To hire solicitor or not?

[penguins79]

Ugh just wrote out my whole post but erased by mistake. My apologies if this appears twice

Back story: I used to be in business with 2 other people. Partner 1 always bullied me and treated me terribly. Partner 2: we always had a good relationship one on one but when there was conflict within the group he would always side with Partner 1

Things reached a breaking point late last year where I decided I needed to leave and we were faced with trying to figure out how to split the business up in order to give me my share.

We all three decided to use mediation and it has been going well. I honestly thought we could finish all this within the next 4-6 weeks

Until this morning. Mediator just called me this morning to let me know that Partner 1 had hired a solicitor who will be joining our call.

I was shocked and called Partner 2 saying I guess I needed to interview some people so I could have a solicitor there just to be fair.

His response was, why are you escalating this? First and foremost we are all friends here and there's no need to involve solicitors that's why we chose mediation. His reasoning that partner 1 told him (she and I aren't speaking) is that she is so busy homeschooling her kids that she just needs an extra pair of ears being in that meeting.

So what should I do? Hire a solicitor or not? Partner 2 is important in this process as ultimately all 3 of us need to agree on this and he seems to somehow blame me for wanting to also have representation there.

But if I don't hire someone I feel like I will be at a disadvantage.

Aibu: don't hire
Yanbu: hire

And what should I do about the fallout and partner 2 to make sure he doesn't totally turn against me?

Legal ears are better imo. Take one.
The friendship is dead anyway....

Hire a lawyer. These friendships are over.

Definitely hire a solicitor. It’s madness to attempt a mediation without lawyers anyway - you need impartial agents to take the heat out and to represent your interests without being clouded by emotion. It doesn’t matter what partner 2 thinks about it - they aren’t looking out for you, they just want a speedy resolution that’s in their interests.

But the reason it matters what his opinion is - he ultimately has more influence (he's much senior, throughout this he has been seen as a calm fair and leading voice)

I'm worried if I hire someone he will punish me in essence by giving me a lower amount since he's viewing it as a hostile action on my part

He’s still siding with P1.

Hire a lawyer, get the best deal you can and cut them out of your life.

@penguins79 tell him it’s incredibly unfair if she has a legal mind and you don’t. However another point on homeschooling etc- if you only do an hour a day or something then it doesn’t interrupt that, maybe suggest a different schedule to help partner 1 do without a lawyer. Do you have anything in your house you could blame needing a lawyer on, parents living with you, a front line nhs spouse, a crying baby, anything you could use as an excuse?

1. Wait. Find out who solicitor is, company name, etc
2. Say nothing in meeting, state that you would like your own legal counsel as you feel that you have not been given notice to prepare adequately and feel intimidated
3. Hire Solicitor with bigger legal balls

Hire a solicitor. You will be screwed otherwise.

It's the Easter holidays?!

Home school is not the real reason and if partner 2 is agreeing with her but not you it is because he is taking sides.

Hire a lawyer.

How much is your share potentially worth? That should be a factor in whether paying a solicitor is worth it - their fees could run into thousands if this is protracted. What’s at stake? Of it isn’t tens of thousands, save your money and get the best deal you can on your own. Don’t waste money if it isn’t high value - I say that as a solicitor.

P2 has no real power here, they don't have ability to decide what you get? They and P1 are trying to back you into a corner and make it your responsibility to be "the reasonable one". Don't buy into it, and I wouldn't be speaking to P2 for now - not in an antagonistic way, it's just best to keep your distance for now.

The difference of what I could receive is £6-7M versus maybe £600k with the rest coming at a later unidentified date when they can have more favorable liquidity

The business is a bit outing but the assets themselves aren't necessarily liquid nor do they want to sell them as they are quite good and now is not the time. The company has a lot of cash so can buy me out without affecting anything - it would essentially mean that rather than the company being owned 3 ways, it's now split 50/50

The options are that my stake is bought out in the company and I have nothing to do with them or the company going forward or I receive a small portion of my share now and retain equity in the rest at such a point as they feel comfortable parting with the cash or decide to start selling assets.

I don't like the second option as anything could happen and they could run the company into the ground. I want the closure and objectively speaking if the cash is there I think it's better for everyone that I leave

Get legal advice

You need a lawyer. The three point plan above looks like a good approach.

I’d definitely have legal representation - it’s Partner 1 that has upped the stakes, not you. I would also email Partner 2 to tell them this, making clear that, as a result of Partner 1’s actions to employ a solictor to safeguard their interests, you have had no option but to go the same. Good luck.

*You have had no option but to DO the same (flipping auto “correct”)

From their point of view it would be unsatisfactory to leave assets in the company owned by you. Effectively that would mean they were working to make you money.

Which puts you in a strong negotiating position OP.

Get a sol and screw their asses for the £7m at least! And stop asking p2 for permission. Be confident and kick ass.

Lawyer up. You have no alternative now.

If you’re talking about millions here you need a lawyer to be involved. Social niceties aside these two are ganging up on you and trying to Fuck you out of your fair share. Did you create a partnership agreement or articles of association with definitions of the relationships and responsibilities etc? These people aren’t being your friends anymore - you need as much evidence of prior agreement in regard to ownership or share within the business and you need a lawyer to be doing the talking for you now. This kind of money needs someone who knows their stuff in negotiations.

How long has this been going one and
Why? Surely at the date you left the value
Of the business is by three one third is yours
And that’s it. Mediation means you can’t agree so surely now you need a solicitor to finalise

Please tell me you've had a lawyer all along just not attending mediation sessions!

You 100% should have a lawyer at the session if those sort of amounts are involved. Fuck the friendship, this isn't a 'second pair of ears'. This is someone having her lawyer (who will have been engaged all along I'm sure) attend to hear exactly what is being said. This puts you at a disadvantage.

The difference of what I could receive is £6-7M versus maybe £600k

If you were talking about a small business with a few £k then mediation would be fine but for these sums you really need to lawyer up! Get a good one.

I think also you can assume that there is no friendship anymore, too. Be civil and respectful, but trust neither of them. They do not have your best interests at heart.

I agree with everyone else. You need a lawyer, especially with those sums of money involved.

You refer to this as a partnership, but also refer to it being a company and having shares.
If you're not sure which, it sounds like you definitely need a lawyer.