Legal Question in Business Law in Kentucky

I used to own my own business

I had my own business and retired so the company was taken over by my associates. Instead of them buying the company from me they compromised by stating that I would be given a years pay for the company. However, I do not find this fair, and this now leaves me with little income and money. I am being forced to move into a smaller home and my family is suffering. I am an 84 yrs old veteran. I started this company from scratch 46 years ago.. is there anyhing i can do now to ask for money from the new owners??


Asked on 7/23/06, 10:41 pm

1 Answer from Attorneys
Philip Owens Philip M. Owens, Attorney at Law

Re: I used to own my own business

You really need to speak to an attorney on a "one to one" basis. You do not give enough facts here for me to fully evaluate your situation. If this agreement has already been signed and you have received your "one years" pay, then there may be little that you can do. A lot depends on the makeup of the company, the status of your "associates" and other factors. A lot of attorneys will not charge (or charge very little) for an initial consultation.

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Answered on 7/24/06, 11:27 am


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