Legal Question in Business Law in Missouri

Built a company, now partner's deception has taken it all away

Took over startup company in 1999 as CEO. Removed old president who had missused funds and assets. Invested full time effort plus funds to grow the business and position the achievements to attract new sources of funding. Board resolution to defer my salary of $175,000.

Built up company and executed sales contracts during 2000 as company struggled to find investors in crashing market. Continued to pump in personal funds to keep it alive.

During 2001 I negotiated merger details that called for me to be re-paid portion of deferred back pay.

They have refused to pay my expenses and have stated that I will not receive any pay for my three years of full time work.

I am out my expenese, IRA's and all major assests. They also accused me of taking over $24,000 without checking with the bank to verify.

I hope someone will take an interest in helping me as soon as possible.

I am looking to recover my expenses, get compensated for the three years of service and be removed from the risk of the bank guarantee. Anything beyond that is fine with me at this point.

Thank you.


Asked on 2/28/02, 2:13 pm

2 Answers from Attorneys
Frederick Damon Solo Practice

Re: Built a company, now partner's deception has taken it all away

I will try to help.

Please call later today or tomorrow.

816-942-1026

Fred

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Answered on 2/28/02, 3:43 pm
Michael R. Nack Michael R. Nack, Attorney at Law

Re: Built a company, now partner's deception has taken it all away

Your question does not state exactly where you are located or where all of the business activity took place. If you are in the Eastern part of the State I would be willing to meet you and review the matter to see if there is anything we can do for you. I will charge a modest initial consultation fee to cover the time we spend making this determination. If further legal services are appropriate and you desire to hire me to represent you, we will discuss a retainer fee, my hourly rate and expenses at our first meeting. I do have a substantial amount of experience in business litigation of various sorts and feel confident that I can be of assistance. Naturally, I would presume that there are various contracts to review, and I would also be interested in seeing any correspondence or other documentation that you have. Also, I will need to know the name of the business and all of the other interested parties so that I can determine whether there would be any conflict. Please feel free to call me at 314-727-2822 .

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Answered on 2/28/02, 9:00 pm


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