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Removing a director

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    #62
    Water John
    Registered Users Posts: 21,461 ✭✭✭✭Water John


    Fin, if your tired can I suggest you go to bed.


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    #63
    Kat1170
    Registered Users Posts: 3,623 ✭✭✭Kat1170


    TheFin wrote: »
    yawn

    Exactly how I felt when I saw your post :rolleyes:


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    #64
    DubTony
    Registered Users Posts: 3,269 ✭✭✭DubTony


    Interesting thread.

    OP: We started a business and one of the guys who helped us get up and running doesn't do any work, doesn't get paid but we'd like to f*ck him over. But it's ok, cos we already paid him his investment back.

    Reply: Yup. Here's how you do it.

    Reply: Here's another way.

    Reply: Jesus lads. You can't do that, it's not nice.

    Reply: Who cares? And they can do it if they want.

    Reply: I don't think so.

    Reply: Legal - legal - legal

    Reply: More legal - more legal - more legal

    OP: Howyiz, I'm back. Actually - We didn't start the company. The guy we're trying to screw over did with the other fellah. He's a bit of a knob who had an idea we thought was good enough to run with, so we took his money and set ourselves up for the future. Now we're trying to steal his idea, add a few of our own, and leave him licking his wounds. It's not like the business makes a fortune, but I have a full time income from it and so does my friend - cos we know the stuff that he didn't. So it's his own fault.


    I think that about sums it up.

    Nice one.


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    #65
    zig
    Registered Users Posts: 1,206 ✭✭✭zig


    Wrong thread?


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    #66
    Water John
    Registered Users Posts: 21,461 ✭✭✭✭Water John


    Tony, you seem to have a special gift. I think its reading between the lines or something but they are lines I haven't seen at all.


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    #67
    mrawkward
    Registered Users Posts: 498 ✭✭mrawkward


    Tony, not my take. Dude lends money to what turns out to be a zombie company of no value. He hits a bit of luck by getting his stake back. The lads want to move on to something better with some return on their work. Dude puts a looney number on his stake. Consensus advice from here, try to get the dude to agree to a fair number or fcuk him.


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    #68
    Water John
    Registered Users Posts: 21,461 ✭✭✭✭Water John


    ward that's your opinion, not the consensus of the posters.
    Some agree and others disagree with you.


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    #69
    mrawkward
    Registered Users Posts: 498 ✭✭mrawkward


    Those with little direct experience of putting money into startups will probable view the commercial commentary on here as overly harsh. The reality is that it is extremely rare to ever see a penny back from any company that does not attain a decent level of succces, unless there is a juicy sale.. another rarity. 50% fail, 30% become zombies and 20% if you are a good picker/lucky at selection give a return, very occasionally spectacular.
    This business has not flourshed, the dude got his stake back and might get a few bob on top. In my book, winner winner chicken dinner.


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    #70
    Kat1170
    Registered Users Posts: 3,623 ✭✭✭Kat1170


    ^^^^^^^

    Yeah, but my reading of it is that there is a very good chance that it is about to become part of the 20% and they want him out before it does.


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    #71
    mrawkward
    Registered Users Posts: 498 ✭✭mrawkward


    Kat1170 wrote: »
    ^^^^^^^

    Yeah, but my reading of it is that there is a very good chance that it is about to become part of the 20% and they want him out before it does.

    The OP has indicated that the opportunity was in a new area and given the lack of involvement in the business they want to move on without his involvement. They appear to be willing to do a reasonable deal but if they guy does not wish to play ball, they have been given a variety of alternative options to explore. Without the full detail, it is impossible to offer more than info on the options to be considered.


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    #72
    zig
    Registered Users Posts: 1,206 ✭✭✭zig


    Kat1170 wrote: »
    ^^^^^^^

    Yeah, but my reading of it is that there is a very good chance that it is about to become part of the 20% and they want him out before it does.

    Well I guess this is true really though isnt it, as in thats the problem at its very core.

    But you make it sound like we're taking the greedy option. Whereas in reality the motivation for all of us is what is actually fair, and what is actually legal.

    To think that we invested the value of 20K each (albeit in hours), not to mention kept it running since then, giving it our all when it was verbally agreed it would be all of us involved., ot to mention the fact that he has been non existant in his involvment from day 1, I don't think its unreasonable at all for us to want to move onto new ideas without him.

    All legal/business things aside what it actually feels like to me right now is that there is a random guy out there who sort of let us down who we need to give a load of cash to just so we can pursue new ideas in business, ideas that arent even the same as what the 4 of us originally set out to do.


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    #73
    StupidLikeAFox
    Registered Users Posts: 7,711 ✭✭✭StupidLikeAFox


    mrawkward wrote: »
    The OP has indicated that the opportunity was in a new area and given the lack of involvement in the business they want to move on without his involvement. They appear to be willing to do a reasonable deal but if they guy does not wish to play ball, they have been given a variety of alternative options to explore. Without the full detail, it is impossible to offer more than info on the options to be considered.

    Im sure a lot of Apple shareholders have no clue about technology but they are happy to own part of a successful company. Im sure this guy is holding onto his shareholding in the hope that it will be worth money someday. I don't think I would give it up if it looks like the company is growing


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    #74
    mrawkward
    Registered Users Posts: 498 ✭✭mrawkward


    StupidLikeAFox wrote: »
    Im sure a lot of Apple shareholders have no clue about technology but they are happy to own part of a successful company. Im sure this guy is holding onto his shareholding in the hope that it will be worth money someday. I don't think I would give it up if it looks like the company is growing

    It seems unlikely that the expansion will take place in the current company as long as Mr4 is still a shareholder. Good on you OP for at trying to sort it amicably first.


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