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Debra, Lawyer
Category: Canada Law
Satisfied Customers: 101392
Experience:  Lawyer
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3 years ago I invested six figures in a small business and

Customer Question

3 years ago I invested six figures in a small business and lost the whole investment to a rouge business owner who took the money had the business shit down..
After mediation he admitted to taking my investment and agreed to make monthly payments until the sum was paid off.. After the first payment, his checks bounced month after month and he claimed he had no way to pay me and left the city. 2 years later he resurfaced and I found out he is now an owner of a very successful bar/ night club.
Is it possible to go after him for The money owed to me if The agreement we came to through mediation had a limitation period of 180 days?
Submitted: 1 year ago.
Category: Canada Law
Customer: replied 1 year ago.
Also, if it is evident that his initial intent was to defraud me for the investment, is it possible to pursue this through criminal court and charge him with fraud ?
Expert:  Debra replied 1 year ago.

When you said the agreement has 180 day limitation period what do you mean by that?

Customer: replied 1 year ago.
I have 180 days after breach of the agreement before the statue of limitation expires . he was nowhere to be found and told his lawyer he had nothing to give me. His ex wife had a lien on his property and his accounts had no money yet now he has all his assets exposure including a popular bar a Ferrari and an luxury suv that he has posted up on social media.
Expert:  Debra replied 1 year ago.

Are you saying the agreement says that you must enforce it within 180 days of any breach?

Customer: replied 1 year ago.
I sent a screenshot of that part of the contract
Expert:  Debra replied 1 year ago.

Why did you wait so long to try and enforce it?

Customer: replied 1 year ago.
I am on disability and had no financial assistance and knew I wouldn't be able to get anything from him at that time
Expert:  Debra replied 1 year ago.

But you agreed to the 180 days so it is not likely you can seek to enforce the agreement now.

Had you not agreed that would be a different matter and you would have had 2 years in most provinces.

But if the agreement is clear I don't see away around it as you clearly understood it.

It is possible that he can be charged but as you waited this long the police may not think they can win in court at this late date.

There is no reason why you cannot call them, put in the report and see what happens.