i own a small trucking bussnies and i have a partner in the bussnies. I am 100% shareholder.we have a truck that is registered to the company. my partner went behind my back and changed the registrtion to a new company that he had opened recently with out a bill of sell from me or the company. I have proves that the truck was owned by the company and that i am 100% shareholder ( president of the company). i would like to know please what do do in this case.I am very confused in what to do.please i need a legal advise. thank you for this great website. god bless
Province/Territory relating to question: Alberta
I have talked to my partner try to setle this with him but nothing so far.
Dear Sir or Madam,
Welcome to JustAnswer,
You refer to this person as your partner, but you say that you are a 100% shareholder. What do you refer to him as your partner?
Is he a director or officer of the company? If so, he may have apparent authority with respect to the ministry of transportation and on this basis the vehicle was transferred over.
In any event, if he did not have actual authority from you or the company to do this, then the transaction is fraudulent as between the company and his new company. Given the fact that he works for your company, police will not likely want to get involved, however.
As such, you would have to deal with things via a civil litigation matter.
He has also breached his fiduciary duties which he owes to the company if in fact he is a director or officer.
Depending on what you want to happen at this point, you have grounds to have him removed as a director or officer. You can also ask the court to set aside the transfer and force him to transfer the vehicle back.
This is not a simple matter and at this point, it is wise to speak with a commercial litigation lawyer in your area who can formulate a formal game plan for going forward.
Of course, it may also be very wise at this time to sit down with the person and let him or her know of your intentions to pursue legal action of the vehicle is not transfered back.
Hope this helps as a starting point.
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Experienced Litigation Lawyer in Ontario since 1999 and NY since 1997