November 06, 2007
Posted by Dmitri
She moved to Arizona and she won't accept any managerial or financial responsibility for our business. She borrowed money from the business and won't pay it back. If asked, she'll claim she going to declare bankrupcy. She won't turn over her interest in the company. I'm frustrated and feel trapped.
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November 06, 2007
Posted by TonyLiu
( 2 ratings )
Hi Dmitri,
I sympathize with your situation and can certainly understand your frustration. I hope I can help. To accurately move your question forward, please answer the following:
1. Do you have a legal partnership agreement?
2. Does the partnership agreement address how a partner can be bought out?
3. Does each partner have an equal vote? Is it 50/50, just 2 partners?
4. Assuming you have a partnership agreement, have you contacted the attorney who drafted your partnership agreement?
5. Has your partner committed any acts of fraud?
6. What lead your partner to abandon the business?
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