Around 2 years ago I linked up with a Caucasian based in one of the West African Country, we agreed to work together and set up a big power generation company. We incorporate a new company on the basis of 95% share for him (as Chairman) and 5% share for me (as CEO), given the fact that I don't have the initial financial contribution for the new company, I agreed, as all what I want is the reality of the company and the project. Intermittently he gave some money for logistics on requests, and sometimes refusing and quering requests.
I made every efforts in the competitive power sector without his input and I was rewarded with one of the biggest renewable energy power purchase agreements signed and the news spread like wild fire all over the world. With the earlier promise and the assurance my partner gave me that immediately the power purchase agreement is signed everything required (Finance, EPC, Company Office, Logistics, my fixed Salary and Accommodation etc) will be provided to actualise the smooth establishment of the project. With his prompting and agreement I sift through interested Consultants, approved some after his final approval with the intent that they will be activated upon our signing the power purchase agreement. I was shocked that all what he told me earlier were lies, he is now going round looking for EPC, finance, even denying knowledge of some of the Consultant bill, he will make an assignment request but will cancelled it after I've worked on it etc. Any time he come to the Country, he stays in 5 or 4 stars hotel and because of my simplicity I stays in 2 stars hotel (project site and the off taker are up North of the Country while I lives in the South), flies in Business or 1st class. He initially promised that as the CEO I will be given monthly allowance and when the project construction starts my remuneration will be affirmed - this was not honored. Yet he is now complaining that a lot of his personal money has gone into the proposed project. Our constant and everyday communication had been cut by him to periodical.
What do I do now? Do I withdraw from the partnership and how do I go about it? What do I stand to gain or loose if I withdraw?

Advise will be highly appreciated. I feel being used and dumped, he has turned me to a lier to the network I've created in the power sector.

Get a lawyer for the next line of action

Illuminatus:
Seek Legal guidance. I cannot stress this enough.

What you should do would depend on whether the agreement you had with this person was in writing or merely oral and how far you are willing to go to make sure that this business is actualized.

If the agreement isn’t in writing, your options becomes more limited.

If they are in writing, you can then proceed to sue him (this would be very important for the steps you would take afterward) for breach of contract and try to get him to either perform or pay damages.

Alternatively, you can dissolve the company already formed and create another one that would be solely owned and controlled by you. Then you will start the hard work of sourcing for funds for execution.

This situation is particularly messy and I deeply sympathize with you which is why I’ve hazarded a summary of the legal options available to you.

Good luck.

Thank you very much for the advice

elderken:
Get a lawyer for the next line of action

Thanks

@Illuminatus: With the stage that the partnership, company and the project is do I supposed to have the perks as the CEO? I mean, I'm I supposed to be given monthly allowance if not salary, accomodation, car etc.
Respond please !

Osila2:
@Illuminatus: With the stage that the partnership, company and the project is do I supposed to have the perks as the CEO? I mean, I'm I supposed to be given monthly allowance if not salary, accomodation, car etc.
Respond please !

You can only get these things if the company can afford it and is willing to give them to you. The company can only afford it if your investor keeps his end of the bargain. Are you seeing my point?

From what you told me, you can only get what the two of you agreed to and not what you think you are entitled to.

The complicated nature of this issue is why I’ve suggested that you seek legal advice so that you don’t err in such a manner that can not be corrected easily.

Alternatively, you can try alternate dispute resolution methods.

@Illuminatus: Once again, thank you very much for the candid and precise answer. I am grateful.
Merry Christmas and Happy New Year in advance unto you.