Legal Question in Business Law in Colorado

I'm part owner operator of a shop ( 20%) I work with 3 other partners !1 has 22% the other has 20% and 5%.Investors have the rest 43%. We have a revoling line of credit That I'm on w/one of the patners.And we had a large dept.Need to leave the business I don't see eye to eye w/partners.It's a LLC. What do I do?


Asked on 9/07/09, 7:05 pm

1 Answer from Attorneys
Robert Murillo Pivotal Legal Ltd.

What to do depends on any number of relevant questions. What does the written operating agreement provide? Does the agreement require the company to cover the line? Are you liable individually for other debts? What are the investor rights, what disclosure was provided to them, what does their private placement agreements provide?

There are so many legal issues at play the only sound advice is retain an attorney.

Read more
Answered on 9/13/09, 12:27 am


Related Questions & Answers

More Business Law questions and answers in Colorado