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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Business Law
Satisfied Customers: 116206
Experience:  All corporate law, including non-profits and charitable fraternal organizations.
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My ex and I own a construction company together 50/50. It's

Customer Question

My ex and I own a construction company together 50/50. It's incorporated. He just received a large check and opened an account without my knowledge. He is the only one that signs on the account. He won't share the profits. He is also having clients make checks payable directly to him, yet his license is under the corporation. What recourse do I have?
Submitted: 1 year ago.
Category: Business Law
Expert:  Law Educator, Esq. replied 1 year ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
If you own the company 50/50, he cannot keep the money from you and you are entitled to your 1/2 share. You need to raise this in mediation first on Wednesday and if you cannot resolve this in that forum, you need to file a motion for an order to show cause for contempt of court, to get the court to review the income and order him to turn over your share to you.
Customer: replied 1 year ago.
What about the second half of the question where is is having his clients write checks directly to him and not the corporation? By the way he then goes to the clients bank and cashes the check and put the cash in a personal account. His contractors license is under the company not his personal name.
Expert:  Law Educator, Esq. replied 1 year ago.
Thank you for your reply.
You are entitled to a share of all of that money coming into the company, he is actually breaching his fiduciary duty to the company by taking money from the company as he is doing and basis to file a suit on behalf of the company against him to get the money and control of the company and accounts and force him to cease and desist.