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Richard - Bizlaw
Richard - Bizlaw, Attorney
Category: Business Law
Satisfied Customers: 10629
Experience:  30 years of corporate, litigation and international law
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In 2009, I became partners in a cuban restaurant locate in

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In 2009, I became partners in a cuban restaurant locate in midtown. my Total investment was approximately $150,000.00 dollars. It was my lifetime savings. However, the restaurant was open under the same until August of 2011. Due to some financial difficulties and legal issues we decided that the best option for the restaurant was to get some investors to get rid of the financial issues. onne of the partners who is involved in other restaurant brought the offer to the table of some investors and to change the name of the restaurant under his corporation of existing restaurants. the other partners and I said ok. the deal was that the new investors share was going to be 40% of the business granting the fact of paying all outstanding debts. One of those debts is owed to my wife and mother in law for the amount of $9,800. The deal was done where we all agreed to the deal of 30% for the new corporation and name and the rest for my partner and myself. the problem is that after the business was finished and now open, the corporation and the new investor does not want to recognized our share in the business, haven't issued our share certificates, are avoiding phone call, meetings, and haven't paid for the money owed. This debt was supposed to be paid back in Agust and it has been paid. What can i do? can i file a civil suit to get the money invested?

bizlaw :

You will have file suit to obtain your interest in the corporation and to get the debts paid. This should be done as soon as possible as the longer you wait the harder it will be.


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This communication is not intended as legal advice. A local attorney should always be consulted for legal advice. No client/attorney relationship is intended or created by this communication.

Customer:

where can I file a suit, and how about the money invested in case they do not want to acknowledge my interest in the corporation

bizlaw :

You would be suing on the agreement made for the take over of the restaurant. You will not be able to recover for your investment as that is not what the agreement was. I trust that this agreement is in writing but even if not you should be able to sue on the agreement made. You are suing for breach of contract or fraud in the inducement to enter into a contract they never intended to fulfill.


If this answer is responsive to your question, please accept it. That is how we are compensated. I would also be appreciated if you provided feed back on your view of the answer. Finally, if the answer was especially helpful you can provide a bonus. If I can be of further assistance or you have other questions in the future you can ask for me and reach me at this site.


This communication is not intended as legal advice. A local attorney should always be consulted for legal advice. No client/attorney relationship is intended or created by this communication.

Customer:

where do i file this complaint

bizlaw :

The complaint would be filed in the Supreme Court in the county where the restaurant is located. If you are in midtown Manhattan that court would be atXXXXXdowntown.


If this answer is responsive to your question, please accept it. That is how we are compensated. I would also be appreciated if you provided feed back on your view of the answer. Finally, if the answer was especially helpful you can provide a bonus. If I can be of further assistance or you have other questions in the future you can ask for me and reach me at this site.


This communication is not intended as legal advice. A local attorney should always be consulted for legal advice. No client/attorney relationship is intended or created by this communication.

Customer:

ok, thank you

bizlaw :

If I have answered all your questions please accept the answer as that is how we are compensated

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