Partnership disputes over a business can occur for a myriad of reasons. Disputes between partners can revolve around the operations, financial management, and direction of a business among many more disagreements. If negotiation or an alternate dispute resolution method is not capable of protecting our client’s interests our lawyers will not hesitate to litigate.
Many times partners do not want to experience dissolution of partnership. Our lawyers know that disputes can often occur in partnerships and working them out through negotiation results in a stronger partnership.
- Bankruptcy Filing
A partner may dissociate from the business, however, the other partner may need to buy out the other partner’s share, rather than dissolve the business. Upon being dissociated from a business, a partner’s liabilities or obligations before the dissociation are not discharged except upon agreement of the other partners.
Dissolution of a partnership:
- Dissolve the Partnership – The partnership ceases to operate as a business and the partnership commences the winding up process
- Winding Up – Also known as liquidation; it is a process involving paying off creditors and partnership debts and collecting partnership claims
- Termination of Partnership – After winding up, the partnership is terminated
Our attorneys can talk to you about your legal options or concerns and how we can best help your business. Call our civil attorneys now at (855) 200-2889. You can also email us using the contact form below.
Our experienced civil attorneys will speak to you right away and handle your legal issues promptly. WE ARE HERE 24 HOURS A DAY TO ANSWER YOUR QUESTIONS. Se Habla Español.
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I recently hired Liberty Bell Law Firm to assist in a civil matter involving our ex business partner. Irena Shut and Nancy made this process seamless. I would highly recommend them to anyone who is involved in a complicated civil matter. They were able to save us a lot of money without having to go through the expense of a costly litigation.– T.B, from Valley Village, CA
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