Hi
We currently have two directors in our company. The other director wishes to resign basically immediately. The company has not made money (yet, hopefully!). There are two issues:
- We have both invested funds in the business as directors’ loans - what is the status of his investment when he resigns?
- We have an ongoing obligation for the company to pay (late filing penalties) which we have agreed will be jointly borne by us - each of us has to pay a certain amount each month into the business, which then pays the penalty. How should this be handled for the future?
Thanks!