We began our business without the guidance of an effective lawyer. We had no shareholder agreement, a lack of definition of roles and responsibilities and we lacked the skill set to provide proper financial reports. It became a further formula for disaster, when shareholder dissension between those who wanted to grow the business and those who wanted to cash out. On the positive side; we had a unique product and positioning and our impressive sales were managing our bank debt. 

During the 5 years of shareholders dysfunction, several lawyers, accountants and financial experts were consulted to help address the dissension within the group. Although several attempts were made to resolve the complex conflict, we were unable to find any legal representative who provided follow through on our issues.  This lack of management team cohesion caused our Credit Union concern and it pushed for resolution.  Receivership appeared to be a reality even though we were not in a monetary default. Our business was in crisis, we were “lawyer adverse” and negotiations were at a standstill.

Enter Peter Welsh and his support team. Peter had heard about our situation from a mutual friend. His first recommendation was to facilitate an information session with shareholders to clarify our situation, discuss the options that could avoid or lessen the risk and possibly resolve the crisis in the best interests of every shareholder.

After our Credit Union’s letter requiring its concerns be resolved, Welsh warned us we had 30 days to avoid bankruptcy and explained the steps the Credit Union would take to recoup its loan. Every shareholder did not want bankruptcy.  In the weeks that followed, Welsh coordinated all disciplines related to our business, including our corporate lawyer and other legal counsel. He told us he was “always” available by phone or email; and he was,  miraculously providing hands on and seemingly 24 hour service legal guidance that was professional, strategic and tenacious. At times we were concerned about the outcome, but we never once doubted Peter’s legal expertise. Peter Welsh comes across as a pleasant person. He listens, absorbs every detail and then comes up with creative fact based solutions and recommendations to address the global challenges. Peter’s strong suit is his ability to read the opposition and adopt a warrior like behaviour, if needed, to deal with difficult personalities.  Peter moved through the complex steps of a shareholder dispute resolution in the face of and addressing a General Security Agreement, Guarantees and Postponement of Claims, Credit Union releases, payment of indebtedness, releases of shareholders and significant loans, Board Resolutions, Lost Certificate Indemnity, new lease agreement and Minute Book updates with speed, brilliance, compassion and understanding.

We highly recommend the services of Peter Welsh and his team. He not only saved our company from bankruptcy but his dedication and skill set was far superior to other legal counsel involved in our case and his confidence in attaining our goal helped us remain positive throughout the ordeal.

Karen King
Jamie Macfarlane
The Ice House Winery

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