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ajurjevic

Guest
What is the name of your state? PA

brought in a person as a 50% shareholder in my corporation. There was no shareholders written agreement. After a few months past, I noticed that 95% of the revenue generated was directly attributed to me, as well as the fact that I was performing 90% of the work. We split all of the work 50/50 I finally told him that I wanted to go back on my own and he agreed and returned his 50% share in the company. During the time we were working together we thought of a different corporate name. He is now using that name and has registered it with the state. He has also brought suit against my company, my wife, and myself in smalls claim court claiming that I owed him additional monies for outstanding invoices, One of which I was never paid on due to his sub-par work, in which I have letter stating as such from the client. I have 3 questions. 1. Can he bring suit against me and my wife personally even though the company is an S-Corp and I am protected personally even though I am a Shareholder under the corporate veil. 2. How can I have my wife and myself removed/dismissed from the suit? 3. What can I do with regards to the company name he is using in which we both thought of while we were working under my corporation?
 


HomeGuru

Senior Member
ajurjevic said:
What is the name of your state? PA

brought in a person as a 50% shareholder in my corporation. There was no shareholders written agreement. After a few months past, I noticed that 95% of the revenue generated was directly attributed to me, as well as the fact that I was performing 90% of the work. We split all of the work 50/50 I finally told him that I wanted to go back on my own and he agreed and returned his 50% share in the company. During the time we were working together we thought of a different corporate name. He is now using that name and has registered it with the state. He has also brought suit against my company, my wife, and myself in smalls claim court claiming that I owed him additional monies for outstanding invoices, One of which I was never paid on due to his sub-par work, in which I have letter stating as such from the client. I have 3 questions. 1. Can he bring suit against me and my wife personally even though the company is an S-Corp and I am protected personally even though I am a Shareholder under the corporate veil. 2. How can I have my wife and myself removed/dismissed from the suit? 3. What can I do with regards to the company name he is using in which we both thought of while we were working under my corporation?
**A: I do not understand the title of your thread.
 
A

ajurjevic

Guest
No one has given me answers to the questions I have

Can someone please answer my questions
 
A

ajurjevic

Guest
No its not

No one has responded to this particular thread
 

JETX

Senior Member
"1. Can he bring suit against me and my wife personally even though the company is an S-Corp"
*** Yes. Anyone can sue anyone over almost anything.

"and I am protected personally even though I am a Shareholder under the corporate veil."
*** That would depend largely on whether the court accepts the corporate status and your actions.

"2. How can I have my wife and myself removed/dismissed from the suit?"
*** By going to court and presenting your defense against the claims being made.

"3. What can I do with regards to the company name he is using in which we both thought of while we were working under my corporation?"
*** Nothing. First, it is not YOUR corporation. An individual does NOT own a corporation. Second, what PROOF can you offer that you retained the rights to that name?
 

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