1/3 Shareholder, Director

the only disadvantage to resignng as director is that you are not involved in the business, wont get any fees if any, and you wont know whats going on in the company as a shareholder.

If you can sell or give away your share to the other shareholders then resiging is an obvious option

Resiging as director ???may?? release you from any action taken against the comany i.e. insolvent trading in the future but otherwise has little benefit.

If you can get a release from the bank on your guarantee,(i.e get the other directors to guarantee the debts) and any body else you have a signed a guarantee for, resigning helps but does not in itself release you from your guarantees.

Edited by rambler1 - 29/November/2011 at 14:48

1. how to compel/entice the other shareholders to buy my shares. If they wont, can I get the company wound up, or what other options are available?

You cant make the other shareholders buy your shares and you vant wind up a company if its solvent. So if you cant come to an agreement your other directors . your just stuck with a share you get dividends if any and if the company is ever sold then you get 1/3 of the proceeds efectively. Unless the other directors are doing shonky things to supress you as a shareholder you cant do muc.

2. What is the best way to gain relief from my obligations as a guarantor?

You cant unless you have the agreement of the lender is in writing, or someone else is prepared to go guarantor for you in writing. I assume this is a lending situation and not a guarantee to general creditors.

Edited by rambler1 - 29/November/2011 at 12:11