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Corporation partnership

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M

mabruteam

Guest
Corporation located in Florida: Few years ago somebody invested into my business in order to obtain a visa to stay in this country, the money was used to buy inventory and new equipment, the shares were split into 51% for him and 49% for me.
His 51% was able to gain complete control in less than a year, new management, new president.....
After 3 years the business is reduced to a PO box and all credit responsabilities under my lap.
The web site mabru.com represent now a letter of discontent damaging my 15 years good reputation.
My 51% partner is currently working for our largest and oldest (12 years) account, getting paid as Mabru Inc to be able to keep his visa status in USA.
For the past 3 years I never got compensated for my work or my 49% share, On the other side my partner was able to get his invesment back in 13 months, a salary, a salary for his wife, a new car from the business.
:confused: What do I do next??? Alain Mabru
 


L

loku

Guest
The first thing is to determine how much, if anything is due to you as compensation for your services, or as a shareholder. That depends on the agreements you had with the other shareholder and on the by laws of the corporation. A corporation law attorney in your state would be the best person to see about that.

If you are due any compensation, then ask for it. If your “partner” does not give it to you, you can sue for it. Also, you may have had some rights as a minority shareholder violated. A corporation law attorney, after seeing the corporate documents and records could determine that.
 

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