needsomeinfo
New Member
Currently, we are working on dissolving our partnership. In the last few years there have been many very shady things done by the other partner.
First and fore most he has taken more then $100,000 then we have in pay. This has been equal work and is set up as a 50/50 partnership. Of which he has never left enough money in the bank to pay for business bills. Also, since the start, he has terrible credit so, there have been additional bills for the partnership to pay for his things ex....truck, trailer etc. Since, he knows he has debt so far out of reach his bright idea was he would start his own company and we would continue to run this one. His mind only one person drawing income out of the company. But, we did all the work, he has his own company --of which we never got a dime and he thinks that he is entitled to half the income of the first business. We continued a month with this until we could figure something out. Then we start getting notices from the companies we are doing work for there is a tax lien for the other member of the partnership because he has paid any taxes for over a year. Hence no one was wanting to mess with that and we were losing business.
We have spent a lot of time working with the bankers, account and lawyer on dissolution papers. But, this guy keeps putting everything on hold somehow. He keeps dodging the bullet. This last straw has been that he thinks that he can come and keep using the equipment to do odd jobs all while still making income from his other business. This has left us in a tight spot because he is using the tools and equipment we need just to make a living. In the dissolution papers, he owes us so much money that there is really no buy out. All the tools and equipment should go to us.
Is there anything we can do to not allow him to use any of the equipment and tools until this thing is resolved. I'm sure it will end up in court..of which we didn't want it to go that far. He is stepped over the line and is taking away our lively hood. Also, are there any charges we may press on him - like embezzlement of funds from the company. Any help on how to speed up this process, charges we can press, things we need to make sure we have covered or just additional things to look at to make sure we get what we worked for all these years. We didn't want it to get this far but he is now starting to play dirty. Thank you for any help!
First and fore most he has taken more then $100,000 then we have in pay. This has been equal work and is set up as a 50/50 partnership. Of which he has never left enough money in the bank to pay for business bills. Also, since the start, he has terrible credit so, there have been additional bills for the partnership to pay for his things ex....truck, trailer etc. Since, he knows he has debt so far out of reach his bright idea was he would start his own company and we would continue to run this one. His mind only one person drawing income out of the company. But, we did all the work, he has his own company --of which we never got a dime and he thinks that he is entitled to half the income of the first business. We continued a month with this until we could figure something out. Then we start getting notices from the companies we are doing work for there is a tax lien for the other member of the partnership because he has paid any taxes for over a year. Hence no one was wanting to mess with that and we were losing business.
We have spent a lot of time working with the bankers, account and lawyer on dissolution papers. But, this guy keeps putting everything on hold somehow. He keeps dodging the bullet. This last straw has been that he thinks that he can come and keep using the equipment to do odd jobs all while still making income from his other business. This has left us in a tight spot because he is using the tools and equipment we need just to make a living. In the dissolution papers, he owes us so much money that there is really no buy out. All the tools and equipment should go to us.
Is there anything we can do to not allow him to use any of the equipment and tools until this thing is resolved. I'm sure it will end up in court..of which we didn't want it to go that far. He is stepped over the line and is taking away our lively hood. Also, are there any charges we may press on him - like embezzlement of funds from the company. Any help on how to speed up this process, charges we can press, things we need to make sure we have covered or just additional things to look at to make sure we get what we worked for all these years. We didn't want it to get this far but he is now starting to play dirty. Thank you for any help!
