
05-22-2008, 07:27 PM
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Junior Member
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Join Date: May 2008
Posts: 1
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Need help with business partner issue!! Please!
I own a small, local business in California and bought the business with a business partner under a General Partnership agreement. Almost 4 months ago, he took off and moved away without informing me. After leaving, I found that there were thousands in unpaid bills and debt and that he was most likely stealing $$ before he left. Now I am stuck with a business that is in-the-hole, working everyday to keep it afloat, trying to cut costs and pay off the debt, with the state going after my personal assets to make up for the $$ owed, and the business partner is nowhere in the picture.
I do have contact info for the partner which I found in an online search. One issue is that our broker company is under new ownership and needs us to resign our original contract. I have faxed him a form to sign, however he refuses to sign anything.
I am currently in the process of looking for a lawyer that I can afford. However, what else can I do to attempt to hold the partner responsible for his end? I have provided the state tax board with the contact info I found, but what other steps, if any, can I take to?
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