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lwpat
lwpat, Attorney
Category: Business Law
Satisfied Customers: 25386
Experience:  Attorney with over 35 years of business experience.
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My father in law is a 1/3 owner in a small business and 1/2

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My father in law is a 1/3 owner in a small business and 1/2 owner of the building the company runs out of. He had a falling out with his partners and is now hospitalized with cancer. They stopped paying his salary and cut him off the insurance (which caused many problems). They told him that they stopped taking salary too, but refuse to give him business/financial documents.
Short of hiring a lawyer (which he does not have the money for), what can he do to force his partners to turn over all financial documents?
I am very sorry to hear of his situation and hope that he improves. What has happened to him is called a minority shareholder "freezeout". It is possible that the others may be personally liable for his medical expenses so that may not have been a wise move on their part. Even then he should have been notified of his right to elect COBRA insurance.

Unfortunately there is little that can be done in these situations without the assistance of a business law attorney. However, you should be able to find one that will take the case on a contingency. The attorney can force the others to buy him out or dissolve the business and divide the assets. The attorney can also force the sale of the building. Here is the referral site

http://www.lawyer.com

Best wishes to you and your father in law.
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