It can be a very confusing process of filing a case when there is a dispute between you and your partner. Usually, this occurs when partners stop being in agreement of how to manage a company and the dispute can no longer be resolved internally. If you are looking for a reliable attorney to represent you in a partnership dispute case, look no further than Weltz Law. Hiring an attorney is the best thing you can do because you would want to protect your assets, your interests and make sure that the dispute is resolved as quickly and hassle-free as possible.
Understanding Partnership Disputes
In the modern corporate world, partnerships are usually formed based on a written and signed contract or agreement which spell out the exact terms and conditions. Despite this common occurrence, there is no need for a written agreement for a partnership to form. However, a written contract will properly state the respective rights of each partner, the fiduciary duties of the partners, as well as the pre-requisites for dissolving the partnership. Either party in the partnership can choose to withdraw from the partnership whenever they please or sell their partnership interest. Since partnerships can form without such written agreements, an attorney can definitely serve to help you enhance your case and resolve the dispute in your favor.
About Minority Shareholders
If you are a minority shareholder, you can sue for action for recovery and dissolution if you can prove that you are being oppressed. This can be done if you or along with other shareholders own 20% of the company stock. An experienced attorney can help you to carry out a determination of oppression, which will find out the majority shareholders are running exactly how the company.
Conversely, if you are a majority shareholder and are facing a dissolution case, you can choose to fight against the shareholder oppression action or buy the shares of the minority shareholders at fair value. Note that the company itself can also buy these interests from the shareholders. However, these processes can be difficult to navigate if you lack experience in the legal field. As such, hiring a good attorney will help you to gain some advantage in the dispute.
Exclusion from Business
In most states, partners in a partnership are entitled to the management of the partnership. Hence, partners therefore have the right to look at transactions that are being made and the accounting that is involved in the running of the company. If a partner is excluded from business, he or she has the right to fight for the dissolving of the partnership.
Discuss Your Partnership Dispute Case With an Experienced New York Lawyer. We Handle Cases Nationwide.
If you are a partner and feel that your rights as a partner have been violated, or if there has been a breach of any pre-existing contract which stipulates the terms of the partnership, you should work with us here at Weltz Law. Our lawyers work round-the-clock to tirelessly formulate legal solutions for partners and other securities law cases. We are dedicated to fighting for your best interests to help you secure the compensation that is your right.
30+ Years of Collective Experience
Our attorneys have over 30 years of collective experience representing clients in all aspects of securities and commercial litigation.
Contingency Fees for Our Securities Law Clients
We will not receive a penny in attorney's fees unless a positive recovery is obtained in your case. Contact us to see if you're eligible.
We will assess the merits of your claims and help you decide on the next step.
Litigated Claims in Excess of $50 Million for Our Clients
Our firm is prepared to fight for you to seek maximum compensation.