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Roger, Attorney
Category: Legal
Satisfied Customers: 30912
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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Started LLC partnership that didn't work out. I had 52 % of

Customer Question

Started LLC partnership that didn't work out. I had 52 % of business other member had 48%. The other member was listed as manager. The other member agreed to sign off of the business for money owed and $600 buy out. This would have come to a total of @ $1200. They have taken over $1600 from the business account. They took money that should have gone to overhead and they took money they did not work for. What recourse do I have? I have text messages showing what was agreed to. Issues arose before an operating agreement was signed.
Submitted: 3 months ago.
Category: Legal
Expert:  Roger replied 3 months ago.

Hi - my name is ***** ***** I'll be glad to assist.

The only thing you can do is file suit as the LLC and as yourself (in your capacity as a member) for the money that was improperly taken from the business account and ask the court to order that the funds be returned.

Expert:  Roger replied 3 months ago.

Given the amount at issue, you could likely file the matter in small claims court....which would be quicker and cheaper.

Expert:  Roger replied 3 months ago.

It is likely that you can sue for breach of fiduciary duty to the LLC and also breach of contract based on the agreement that you had in writing.

Expert:  Roger replied 3 months ago.

Please let me know if you need anything further. Thanks again!