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Richard
Richard, Attorney
Category: Business Law
Satisfied Customers: 53997
Experience:  32 years of experience practicing law and a businessman.
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I WAS IN A BUSINESS PARTNERSHIP AND MY BUSINESS PARTNER USED

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I WAS IN A BUSINESS PARTNERSHIP AND MY BUSINESS PARTNER USED THE ACCOUNTS FOR HIS OWN PERSONAL USE LEAVING ME WITH THE DEBT.
I HAVE SOLD ALL THE TOOLS AND EQUIPMENT THAT I HAVE IN MY POSSESSION AT THE TIME TO PAY OFF MOST OF THE DEBTS EXCEPT ONE.
THE COMPANY IS NOW CHASSING ME ALONE OF THE REMAINDER OF THE DEBT AND WONT EVEN TRY TO CHASE HIM. HE IS STILL IN POSSESSION OF SOME OF THE TOOLS AND ONE MINI DIGGER AND IT IS MY UNDERSTANDING THAT ONCE A PARTNERSHIP IS DESOLVED ALL ASSETS MUST BE SOLD I HAVE ASKED FOR THE DIGGER ETC TO BE RETURNED IN WRITING AND OVER THE PHONE ONLY TO BE IGNORED.
THE COMPANY THAT THE REMAINDER OF THE DEBT IS OWED IS NOW IN THE PROSSESS OF TAKING ME ALONE TO COURT AND IT SEEMS THERE IS NOTHING I CAN DO ABOUT IT.
IS THERE A WAY I CAN FORCE THE EQUIPMENT TO BE RETURNED?
AND ALSO ALL ACCOUNTS USED WERE SIGNED FOR AND RECIVED BY MY BUSINESS PARTNER WITHOUT MY PERMISSION OR KNOWLEDGE COULD THIS HELP MY CASE OF SHOULD I REPORT MY BUSINESS PARTNER FOR THEFT OF THE EQUIPMENT OR FOR FRAUDULENT USE OF THE ACCOUNTS? PLEASE CAN YOU HELP AS I FEEL IM ON THE EDGE OF HAVING MY FUTURE AND MY CREDIT RATING RUINED.

Hi there. Although the company is entitled to come after either or both of you, if you pay more than your share of the debt, you have a claim against your partner for the portion you paid over and above your share. You should file a suit against your partner. You will be awarded a judgment and then you can go after your partner's assets to collect the portion you were forced to pay over and above your share.

 

 

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The information given here is not legal advice. As all states have different intricacies in their laws, the information given is general only. This communication does not establish an attorney-client relationship with you. I hope this answer has been helpful to you.

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