Hi,
I am looking for advise on the breakup of a business partnership. I will try and keep it brief and to the point.
I had been in partnership with a very good friend for a little over 3 years. It started out quite casual as nixers as we were both employed. We got so busy we just went into partnership together. Anyway it all went wrong and he decided he longer wanted to be in partnership. Gave no reason and refused to discuss same.
Before he told me about the decision he took €25k out of the account with the agreement that I would take the same. I only took €15k as there was bills to be paid by the business Then he dropped the bombshell and low and behold there is no money for my €10k.
This is how it stands:
WE HAVE NO PARTNERSHIP AGREEMENT. I know this is a huge problem and I realise how stupid this was / is.
Is there anything I can do? We obviously had a joint account showing the money that was debited etc.
Any advise greatly appreciated.
I am looking for advise on the breakup of a business partnership. I will try and keep it brief and to the point.
I had been in partnership with a very good friend for a little over 3 years. It started out quite casual as nixers as we were both employed. We got so busy we just went into partnership together. Anyway it all went wrong and he decided he longer wanted to be in partnership. Gave no reason and refused to discuss same.
Before he told me about the decision he took €25k out of the account with the agreement that I would take the same. I only took €15k as there was bills to be paid by the business Then he dropped the bombshell and low and behold there is no money for my €10k.
This is how it stands:
- There is still creditors owed money
- He agreed to paid me €5k personally but never has and won’t answer my letters or phone calls
- He went around and got paid for jobs that we both carried out
- He also used our joint equipment for new jobs
- He kept a 42” plasma TV we had purchased for a job
WE HAVE NO PARTNERSHIP AGREEMENT. I know this is a huge problem and I realise how stupid this was / is.
Is there anything I can do? We obviously had a joint account showing the money that was debited etc.
Any advise greatly appreciated.