My boyfriend and i started an export company 2 years ago. I own 50% of the company. He holds a position as a President/CEO. We do not have a lot of assets but we have quite a few of liabilities owed from creditors. I am not too happy how he is handling the sales and the decision making, it is putting a lot of stress (i feel like i am going to get really sick due to these)on me as most of his decisions have resulted to a lot of failures, mostly on the terms of payments he agreed upon with the buyers, there is no fixed dates when it should be paid hence putting us on the state of being at their mercy seems like which puts us behind all of our obligations to our creditors. He keeps most of the important information such deals, sales and statuses to himself leaving me in the dark.
I have put in a lot of money in promoting the business since we started it for which I have failed to keep records of it. I own all the office equipments, computers, printers, telephone my car which we use to pick up merchandise back and forth.
I am planning in resigning as a co-owner VP, can I keep my ownership but free myself from all the current and future liabilities? The company has bright future but on the verge of failing due to his poor decision making.
I don't want to be involved in any lawsuits in the future.