Why the client needed our help
Our client, a director and 50% shareholder of a company, had been served with a petition to wind up the company on a just and equitable basis by the other 50% shareholder. The petition was based on a deadlock between the shareholders. Our client wanted to object to the petition.
How we helped
We advised our client on the merits of objecting to the petition. We then prepared a letter to the petitioning shareholder setting out our client’s reasons for objecting and how their petition was bound to fail.
Our client was able to make an informed decision as to next steps.
As a result of our robust letter detailing our client’s intention to object to the petition, the petitioning creditor agreed to voluntarily withdraw the petition. This meant that our client did not have to incur the costs associated with a contested petition.
With the benefit of our connections, our client was then able to take professional advice as to the best course of action with the company.
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