Legal Question in Business Law in Georgia

partners

i bought in my brothers company in 2004,with 10,000,to become vested at 25% starting at 10% first year 20% second and 5&the next.we drew up small aggrement on paper but we never signed it.know after irs came in because of his cpa fuged the taxes.the company ended up oweing about 225,000.the problem know is he is saying i am no longer partner.and that he is gona give me back my ten grand we he can.but in the last 4 years we have bought a lot of stuff ,like a warehouse ,3 trucks,&trailers and so on.he says i lose all that i have invested building this company what are my right if any. thanks


Asked on 4/29/08, 8:39 pm

4 Answers from Attorneys
Scott Riddle Law Office of Scott B. Riddle, LLC

Re: partners

Your issue is not one for a message board like this. See a lawyer experienced in business litigation.

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Answered on 4/29/08, 8:47 pm
David Glass Law Offices of David H. Glass, LLC

Re: partners

You will need to hire an attorney to protect your interests. You may want to make copies of all documents that prove your partnership. Bring those documents to your meeting with an attorney. If you want a free consultation, call 404.409.8901.

Sincerely,

David H. Glass, Esq.

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Answered on 4/29/08, 10:35 pm
Glenn M. Lyon, Esq. MacGREGOR LYON, LLC, Business Attorneys

Re: partners

It sounds like you have a solid claim against your partner for trying to push you out of the company, and maybe a claim for the specific stepped up interest in the company. However, enforcing verbal agreements cane difficult because the other party rarely agrees on the same terms. You should also consider allowing your partner to buy you out of the company because trying to continue the business with two feuding partners can be extremely difficult.

If you would like to discuss any issues further, please feel free to contact my office. My contact information is below. Thank you.

The foregoing is general information only, not specific legal advice. No attorney/client relation has been created or should be implied.

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Answered on 4/30/08, 10:47 am
Charles W. Field Charles W. Field, Attorney at Law

Re: partners

Best advice: Consult with a local attorney.

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Answered on 5/01/08, 6:34 pm


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