Legal Question in Business Law in Louisiana
Are the shares rightfully mine
My brother owns an oilfield company. While working for him a man that owned ten percent of his company quit and wanted to sell back the ten percent. The company loaned me the money to buy the ten percent. I never started paying back on it, I figured it would be payed back by my brother as a bonus. I had the stock certifacates in my name. He took them back and said I don't own them any more. What are my rights.
1 Answer from Attorneys
Re: Are the shares rightfully mine
From what you write, apparantly they are yours, the only question is what are the shares worth vs. what you owe on the purchase price. A 10% interest is a small company is not worth the equivalent of 10% of the whole company's value, since the holder of 51% controls everything.
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