Legal Question in Business Law in Florida

I made an agreement with a guy , we started an LLC in Fla. He did not honor his part of the money agreement but we have already signed the papers and he now owes 50% of my small private company. I started a new company and am operating under the new company name and have not heard or contacted him in a few months. he has let the company bank account go in to over draft but not putting any money in the accounts to cover the bank fees. Is there anything I need to do or worry about?

Asked on 8/25/10, 7:03 pm

William Gwaltney William W. Gwaltney, Attorneys at Law

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Yes. You may still be responsible for the debts of the business that the other guys racks up. You need to dissolve the business.

Answered on 8/31/10, 5:04 am

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