
08-10-2008, 12:11 AM
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Banned
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Join Date: Aug 2008
Posts: 303
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First of all, arrange to take your partner off your credit cards as signatory. Then he cannot charge anything more to YOUR cards. Then get out the bylaws of your corporation... you did have a lawyer make a set?
Find out how to go about dissolving the corporation from that reading. If there are no bylaws, then you should go to your state model statutes for corporations and read up on dissolving a corporation like yours. Get a lawyer, show him what you've found but proceed to arbitration if possible rather than the courts. Your lawyer can help you figure out whether the credit card debt is yours forever or if you can sue your partner to force him to sell the corporation or liquidate it to pay off the debt.
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