Legal Question in Business Law in Virginia

I was removed from my corporation without notice after I left the country. This is a Virginia corporation and was formed to purchase an existing business. My partner and I invested the same amount of money for the down payment of the purchase. The sale was financed by the seller. I had to leave the country due to family reasons and cannot return to the US for a while. I found out that my partner removed me from the corporation and also refuses to release detail of monthly financials. All I received was the corporate tax returns which indicate a loss. When I was there we received dividends on a monthly basis(my partner also received a salary for work rendered) I did not since I did not work as an employee at the company. I only received my part of the profit as an investor but since I left my partner indicates that there is no money coming in. I have not seen a dime for the past 2 years(since I left). When I left my partner expresses disappointment as for that was not the plan (for me to leave). Is there a law that can help me regain access to my business? I have a relative in the US that I could give power of attorney to, but first I want to know if my partner had the right to remove me and cut me off the business in which I invested?


Asked on 10/10/12, 2:47 pm

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

Very unlikely (in answer to your last question), but you will likely need to hire a Virginia attorney with appropriate experience in business litigation

in order to remedy the situation.

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Answered on 10/11/12, 7:54 am


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