F
forgivr
Guest
What is the name of your state? Pennsylvania.
I 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. 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 2. How can I have my wife and myself removed 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?
Thanks
I 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. 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 2. How can I have my wife and myself removed 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?
Thanks