Partner Issue Tier-1 entrepreneur

[Emirates]

Dear Marc,zimba,CR001 and other seniors.

I need urgent advise. we had our successful extension in Nov 2017 as a team but before few months of extension partner went for ILR 10 years and since then His contribution is 0 for the company. I am getting the contracts and paying the expenses.

Now the question is He is asking me to remove him from the company which we have agreed and I will remove him in coming few days. What will happen with the investments of around £60k made in the business.

1) Now my ILR 5 yr is due in march 2019 so do I have to show that I have invested another £25 k in the business as a director loan if the partner leave?

2) once He leave the company He is asking for his investments back but the issue is all monies are spent on F&f, and various office employess and work related things? Am I liable to pay him £25k

3) Do I have to inform HO about the situation that partner left and provide evidences?

4) As HO already granted me points for investment in extension do I have to prove this again in ILR as the situation will be changed we applied in team and now I will go for ILR as sole along with my dependents?

5) situation is what will be the best procedure to remove should I transfer the monies £25K from business to back to his personal? And get a wriiten agreemwnt that He had his investments back and He do not have any relation to company affairs?

6) he is not paying company expenses How can I get them from him? Any legal way I can chase him.

Many Thanks

Emi

[zimba]

1) Now my ILR 5 yr is due in march 2019 so do I have to show that I have invested another £25 k in the business as a director loan if the partner leave?

No

2) once He leave the company He is asking for his investments back but the issue is all monies are spent on F&f, and various office employess and work related things? Am I liable to pay him £25k

This is a legal matter not an immigration one and generally depends on the loan agreement and the terms. This why I have INSISTED all the time on this forum to seek legal advice before drafting a loan agreement and avoid cookie-cutter templates as this can have legal implications
As per law and without an agreement, a directors loan should be paid on demand unless such demand can make your company insolvent. Insolvent in this situation means where the company’s liabilities exceed its assets or where it can’t afford to pay its debts as they fall due. Seek legal advice for more clarifications

3) Do I have to inform HO about the situation that partner left and provide evidences?

No

4) As HO already granted me points for investment in extension do I have to prove this again in ILR as the situation will be changed we applied in team and now I will go for ILR as sole along with my dependents?

No. Your application and situation remains separate

5) situation is what will be the best procedure to remove should I transfer the monies £25K from business to back to his personal? And get a wriiten agreement that He had his investments back and He do not have any relation to company affairs?
6) he is not paying company expenses How can I get them from him? Any legal way I can chase him.

There are all again legal matters. Seek legal advice

[Emirates]

Thanks very much Zimba. Mich appreciate your input in this matter.

Regards,

Emirates.

[marcnath]

Thanks very much Zimba. Mich appreciate your input in this matter.

Regards,

Emirates.

Agree with @zimba 100%