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Do you have a coperation and a shareholder agreement? Sales of shares and control issues should be in your shareholder agreement. Were you offered to buy half of the shares too?
You may be SOL on control and spending issues as he has the deciding vote, but distributions should be based upon percentage owned. Your new majority partner may decide to vote himself or others salaries/bonuses or a high expense accounts.
Back to your corporate papers and shareholder agreement. what does it say?
BTW just if something is in the aggrement doesn't mean the law which governs the contract (jurisdiction should be spelled out in the contract) will support it.
Get a lawyer and NOT and internet lawyer. This is not an internet issue but a business law issue for a company that happened to do business on the internet,
Get a lawyer and don't go with a lawyer that specializes in the internet.
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