Company is run under family trust account with 33% shareholding of 3 partners. I am assumed as silent partner, but still a director and shareholder of company.
One of the director is acting as company sectretary and looks after all the financials. He makes all his decisions without consulting other 2 directors. He decided to take out x amount as his salary which i didnt agree, but as he is the one who is making all his decisions, he still wants to take out that salary without putting anything in writing.
I am bit concerned with this all as I am never involved in any management related or operational decisions. I have decided not to continue with the company anymore, without going in anymore hassle.
Now taking in account that company is doing pretty good and doesnt have any loan or anything like that.
1. I want to know what options do I have to cease my directorship with drawing at atleast what I initially invested?
2. Company is under a lease agreement for next three years where I am guarantor on the lease contract. Will ceasing directorship ceased me as guarantor or do I do get more paper work involved?
3. What other possible liabilities do i need to think of?
Please help I want to be out of this ASAP.
Much appreciated.
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