Legal Question in Business Law in Arkansas

I had a business (LLC) of which I opened, my partner switched them self to 100% ownership on I tried to close the business because I don’t want anything to do with it not the laundering it has done. My ex business partner and I also share a bmw i8 under the business’s name and my name; I want to go return the car to the dealership.. is that aloud ? How can I close the business legally? He. Threatens me with criminal charges every time I saw I want out and away from every thing.

Asked on 5/07/20, 5:30 am

1 Answer from Attorneys

Frank Natoli Natoli-Legal, LLC


Your situation is very fact dependent and we don't have all the facts. You can't unilaterally dissolve a business you own with others. The best thing would be to assign over all your interest in the business to the other partner if they want to continue it. But doing that does not relieve of any liability for things that you are personally responsible for and which occurred during your membership like money laundering.

Regards to the car, that depends. If this is a business asset or obligation then it should be handled accordingly.

Before you commit to anything, I suggest that you consult with a lawyer in private and discuss your objectives in more detail. You can start by calling around to several for a free phone consultation, get some insights then pick the best fit to work with.

If you would like to discuss further over a free phone consult, feel free to contact me anytime that is convenient.

Our firm is now referred by the American Bar Association (see under the New York section):

Kind regards,



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DISCLAIMER: this is not intended to be specific legal advice and should not be relied upon as such. No attorney-client relationship is formed on the basis of this posting.

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Answered on 5/07/20, 8:14 am

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