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Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Business Law
Satisfied Customers: 17530
Experience:  B.A.; M.B.A.; J.D.
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im in a dipute in a closely held s-corp with my brother we

Customer Question

im in a dipute in a closely held s-corp with my brother we are 50/50 shareholders recently I have been removed from all financial accounts without my knowledge or consent.I have no knowledge of any of the companies financial affairs or decisions as he has decided to freeze me out of any records or activities of company.Our corp attorney is out. for medical reasons.Creditors are calling me for payments that should have been made,long time employees are being harassed and removed from their positions in his self imposed restructuring of company,causing a intolerable work environment.No board has ever been erected to resolve this situation.what if any options do I have at this time?
Submitted: 3 years ago.
Category: Business Law
Expert:  Phillips Esq. replied 3 years ago.
Thank you for giving me the opportunity to assist you. Kindly use CONTINUE or REPLY button to ask for clarification or follow-up questions.



im in a dipute in a closely held s-corp with my brother we are 50/50 shareholders recently I have been removed from all financial accounts without my knowledge or consent.I have no knowledge of any of the companies financial affairs or decisions as he has decided to freeze me out of any records or activities of company.Our corp attorney is out. for medical reasons.Creditors are calling me for payments that should have been made,long time employees are being harassed and removed from their positions in his self imposed restructuring of company,causing a intolerable work environment.No board has ever been erected to resolve this situation.what if any options do I have at this time?


Response
: You have to file lawsuit against your brother to protect your rights and to restore order in the place. As 50% owner, your brother should not be making unilateral decisions regarding your rights and the management of the business. You need the Court at this time to rein in on your brother's power grab. You may also notify all companies and persons affected by your brother's unilateral decisions to ignore your brother's directives because he did not have your consent for those actions.

You would need the services of a local Attorney that handles business litigation to assist you. You can use the following sites to find local Attorneys:




http://www.lawyers.com




http://www.justia.com