Legal Question in Business Law in New York
LLC Property
have an LLC partners 50%separated by disagreements. no operating agreement. other parnter walked away for 60 days, wants to split assests but hasn't paid any bills, hasn't had access to customers or ongoings of business though, and I am currently renting the signs from LLC under my new company's name he removed 6 of the rented signs from customer location because I wouldn't split assets is that stealing can I report it to police and have him arrested? The property is all at my house because that is where we decided to put it and I have ten more signs in storage, which I have told him are his share but he has no access to that either.
1 Answer from Attorneys
Re: LLC Property
Oh, geez, what a mess. Business breakups are as bad as divorces. This one sounds worse.
You must be really angry at your partner to be thinking about having him arrested. Calm down. This is nothing more nor less than a business deal gone sour; it is NOT the end of the world (though it probably is the end of a friendship).
You say your partner took the signs from the customer's site without your permission, but you are refusing him access to signage that you acknowledge to be his. That's just a pissing contest. I presume it's not the only one going on at this point.
The police do not need to be involved in a business breakup, but each of you does need a lawyer to represent your interests. You each should hire someone local to you. Yes, this is business for TWO lawyers.
You will also need the services of an accountant to determine the distribution of business assets. You'll need only one accountant.
Business breakups happen and the earth still spins on its axis and revolves around the sun notwithstanding. The sooner you two stop the pissing contests and hire the professionals to deal with the legalities & accounting of the breakup and forced closing of the business, the sooner you'll be able to get over it and move on.
THE INFORMATION PRESENTED HERE IS GENERAL IN NATURE AND IS NOT INTENDED, NOR SHOULD IT BE CONSTRUED, AS LEGAL ADVICE. THIS POSTING DOES NOT CREATE ANY ATTORNEY-CLIENT RELATIONSHIP BETWEEN US. FOR SPECIFIC ADVICE ABOUT YOUR PARTICULAR SITUATION, CONSULT YOUR ATTORNEY.
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