Legal Question in Business Law in New York

Re: DBA Filings

The problem with failing to amend the Fictitious Name Certificate is that creditor of the organization, who are not aware that you discontinued your relationship, can pursue you for the payment of partnership debts. The present partners in the firm would ultimately be responsible for payment of the debts, but they may have no money. The existence of the certificate in its present form does not create a partnership because that arrangement is between you and your former partners; you indicate that you withdrew as a partner.

Re: DBA Filings

You should retain an attorney to investigate on your behalf. Many times a company's bylaws, operating agreement etc, has a provision that deals with whether or not you can be compelled to put more money into the business and if you can't afford to do so what would happen in that situation. I would also need to know the extent of your conversations with the other partners and whether you signed any additional documents etc. In any event, you may still have some potential liability for the actions of the business depending upon what was done in the past. That alone is reason alone to investigate to make sure you can't get into trouble for actions the company may have taken. Please feel free to contact my office if we can be of assistance.

Re: DBA Filings

Mr. Nadel is correct that you ended your partnership and you need to get your name removed from all of their filings and activities and make their customers aware that you are not involved in the business. So you can either do this yourself or (if their activities are profitable) you could muscle in on them so they are motivated to get you formally out of the business.