Business account access

Hew

Good morning. I am a 50% share holder and a director of a private limited company due to my brothers passing away. I would like to see account statements but I am not a signatory. The partner is not forthcoming with any information. Am I legally entitled to see the statements?

Pennywise

Not unless you're a director.  Shareholders have various rights, but the routine right to access accounting records such as bank statements isn't one of the basic rights.  I'd suggest you speak to a solicitor to explore your legal rights.  The starting point is the company's Articles of Association which you can view/download from the Companies House website.  The Companies Acts also give all shareholders default legal rights.  But as I say, unless you're a director, you don't have rights to access bank statements as a matter of routine.

martindow

Hew said:

Good morning. I am a 50% share holder and a director of a private limited company due to my brothers passing away

Sorry for your loss.

Are you sure that you have become a director by inheritance?  As Pennywise says what happens in this situation might be clarified by the Articles of Association, but it does seem that going to a solicitor is going to be necessary.

Hew

Thank you for your replies. I am listed as director on Companies House.