Hi Guys... In a bit of a tricky situation.
I am a 39% member in a cc. i have two other buisness partners which make up 10% and my BBBEE partner is 51%.
We have come to the end of another financial year end (our third one), and the loan accounts do not balance and never have. The member with 51% is sitting with +- R1,500,000-00 in loan account and i am sitting with +-R1,000,000-00 in loan account.
Now. Does his mean, the member with 51% interest need to put the relevant amount of money back into the business to balance the accounts or should the company pay me out?
On the same subject, my business partner is straight down refusing to pay me out the balance (where do i stand legally here)
If these disputes keep happening how do i secure my members interest in relation to what the company is worth on the books, and is there away for me to leave the cc and claim my portion of the company value?
Any help would be appreciated...