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Reload this Page Getting rid of a delusional, extortionist partner

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  #1  
Old 03-06-2009, 03:34 PM
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Getting rid of a delusional, extortionist partner

What is the name of your state (only U.S. law)? NJ
My 50% partner is delusional, may have dementia, and refuses to allow me to sell the business unless he extorts money from me during the sale, is there any kind of court which would assign a broker to sell the business so I can be rid of this partner and get the most from the business in a sale? I have no problem sharing the proceeds, but he refuses to cooperate in the sale of the business because I loaned the business 1 million dollars to keep it afloat and he refused to contribute saying he was broke. Now he figures if we only get 1 million for the business he will get nothing so he is stonewalling any sale.
  #2  
Old 03-06-2009, 04:18 PM
Roo Roo is offline
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Location: Heart of America
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This situation sounds like something best handled by an attorney in your area rather than an internet forum.
  #3  
Old 03-16-2009, 02:29 PM
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Posts: 9,180
Is there a partnership agreement or contract in existence? You will need to discuss this with a business law attorney.
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