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Ask Deborah Awyzio Your Own Question
Deborah Awyzio
Deborah Awyzio, Solicitor
Category: Australia Law
Satisfied Customers: 863
Experience:  Bachelor of Laws (QUT), BIT (QUT), Family Law Accredited Specialist, over 12 years experience
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I am seeking business advice for a company I am in the

Customer Question

I am seeking business advice for a company I am in the process of exercising an Intention to buy, I am the seller. They have decided that they do not want to but the business even though settlement was technically 2 years ago and they are seeking money they have paid to me as either hard costs of installments totalling $25,000 based on our agreement to exit.
JA: OK. To minimize me, please click the down arrow at the top right corner of this box.
Customer: I am now in NYC and am helpless and they are just running this training company into the ground.
JA: What state are you in? It matters because laws vary by location.
Customer: I was living at the time of the agreement in Vic and they were based in NSW
JA: Has anything been filed or reported?
Customer: No they keep saying they are seeking legal representation, I think to scare me but nothing has arrived
JA: Anything else you want the lawyer to know before I connect you?
Customer: I signed the assets and IP over to them to protect the business and I have a hold on the training business until we settle, which I was then suppose to release the hold. They clearly now do not want it and to exit they want me to pay them!
JA: OK. To minimize me, please click the down arrow at the top right corner of this box.
Customer: I can send the contracts as I need some help because being in NYC i feel helpless
Submitted: 2 months ago.
Category: Australia Law
Expert:  Leon replied 2 months ago.

Good Afternoon

My name is ***** ***** I am a NSW Solicitor. Thank you for your question, and will do my best to assist you with your question. Please understand this is not legal advise but a guide to assist you.

Have you signed contracts?