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Richard - Bizlaw
Richard - Bizlaw, Attorney
Category: Business Law
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Experience:  30 years of corporate, litigation and international law
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I opened a business in Alabama with my brother in law as 50

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I opened a business in Alabama with my brother in law as 50 % owners 2.6 yrs ago, hoping to straighten him out. he has only worked for the company maybe 5 months over the yrs, of course, he screwed me over. In order to get him off the business, I had to sign my half to my wife in return, he signed his half over to his mother. I now have 0% of interest in the company. Take in mind, he has a very lengthy criminal record. Me and my wife call all the sots for the business, while her mother has 0% to do with the business. We have fired him several times and he still gets to return by playing the mommy card. He drinks on the job, and I am afraid that we will lose everything because he just doesn't care. She will not sign over her 50% because she knows he will not have that card to trump us with. All the business we have, I have gotten. All the equipment we have, I am the signer for. So, what can be done in order to make her sign over her part before he destroys everything I have built.
Submitted: 5 years ago.
Category: Business Law
Expert:  Richard - Bizlaw replied 5 years ago.

As a practical matter I would take the position that all the equipment you were the signer on was a loan and that you want the loan paid off in full. Failing that you will take the equipment. Shut down the business and open it under another name with just you and your wife as owners. Tell you customers that you are leaving the business and leave it up to them as to where they want to go.

 

This approach is on the legal edge but I doubt that your brother in law or the mother have the wherewithal to fight it.

 

Customer: replied 5 years ago.
With this situation, if we were to have to retain a lawyer, could a judge rule her incompatant since she is making bad choices and potentaly putting the business in jeopardy? My wife has cut ties with them after she was so stressed out that she became ill.
Expert:  Richard - Bizlaw replied 5 years ago.

It is very difficult to have a person declared incompetent. That would be a very time consuming process and even if successful, you would have to deal with the person appointed to govern her affairs. If you think she is not competent, you should retain an attorney as we only provide general information and not legal advice.

 

Richard - Bizlaw, Attorney
Category: Business Law
Satisfied Customers: 8763
Experience: 30 years of corporate, litigation and international law
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