Brothers and Business Partners at Odds over Medical Facility Investment
Two brothers investing in a medical facility at odds over entrusting shares to a third party that has jeopardised the future of their business. A Shareholder agreement could have included clauses to ensure both parties are happy with anything outside the scope of the business. Now with a multi-million buyout on the table and neither shareholder wants to sell or needs to leave the business.
- (1888PressRelease) December 04, 2018 - How One Irish Business Attempts to Prevent Further Anguish with the Launch of the New Shareholder Agreements Website
Recently in the news, two Irish brothers were at odds after investing in a medical facility. The row ensured over an agreement to entrust shares to a third party, now the future of the business and their relationship is in jeopardy. With a multi-million buyout on the table, neither party wants to sell or leave the business. Problems like these could have been avoided had there been a shareholder’s agreement in place that included clauses to ensure both parties are happy with situations outside the scope of the business. These provisions can be accounted for in an agreement to avoid damaging the company or to simply draw out terms for an equal parting should the parties go their separate ways.
ShareholderAgreements.ie launched on the 12th of October 2018 a new website to streamline the process of establishing a shareholder agreement for new or existing companies. Never has it been easier to put an agreement in place to govern a start-up and cover any eventuality faced by shareholders in a business relationship.
A Shareholder Agreement is a detailed agreement amongst the shareholders of company to which a company refers to when working through any kind of significant decision. It covers a broad range of topics and eventualities that can occur over the life of a company. Intricate voting rights, what to do when a shareholder wishes to leave the company, how to deal with disputes and the wider protection of your investment can all be included along with much more. In essence, any aspect of business interaction shareholders will have over the course of conducting business can be prepared for with a shareholder Agreement.
For many years a Shareholder Agreement has been an impractical tool for a business to put in place due to overheads and the burden of work involved. The team at ShareholderAgreements.ie have specifically designed their new website to demonstrate how easy and cost effective it can be to secure the future of a business. ShareholderAgreements.ie cuts through the heavy legal jargon and guides a company through the drafting of a bespoke agreement perfectly suited to each start-up.
Commenting on the launch, Philip Hayden, Compliance Manager at ShareholderAgreements.ie spoke of the buzz surrounding the new website, “it gives Start-Ups and Entrepreneurs an easy to understand, accessible way of putting this essential component in place. We are seeking to make securing a business straight forward and cost effective for everyone, not just large companies”.
Located in picturesque Dublin 7 offices, the team at ShareholderAgreements.ie have over thirty years of experience in the industry and, identifying a need in the market, have developed this new website to cut down on the amount red tape and high cost base surrounding putting an agreement in place. As a nation, Ireland is consistently striving to make it easier to conduct business in the country and at ShareholderAgreements.ie this modernised approach is reflected in how easy this new site makes it to tailor an agreement specifically to a business.
THE BLACK CHURCH
ST. MARY’S PLACE
DUBLIN 7
D07 P4AX
IRELAND
E: contact ( @ ) shareholderagreements dot ie
P: +353 1 2405277
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