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Richard, Attorney
Category: Business Law
Satisfied Customers: 53685
Experience:  32 years of experience practicing law and a businessman.
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I was the major shareholder in a C Corp. About 18 mo

Customer Question

I was the major shareholder in a "C" Corp. About 18 months ago our company was having financial difficulties so we put the business in a "Coma" ( I loaned the company $15,000 and stopped taking a salary), but we continued to attempt to solicit customers, etc. In the past few months, a few customers have come in and the company is moving back into life. We had a group of investors (own 17.5%) and another partner (also owns ~37.5%) push me out (they were making stupid decisions I did not agree in). I want to know how I can get my past due wages (about $80,000) and the amount of money I loaned to the company back...?
Submitted: 5 years ago.
Category: Business Law
Expert:  Richard replied 5 years ago.

Good evening. Even though you resigned your position, you are still entitled to wages earned before you resigned and to the repayment of your loan. If they will not voluntarily agree to pay you on some sort of terms acceptable to you, then you need to file suit against them. You can then get your judgment, and then attach all the company's assets, including their bank accounts.



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