Legal Question in Business Law in New York

Partners

Facts: ltd company, 2 partner, no sherholder agreement

problem: one partner open by himself account and controling all the finance without his partner.

Q:is there any legal acts against this partner?


Asked on 12/20/03, 11:41 am

3 Answers from Attorneys
Walter LeVine Walter D. LeVine, Esq.

Re: Partners

Many potential claims, for fraud, conversion, use of corporate opportunity. Best is to retain an attorney familiar with businesses and go after him for an accounting, plus damages. There may even be an intentional business tort which would allow you to recoup your accounting fees (to determine how much was taken) and legal fees.

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Answered on 12/22/03, 12:17 pm
Louis Venezia Law Offices of Louis Venezia at Union Square, P.C.

Re: Partners

THE COURT CAN FORCE THE PARTNER to show you all of the financial information and CAN FORCE THE PARTNER to turn over the bank accounts to the business. THE COURT CAN FORCE THE PARTNER to change the bank accounts so that both of you must sign checks together. Our law firm handles this kind of work.

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Answered on 12/22/03, 4:42 pm
David Slater David P. Slater, Esq.

Re: Partners

Yes. This should be controlled by the partnership agreement. If not, NY partnership law will apply.

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Answered on 12/20/03, 11:44 am


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