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Guest
Hi,
I am posting this for a dear and close friend.
She is retired and lives in South Carolina. About 4 years ago, she went into a liquor store business with someone she thought she can trust. Over the years, the partnership went from good to bad to now unbearable and financially, a disaster. We are desparate and your adivce will be greatly appreciated.
Currently, the store owed 20k to creditors. She has invested about 100K+ into the store. Her partner has none invested in the store (he originally put in about 20k which was slowly repaid thru the sales).
She would like to sell the store and recover as much of her retirement saving as possible. He does not want to as the store is his mean to living. They had many perspective buyers but he always turned the offers down. He currently has control of the store and the cashflows. (He has the title of President).
What recourse can she take?
Thanks.
Desparate and Clueless in SC
I am posting this for a dear and close friend.
She is retired and lives in South Carolina. About 4 years ago, she went into a liquor store business with someone she thought she can trust. Over the years, the partnership went from good to bad to now unbearable and financially, a disaster. We are desparate and your adivce will be greatly appreciated.
Currently, the store owed 20k to creditors. She has invested about 100K+ into the store. Her partner has none invested in the store (he originally put in about 20k which was slowly repaid thru the sales).
She would like to sell the store and recover as much of her retirement saving as possible. He does not want to as the store is his mean to living. They had many perspective buyers but he always turned the offers down. He currently has control of the store and the cashflows. (He has the title of President).
What recourse can she take?
Thanks.
Desparate and Clueless in SC