My situation. I am a 25% owner of a small contract
. There are 4 of us equal owners. Our differences are rapidly becoming irreconcilable and the majority 3 owners/75% are looking to push me out in a way that is most advantages to them.
Their plan is to dissolute the corporation, leave me with 25% of combination of assets and customers and relocate with the majority of assets and customers to Nevada. Currently we are in California.
Here is why this doesn't work for me. If I am left with 25% of assets/customers, that 25% will not survive. Reason is because it is not enough to sustain existence of the business
, especially since they (the majority) have voted to take with them the key management and plan to leave me with the least profitable customers. Without this key management there is no way to continue in the business.
My question is. Is it legal for them to do this? They voted to dissolute in this fashion and since they are the majority the vote naturally passed. I offered to sell my portion to them and to be bought out but they refused, as the way they are planning to do it is more advantages to them.
What options do I have, how can I defend myself.
PS: Naturally, if things continue on this path, I will get a lawyer. I'm hoping I can talk them out of their plan, equipped with the information you will hopefully provide.