I need to seek your legal advice on a business conflict with…

Hi Leon,

Thanks for your answer, I've some follow up questions:

1. As a trustee you hold assets for the beneficiaries and they cannot be touched. if you are a beneficiary as well then they will look at whether you are entitled and if you are they can take your share.

• Question: The ACN is setup under the Trust structure, I'm obviously the share holder in the ACN with a 50% distribution with my fiance, so does that mean they can take my fair share if the case is not in my favour?

1. The Deed of Release does not release you form non competition clauses in the original agreement and you are bound by that.

• Question: I fully understand these are 2 separate matters, hence my question on my option to take against my ex-business partner since he is mixing up the deed of release with the initial agreement?

1. You cannot compete against the initial partnership and I assume you have also breached the confidentiality clause and been contacting clients. The Deed of Release does not change that either.

• Question: I haven't been contacting the existing clients and my new trust/company doesn't offer the same service with my previous partnership. Isn't this a very subjective matter to be defined as breaching the non-compete?

Hi Leon,

Ok, I've attached my trust deed for you to go through. Can you please let me know if I'm at risk?

My ex-business partner is refusing to repay the loan that we took while I was in the partnership and when I resigned from the company, he agreed to bare all the debt because he wanted to continue trading under the same company that we setup before, make sense?

He used to make those repayments until recently, he said he found out that I've breached the non-compete clause in our agreement, hence he decided to not only stop repayment but also withdrew all the previous repayments he has made into a few accounts. Leaving all the loan unpaid and the bank has started to chase me for the repayments since I was the co-applicant.

The deed of release was to release me from the debt which he is now refusing to repay and he got everything mixed up in terms of not paying the debt with me breaching the non-compete clause.

I hope this makes more sense to you now?

Attachment: 2015-03-12_230246_rob__deb_trust-deed_1_1.pdf

Hi Leon,

I sent you the trust deed because you said if I get sued by the creditor, it may or may not affect my current trust depending on how the trust is being setup?

Can you please clarify?

What are my options moving forward?

1. Send L.O.D.?


2. Wait for creditor to sue both of us since it's under both names & let the credit rating period wear off?

I don't plan to pursue this in court because I'm no longer in Australia even though the trust still active in Australia and I have no assets in Australia other than my name as one of the beneficiary in the Trust.

Hope that make sense?