Legal Question in Business Law in California

When a corporation has two shareholders who do not agree to collect the debts, how can the corporation split the debts? Should I file a lawsuit?


Asked on 9/03/12, 11:36 am

2 Answers from Attorneys

Phillip D. Wheeler, Esq. Phillip D. Wheeler, Attorney At Law

I highly recommend arbitration instead. If that doesn't work, then perhaps a lawsuit. Problem with lawsuits are they are very long and very expensive.

I suppose it depends on how much money we are talking about. Is this a LARGE corporation (more than a million in revenues annually)? Or is this a FAMILY corporation (i.e. closed corporation.

I sincerely believe arbitrators are highly under-utilized in cases like this. That is just my personal opinion. I am not your attorney so you might want to retain one and ask them if they agree with me. My answer to you is for educational purposes only and from my own experience. Many lawyers will give you a free consultation, even on the phone.

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Answered on 9/03/12, 11:42 am
Phillip D. Wheeler, Esq. Phillip D. Wheeler, Attorney At Law

If you could like to go to my website, fill out the confidential "CONTACT" form and give me more details of assets, etc. That way I might be able to give you a more informed decision. In other words, I need more information on what kind of corporation we are talking about.

Thanks!

www.caonlinelawyer.com

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Answered on 9/03/12, 11:45 am


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