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T O P I C R E V I E W
George.qz
Posted - 25 April 2010 : 18:03:04 My ex-business partner bought me out at an agreed price for the shares of our limited business. He is now defaulting on the payment plan and threatens a Vol Bankrupcy to avoid paying me. Can he do this; do I have any rights?
2 L A T E S T R E P L I E S (Newest First)
Reviva UK
Posted - 25 April 2010 : 23:41:20 I suspect it does depend upon what the actual agreement says.
If he is not the owner until the sum is paid or if you are recognised as a priority creditor etc.
try to get the agreement out and perhaps we can help from there
if you have a signed agreement you may have grounds but if at the end of the day the business is now going down the pan, their may not be the money in the pot to pay you.
if you think he has assetts hidden, you may want to get in front of him and petition for his bankruptcy.
The law involving companies ltd or partnership is very complex, i would suggest that you contact Paul at Reviva, so that you can understand your exact position and all of the options available to you.
Paul is one of the experts that regularily post on this forum, as well as a vaste amount of experience in personal bankruptcy he also helps lots of business.
