Common causes of disputes include:
- disagreements over strategy
- power struggles and poor personal relationships
- conflicts of interest, and dealings between the company and a private business owned by one of the directors
- concern as to whether the board is meeting its legal responsibilities
- concern over financial issues and potential insolvency
- service contracts and remuneration
- a change in personal circumstances of one of the key parties
The solution: Get a well drafted shareholders' agreement in place, and before you fall out.
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