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Breaking up an LLC

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statefan

Junior Member
What is the name of your state (only U.S. law)? Texas

I need some help ASAP if possible. My spouse entered into a verbal agreement with a partner to form an LLC back at the beginning of the new year. They were registered with the state as a LLC, but had no written contract or written agreement, they were in the business 50/50.

The partner has put a freeze on all the business accounts and hired a lawyer to dissolve the partnership. Their are a lot of allegations flying around from the other partner, most of which are he said she said rhetoric. His lawyer basically told my spouse their are no assets in the LLC, and for him to pick up his belongings in the morning.

We know for a fact there is well over $40,000 in one account (we have a statement) and approx $50,000 in another. So I have a few questions, if anyone can help:

- What does it take to "dissolve"an LLC in Texas?
- Wouldn't half of the above monies be considered his or part of the LLC?
- Does the partner have the ability to keep my spouse out of the workplace?

My spouse has already contacted an attorney, but will not hear from him until Monday morning. This basically came out of left field, and my partner is very upset about the business aspect but this was also his friend.

Does anyone have any advice?

thanks in advance
 


statefan

Junior Member
Sorry for the double post.

I have found some new information. It seems as though the partner has removed the funds from the joint bank accounts and will open a sole proprietorship in her name alone tomorrow.
Is this not illegal as well?
 

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