Get out of partnership

[Help4343]

What is the name of your state?
Florida

I have been in a partnership with a person for nearly 7 years.
It is an s corporation.

I own two thirds and she owns one third.
She has done nnothing the entire time we have owned the business. The business does allot of revenue with no profit.
I want to disolve the partnership but we can't come to an agreement on a buy out. She says I have been stealing from her but I have not. I have a lawyer but I just need another opinion.

What is the best way out?

Thanks in advance.

 

[HomeGuru]

What is the name of your state?
Florida

I have been in a partnership with a person for nearly 7 years.
It is an s corporation.

I own two thirds and she owns one third.
She has done nnothing the entire time we have owned the business. The business does allot of revenue with no profit.
I want to disolve the partnership but we can't come to an agreement on a buy out. She says I have been stealing from her but I have not. I have a lawyer but I just need another opinion.

What is the best way out?

Thanks in advance.

**A: what is your lawyer's opinion, so I can see if I agree or disagree?

 

[Help4343]

He thinks we can call a share holder meeting and ask vote to raise funds by selling more shares. I can buy more shares that will dilute her ownership farther making it less valuable in the event of a judge required buy out.

 

[I AM ALWAYS LIABLE]

What is the name of your state?
Florida


She has done nnothing the entire time we have owned the business.

MY RESPONSE: Then, do the same as she does!




The business does allot of revenue with no profit.

MY RESPONSE: Then what's the purpose? Why are you breaking your butt for nothing?



I want to disolve the partnership but we can't come to an agreement on a buy out.

MY RESPONSE: She will once she sees that you're just sitting there and doing absolutely nothing! Don't even pick up the telephone. Make her do the work if she wants to protect her interest.




She says I have been stealing from her but I have not.

MY RESPONSE: Can she prove you're a thief?




What is the best way out?

MY RESPONSE: See above suggestion. Either she "blinks" and gets off her ass and does some work to keep the "ship" afloat, or this "Titanic" of a "no profit" business goes down into the depths.


IAAL