Legal Question in Business Law in California
Our company has a 50%/50% business partnership with an American in California with several assets. I have know him for 20 years and before the economic crisis he was flying very high indeed. Lately his business have hit a tailspin. We have a joint venture agreement signed by him. Our company has invested 500,000 usd and he has invested 500,000 usd into our business in Vietnam. He has several other businesses in Vietnam, and lately he has been investigated by the police for doing illegal business in Vietnam, as well as lost several large lawsuits. Because of Vietnam law he holds 100 percent of the shares of the business in his name, 50% for our company in his name. Because he needs money he has threatened to sell our business to our competitor, and give us half the proceeds. Clearly this is against the Joint Venture Agreement we signed. He is trying to strong arm us into agreeing, but we have advised him to follow the shareholder agreement when selling his shares and that he has no right to sell our shares with out our permission. My question is, if he goes ahead and sells our company with out our permission can we take legal action against him personally in the US, as he signed the joint venture agreement personally. I know he has many assets including properties in the US.
4 Answers from Attorneys
Sure you can sue him. The only question is, in what U.S. state and locality can you sue him, can you personally serve him with the lawsuit, and can you get at his U.S. assets. Maybe you could sue him here in Westminster, California where I practice law. There are many Vietnamese-American residents here, some of whom serve as jurors. There are also many Vietnamese-speaking attorneys here, and also a Vietnamese-American judge.
The other attorney is right on point. You can sue him. Does any of the paperwork he signed specify jurisdiction or venue? Consult with an attorney in your area for specifics.
Kevin B. Murphy, B.S., M.B.A., J.D. - Mr. Franchise
Franchise Attorney
Of course you can take legal action if you have grounds for it. It sounds like you do. Since he is in CA, you would sue him in the courts here. If serious about doing so, feel free to contact me to discuss the risks and rewards of doing so.
You will need to sue him in the county of California in which he resides.
Related Questions & Answers
-
I was hired as a commissioned salesman with a specific territory. There is no... Asked 6/08/10, 1:52 pm in United States California Business Law
-
I am having a time because of the many terms that are in the law dictionary... Asked 6/08/10, 12:40 pm in United States California Business Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
