Funds Have Been Mismanaged In My Small Business. What Can My Attorney Do?
If you are an owner with access to financial records, you have to stop any mismanagement and immediately find out how these people have access to the funds. If you are a shareholder or a member, you may or may not have access to that without litigation. You would be forced into litigation. It can involve embezzlement all the way down to making the expenditures without the approval of everyone, even though they all have to be involved in the approval and agree to that. If you have enough evidence to form a decent complaint and have a lawsuit filed on the other side, then you would be able to avail yourself to discovery to get those financial documents.
How Can I Dissolve My Business So That All Partners And Investors are Served Equally?
Voluntary dissolution is when people decide to walk away from a business and they don’t file a necessary renewal paper with the state of Florida. The state will dissolve the entity for you. Your business can also be dissolved through bankruptcy or through a court order. The documents used to organize a company should guide how it is going to be dissolved. There may be a dissolution but a business entity may continue, so you could dissolve some of the interests but continue that particular organization. Or, everyone can walk away and do something completely different.
You will have to make sure that the creditors are paid unless there is a bankruptcy or the business is not in the red. Then, there would be distribution of assets, which would be according to the organizational governing documents of that business. If not addressed at all, everyone can sign an agreement on how it will be distributed.
For more information on Mismanagement Of Funds In Small Businesses, a case evaluation is your next best step. Get the information and legal answers you are seeking by calling (772) 242-3600 today.
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