Business partner claim
UPDATED: Oct 1, 2022
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Business partner claim
I have a business that I’m a 50% owner of. The LLC is registered in Delaware. My partner resides in Nashville Tennessee. I recently had a relapse with alcohol after a long period of sobriety. While I was away for 45 days she closed the bank accounts and shut me out of everything. Im an the driving force in the sales department and without my attention to that area the business wouldnt survive for to long. She won’t respond to any calls or emails and I’m on about 90% of the accounts that were needed to run the company. How would I go about filing a complaint? She deactivated the LLC and took the website down. The company was about 12 months old and was generating about $70,000 per month in new sales and residual income with no inventory and very low overhead. I’m not sure how I’d proceed to protect my interest and my exposure to any complaints. She didn’t have the authority to just shut everything down. I was the CEO and she ran administrative duties. There was about $60,000 in the general account at the time of the event. My guy tells me that she shut everything down and opened new accounts and is collecting the residual income as well kept the funds that were in the business account.
Asked on February 25, 2018 under Business Law, California
Stephanie Emanuel / Ahsan A. Syed, PSC INC
Answered 4 years ago | Contributor
Thank you for asking. This is a serious complex situation. You will first need to review your partnership agreement and any contracts you have in place in terms of the partnership, and performance of duties. There are a couple of options that you can use take to get everything working in order again. The first step would be to contact a Business lawyer specializing in corporate law and partnerships. From there you would be able to move forward. The longer you wait, the more you lose out both financially and legally. Wish you good luck and hope to hear from you soon.
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