Legal Question in Business Law in New York

general partnership

I recently learned that not all my partners (4 other drs) have been contributing to the mortgage 100%. Some months rents havent been paid and the total loss for all the above is more than $45,000. This was found after getting a 1 yr accounting from the bank. There may be more outstanding $$ if I go back further. One partner openly admitted he was behind a couple of months. No books are kept by mgr (although specified in partnership agreement) and overall very poor management. I have tried to get professional mgt for years but partners said to expensive. I also believe they don't keep books so they can hide their debt.

Question: I want to leave partnership...would these actions by partners be considered theft? criminal? Pls. Advise.


Asked on 1/18/09, 9:09 am

3 Answers from Attorneys
Kristen Browde Browde Law, P.C.

Re: general partnership

It's almost certainly not criminal, it's civil - as you describe it, they've failed to live up to their obligations under the agreement governing your partnership.

Leaving the partnership is something that would also be governed by the partnership agreement.

If you'd like to discuss the issues further, please feel free to get in touch.

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Answered on 1/18/09, 12:41 pm
Steven Czik CZIK LAW PLLC

Re: general partnership

While these acts may not be criminla you would certain,y be able to initiate civil claims against them which may include breaches of fiduciary duties. This is an area of in which we have vast experience, however, we would need some more information before making a complete and proper determination. You are welcome to contact us for a free consultation.

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Answered on 1/22/09, 2:35 pm
Carlos Gonzalez Gonzalez Legal Associates PLLC

Re: general partnership

No, not usually... It would be seen as civilly actionable. Meaning,

You could sue over it... As far as leaving the partnership your

Partnership agreement should detail the terms of being released from

The agreement.

If you need further assistance you may contact us at 2127098303

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Answered on 1/18/09, 11:17 am


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