Legal Question in Business Law in California
Dissolving a California partnership when only one party agrees.
My business is a small TV station, on air for ten years. It loses money every month. I have one busness partner. Together we have been putting money into the station to pay the bills. We have a $60,000 note due in February that we are currently paying interest only on. I've put it up for sale and have received an offer. My partner refuses to sell and can't afford to buy me out. We've lost our land lease where our broadcast tower is located. I've refused to keep putting money into the business. Is there any way I can legally force her to sell?
3 Answers from Attorneys
Dissolving Partnership
I read your question and befor I am comfortable
in giving any advise I would need some additional
information about your situation. I would be happy
to give you a free consultation and review your
documentation. Please feel free to contact me
at 805-546-9909 or email me directly at [email protected]
Talk to you soon.
John Hayes
John Hayes
The John Hayes Law Offices
P.O. Box 3003
Re: Dissolving a Ca. partnership
It sounds like you are between a "rock and a hard place." You failed to mention if you have a written partnership agreement. If you do then there should be a provision for dissolution, if not then you will need to seek the services of an attorney.
If you need assistance in this matter, please feel free to contact my office.
Robert E. Drescher
Law Offices of Robert E. Drescher
23958 Avenida Crescenta
Re: Dissolving a California partnership
Do you have a written partnership agreement? That needs to be reviewed to give you an accurate answer. Unless the partnership agreement provides otherwise, you can simply declare that the partnership is dissolved and then the business assets must be sold and distributed to the partners after the debts are paid. If you would like someone to take a closer look at your situation, I would be happy to do that.
Ken Koury
Kenneth P. Koury, Esq.
5807 Topanga Cyn Blvd., Suite G-201
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