My co-founder, who is a director and 50% shareholder in our business, has just decided to leave the business. She is likely going to work for our biggest client and a week after she resigned, they also cancelled their contract. She denies it’s related but has told me that she has been offered a role there. She has a non solicitation clause in her employment contract too which I think is relevant here.

I am intending to stay with the business but with the big client leaving too, we will now be losing money after they leave and she leaves. The business will be losing money until I turn it around.

She’s claiming that she should get 50% of the cash assets, based on the previous year’s profit, but hasn’t taken into consideration that we are in a completely different financial position now.

Should she still get 50% in this situation if I’m still intending to run the business and as directors, we have a responsibility to make sure that our business can actually survive? I need some time to turn things around and her taking 50% affects this quite a bit.

That’s a bit of a ramble sorry but I’d love to hear any thoughts or perspective that might help me see what’s fair. I do have a lawyer but they’re also trying to aim for me “winning” and I’d rather have a more balanced perspective to work toward. Thanks!