Good afternoon. What is the ownership breakdown of your business? And, do you have a partnership agreement that addresses any of this?
Thanks. Both of you have a fiduciary duty to each other and the business. If he is taking action that would not constitute reasonable decisions by a business man, you could seek an injunction to prevent these actions. Furthermore, as only a 50% owner, he has no greater rights than you have. I would force the issue by either buying him out or forcing him to buy you. If he will not agree, I would file a suit to force the judicial dissolution of the partnership. In the meantime, if he becomes violent in any way, you can both contact the district attorney to pursue criminal prosecution and/or seek a restraining order.
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You're welcome. I would force the issue by giving him an ultimatum...get out with whatever you are willing to pay him and assign his interest to you or you will have no chance but to file civil suit against him and look into any possible criminal violations. You don't want to threaten criminal prosecution, but you can let him know you will be looking into all your options.
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