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Buyout of minority company

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Linda Kennedy

Guest
My husband started a company with his partner owning 51%.
We have minority government contracts. He decided to buy my
husband out without my husband's consent. Can he force him
out if owns 49% of the company. My husband would sell for
the right price, but the partner does not want to pay what
the company is worth.
 


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loku

Guest
A partner can bring an action to dissolve the partnership; therefore, the partner can, in effect force him out. However, then there would have to be an accounting and the court would decide what the value of the interest is worth. They would do much better by agreeing to mediation or any other method of determining the worth of the interest..
 

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