Here is the "operating agreement"
Is there a way to prevent the "mayority partner" to form another "LLC partnership" and neglect current LLC.
What are the consequences of violating an agreement?Is there a way for them to say "This is not a competing business" is a "supplemental" or some other wording, then, they are not in violation.The managing partner is the Husband of the majority interest holder. Actually both, husband and wife, manage the business.Basically, my wife help them open an grow the business. Then she moved out but didn't sell. Now they are trying to create a new partnership with a "restaurant owner" to handle the catering on behalf of the restaurant name.According to them, the "new partner" doesn't want "non-working partners" If my wife doesn't sell.Is it possible to "merge into the new partnership" with a diluted partnership?How this works?BotXXXXX XXXXXne. I think they want to buy her out because they are expecting bigger profits/year and don't want to share profits any longer.
If merger...A)Does my wife has to go to NYC to sign new papers?B) if diluted at 1% but double sales, she will be in the same position, isn't it?If Majority member shuts down....A) Is there a period of time in which he can't open any related business. how long is this period?B) Could they open using other names, children or create another type of "association" to avoid the breach?C) There should be a liquidation process isn't it? or everything is discounted at cents/dollar?If Majority member breaches...A) What is the cost of suing (rough numbers, how it works?)B) How long the process maybe?
Thank you very much Zachary!
If you don't mind, could I have any type of contact information from you.
my cell phone is(NNN) NNN-NNNN/p>
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