Legal Question in Business Law in Montana

I am in an LLC Partnership. My partner has been depositing her paychecks, but I have 6 checks not deposited and we have bills to be paid and quite a bit of debt. She has significant personal debt and I am fearful of where this is going and feel she is violating the terms of our partnership. There are some positive things going for our business at the moment and I am really fearful of losing valuable employees if I cause a stir, but she is unable to create a plan for this situation. We have quite a bit of receivables, but we can not predict some of the timeline of when that will come in as it is from healthcare payers like Medicaid and they have no obligation to pay by any specific timeline.

Asked on 7/13/23, 8:37 pm

2 Answers from Attorneys

Frank Natoli Natoli-Legal, LLC

0 users found helpful

0 attorneys agreed

How you approach something like this depends. First, we need to understand what if any powers you have regards to voting interest in the entiity. Your LLC operating agreement should address this. If you are 50/50 on everything and the operating agreement does not address this, then you really have no choice but to either work it out with your partner or seek the help of the court, which is expensive.

If you would like to discuss further over a free phone consult, feel free to contact me anytime that is convenient.

You can review our outstanding client reviews here: https://www.avvo.com/attorneys/10007-ny-frank-natoli-1791330.html#reviews

Kind regards,

Frank

www.LanternLegal.com

866-871-8655

[email protected]

DISCLAIMER: this is not intended to be specific legal advice and should not be relied upon as such. No attorney-client relationship is formed on the basis of this posting.

Answered on 7/14/23, 6:42 am

Mark as helpful