRMC and the FCA.
We eventually achieved settlement of the dispute in the sum of several million pounds payable over a relatively short period of time (reflecting our client’s concerns regarding business viability), allowing our client the freedom to pursue his other business interests and support his young family.
Francis Wilks & Jones were responsive, available at all times to deal with any of my queries and very reassuring. I would definitely recommend them to deal with proceedings brought on behalf of shareholders – they understood our practical needs.A shareholder we helped bring unfair prejudice proceedings against a fellow shareholder who had been interfering with the management of the company and damaging its value