Can someone please help

[Nowthefunbegins]

Recently separated after 22 years. Own a business together, both have equal shares with a 3rd person having 10%. We are all directors. The business has been his idea from the start and I joined primarily to do finances but with a very part time role. I am not an expert in the area of business at all. He has emailed me today to say he is resigning as director and all legal and financial and operational responsibility is mine but as a shareholder he still wants equal dividend. I am in complete shock and have no idea what to do.

It really depends what the business is. Can you run it on your own? If you can, pay yourself what the job is worth.

It sounds to me though as if he wants to start up a new business doing the same things as before with the same customers, but not having to account tot you for 45% of the profit, which given the circumstances is what I would advise him to do myself.

You need to speak to a solicitor and take it from there. Get some maintenance set up. Look at the liabilities of the business, and assets, and see what you need to do to stop it going under. Will the 10% owner want to buy it out?