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LawTalk
LawTalk, Attorney
Category: Legal
Satisfied Customers: 35390
Experience:  I am a practicing attorney with more than 30 years of experience in the legal field.
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My husband was in business with a friend s friend was the

Customer Question

my husband was in business with a friend his friend was the president of llc and paid for a $10,000 vacation for his family with company money which really upset my husnad shortly after that the president of the company committed suicide and my husband found out the company was in substantial arrears he tried to recover this vacation money but the leasing company would not tell him anything We recently found out his wife called and cancelled the vacation and they sent her a check for that amount of money my husband would like to know if he can do anything to get that money back he has several people looking foe their money back
Submitted: 5 months ago.
Category: Legal
Expert:  LawTalk replied 5 months ago.

Good afternoon,

I'm Doug, and I'm very sorry to hear of your situation. My goal is to provide you with excellent service today.

This seems like a very crucial matter for you, and your questions and issues suggest that an in-depth conversation might best suit your needs. If you are interested, for a very nominal charge I can offer you a personal phone conference as opposed to continuing in this question and answer thread which is searchable and viewable by the public.

Let me know if you don't want a call and I will be happy continue here with an answer for you.

Either way, whether I call you or not, in order to give you a clear and concise answer, I will need some additional information about the circumstances, please.

1. What position within the LLC did your husband hold?

2. Is the LLC still in business?

3. Did the By-Laws of thee LLC allow the president to take money from the LLC for such purposes as a family vacation?

4. How was the 10K payment identified in the accounting books?

5. Were your husband and the President equal partners in the LLC?

6. What specifically do you mean when you wrote that the LLC was in significant arrears?

Thanks in advance,

Doug

Customer: replied 5 months ago.
i really dont want to talk on the phone but we can not find nor do we know if there were corproate books .I am wondering if she can be made to return that money to our attorney to be used to take care of people her husband stole money from.He collected quite a bit of money from customers before he took his life found out none of the vendors have been paid for the prior 3 months and when my husband questioned the bank the funds were literally at zero
Expert:  LawTalk replied 5 months ago.

While I think that out discussion could have been much more productive via a call, I will communicate with you here. Not a problem.

Expert:  LawTalk replied 5 months ago.

Would you please respond to my questions so I have facts I need? Thanks

1. What position within the LLC did your husband hold?

2. Is the LLC still in business?

3. Did the By-Laws of thee LLC allow the president to take money from the LLC for such purposes as a family vacation?

4. How was the 10K payment identified in the accounting books?

5. Were your husband and the President equal partners in the LLC?

6. What specifically do you mean when you wrote that the LLC was in significant arrears?

Expert:  LawTalk replied 5 months ago.

Hi,

I won't be able to assist you if you are not able to provide the minimal information I sought clarification on. Please get back to me with this information at your earliest convenience.

Doug

Customer: replied 5 months ago.
supposedly VP /NO there is no money to continue and substantial debt we could not save it //if there were by laws my husband would never put in nor agree to vacations being paid for by company//we found the check addressed to the vacation spot and it was not identified in accounting book because he stopped all company functions @ 3 months prior to his dismise //after he killed himself my husband went to the vendors to notify them and find out what the money due to them was he found out no money was sent for about three months one vendor alone was over a 100,000 another was over 70.ooo and if you were to see the books we had the company should have been making money
Customer: replied 5 months ago.
my question is the check should have been made out to my husbands partner and we can prove the money came from the business do we have any legal action to recover that money
Customer: replied 5 months ago.
if we can verify check was made out to my husbands partner and his wife cashed it who is responsible for this error and how do we fix it
Expert:  LawTalk replied 5 months ago.

Good afternoon,

Thanks for the additional information.

I certainly empathize with you and your husband and the situation that you face.

No, there would have been no legitimate business purpose in the President simply taking the $10,000 from the LLC. It essentially amounted to embezzlement.

His wife does not have the legal right to keep the money. However, as only the LLC could sue her to collect the money and there is little use in paying an attorney to collect money that will simply have to be turned over to the creditors, I would suggest that given the tremendous debts of the LLC and apparently no assets to speak of aside from perhaps the $10,000 that the wife has of the LLC funds, that the only rational approach is to seek out a bankruptcy law attorney to file bankruptcy on behalf of the corporation. The bankruptcy trustee will have the right and the ability to claw back the funds from the wife so she will not be able to keep it.

You may reply back to me using the Reply link and I will be happy to continue to assist you until I am able to address your concerns, to your satisfaction.

I hope that I have been able to fully answer your question. As I am not an employee of JustAnswer, please be so kind as to rate my service to you. That is the only way I am compensated for assisting you. Thank you in advance.

I wish you and yours the best in 2016,

Doug

Expert:  LawTalk replied 5 months ago.

Good afternoon,

Do you have any additional questions that you would like me to address for you?

In case you would like a phone call to further discuss these issues you have raised, that offer is still open to you. You are certainly not obligated to accept a call offer, but many people do find it helpful for clarification purposes, as well as to allow them to ask additional questions.

As I have provided you with the information you asked for, would you please now rate my service to you so I can be compensated for assisting you?

Thanks in advance,

Doug