Legal Question in Business Law in California

Re: Business Problem

You could file for a dissolution for your business and for an accoutning to recover funds from your partner that he was not entitled to. Do you have any documentation to support your claim. Please contact us if you have any questions.

Re: Business Problem

Yes there are quite a number of potential claims in such a situation, depending on the type of business, it’s size and both your and your partner’s relationship with the company. Such actions range from embezzlement, to misappropriation of funds, to various breeches of fiduciary duties.

I strongly urge you to immediately contact an attorney as these types of behaviors generally do not resolve themselves, and could put you in serious trouble with your creditors.

Re: Business Problem

I would also add (depending on your position as a shareholder/officer/etc), that since you are aware of your partner's behavior... not taking action could make you liable to other investors/creditors.

Re: Business Problem

Of course. If he won't make good on it, you could sue him, and you could file criminal charges. He should consider removing him from the company. The choices are yours. Feel free to contact me if you need help in taking civil action or properly removing him.